Bboxx EDF signs a €11 million agreement with OGEF to accelerate the electrification of 1.5 million people in Togo by 2030.
Electrify Togo
Bboxx EDF obtains a loan from the Off-Grid Energy Access Fund (OGEF). It is under management of Lion’s Head Global Partners Asset Management (LHGPAM). The loan allows them to accelerate theelectrification in Togo.
The OGEF loan is a sustainable impact investment fund. It aims to provide financing solutions to bring affordable energy access to off-grid communities. In addition, it demonstrates the key role of the private sector.
It allows, in particular, the expansion of access to energy for low-income households. With the goal of reaching 1.5 million people by 2030, the loan will support Bboxx’s expansion in the country. In particular, it will continue to distribute solar home systems to geographically remote customers.
Mansoor Hamayun, CEO and co-founder of Bboxx, states:
“This financing facility will help us significantly expand our product offering with EDF, expand our distribution network in the country and put us on track to provide 1.5 million Togolese with clean energy by 2030. However, looking at the broader industry, there is still a lot to be done to unlock sustainable financing and innovation. Loans like these are critical for us to provide clean solutions in line with the UN Sustainable Development Goals, positively transforming lives and unlocking potential by bringing many more people into the digital economy.”
This ambition is in line with the objective set by the government of Togo as part of its national electrification strategy. It wants to achieve the goal of sustainable development, affordable, reliable energy for all by 2030.
An active partnership since 2018
In addition, Bboxx EDF signs a partnership. It integrates the super platform for access to essential products and services Bboxx and EDF world leader in decarbonated energies in Togo. In addition, they actively cooperate throughoutAfrica.
Bboxx has been operating in Togo with EDF since 2018. This agreement marks the latest achievement of their partnership. In 2019, Bboxx EDF customers received the first ever government subsidy in Africa.
This subsidy was for energy payments from solar. Since then, the program has had a positive impact on over 300,000 Togolese. It provides homes, communities and businesses with access to reliable, clean energy.
For EDF, it is a great satisfaction to secure a loan that will strengthen its position in Togo. With Bboxx, the company says it is improving access to electricity with low carbon emissions. Finally, for EDF, this partnership is part of building a net zero energy future.
