Page 12 - AfrElec Week 49 2022

AfrElec OFF- GRID AfrElec

Bboxx signs €11mn deal to

boost electrification in Togo

TOGO BBOXX, a British platform that works on pro- 1.5mn Togolese with clean energy by 2030,” said
viding essential products and services across Mansoor Hamayun, CEO and Co-Founder of
Africa, has received an €11mn ($11.6mn) loan Bboxx.
from the Off Grid Energy Access Fund (OGEF) “It is encouraging that the private sector is
to ramp up clean electrification delivery in Togo. starting to invest more deeply in green initia-
The London-based company focuses on tives, and we are thankful for the OGEF’s recog-
helping Africans receive essential services, such nition of the critical services and solutions we are
as electricity and clean water. It also hopes to delivering. However, when looking at the wider
increase access to the internet and digital ser- industry, a lot more still needs to be done when
vices in rural areas throughout the continent. it comes to unlocking sustainable financing and
BBoxx has been working alongside France’s innovation.”
EDF in Togo 2018, and will now use the loan to According to Alban Deheunynck, Executive
continue distributing solar home systems, with Director at Lion’s Head, the new loan follows
the objective to reach 1.5mn people by 2030. similar investments in DRC and Rwanda.
The money will also help smallholder farmers in “Bboxx and EDF have developed the leading
Togo access solar-powered irrigation. off-grid energy utility in Togo, and they have
The money has been funded by the OGEF, played an essential role in delivering the electri-
a sustainable impact investment fund aimed fication plan of the Government,” Deheunynck
to bring affordable energy access to communi- explained.
ties living off the grid. It is managed by Lion’s “We were impressed by the extent of Bboxx
Head Global Partners Asset Management, an EDF’s operations covering the five regions of
investment bank and assets manager operating Togo, and its efficiency in servicing daily, thou-
in emerging markets. sands of customers. OGEF’s investment will
“This financing facility will help us to signif- enable Bboxx EDF to further expand operations
icantly expand our product offering with EDF, and deliver on its mission in bridging the energy
widening our distribution network in the coun- access gap in Togo.”™
try and placing us well on our way to providing

P12 www. NEWSBASE .com Week 49 07•December•2022