Tuesday 27 February 2018

African nation Togo renewable with $4m funding

The Government of Togo’s energy access initiative has received a $4 million (£2.9m) funding boost from a local bank.

Union Togolaise de Banque (UTB) will provide the finance to utility BBOXX as part of the 'CIZO' initiative, which aims to bring renewable electricity to more than two million of the country's people by 2022.

The name of the scheme means 'lighting up' in the local Guin language.

BBOXX has been awarded a contract to work with the Government of Togo to deploy 300,000 of its solar home systems in the country by 2022 - so far it has delivered around 500.

The Africa Guarantee Fund, which assists with support for small and medium-sized enterprises in Africa, has agreed to provide a 50% credit enhancement on top of the rest of the deal.