SunCulture, a Kenya-based technology company and a pioneer in solar energy techniques has a raised US$11 million.
The funding of US$11 million syndicated debt facility raised by SunCulture shall be used broaden its operations in sub-Saharan Africa.
Due to its measurement and its revolutionary mixture of working capital and end-user financing, the brand new mortgage is groundbreaking for the photo voltaic ‘sustainable use’ sector.
SunCulture offers options focused to smallholder farmers, integrating pay-as-you-go (PAYG) funding and value-added providers with expertise.
SunCulture is presently working in Kenya, Ethiopia, Uganda, Zambia, Senegal, Togo, and Ivory Coast.
Samir Ibrahim, Chief Government Officer of SunCulture, stated “that for the thousands and thousands of smallholder farmers in Kenya, the previous yr was devastating.
87 p.c are in a worse monetary place because of the pandemic.
Nevertheless, 81 p.c of farmers from SunCulture have been capable of improve their farming income in 2020.
This facility additional allows our efforts to assist farmers by bringing extra and quicker photo voltaic options to them.”
As farmers change diesel pumps with photo voltaic pumps whereas facilitating revenue development and job alternatives in rural communities.
The corporate goals to mitigate 20,000 tonnes of carbon output per yr.
