€ 5 million loan to power African SMEs with solar energy
Oikocredit has provided Ecoligo with a € 5 million loan to grow the use of solar energy used to power small and medium enterprises (SMEs) in Ghana and Kenya
With our loan of € 5 million, Oikocredit’s partner Ecoligo will be able to expand its work of providing SMEs, as well as non-governmental organisations (NGOs), with access to solar energy to power their work. To the SME and NGO in Africa this is not only about getting access to clean energy, but also provides a reliable source of electricity which saves on the running costs of their businesses and organisations.
Since its inception in 2016, Ecoligo has been a pioneer in global energy transition and has offered solar-powered electricity installations to emerging economies around the world. With this loan from Oikocredit, Ecoligo will be able to provide around 15 SMEs and NGOs in Ghana and Kenya with solar-powered electricity.
This partnership shows how we can create more jobs in emerging economies at the same time as reducing the carbon footprint.
Siebren Wilschut, Investment Officer at Oikocredit, said: "We're delighted to support Ecoligo, a rising star in the commercial and industrial sector, in their expansion to ensure access to clean energy. With Oikocredit’s support, Ecoligo will continue to scaleup and increase its social impact to support SMEs and NGOs. With significant cost savings, SMEs and NGOs will be able to secure more jobs in local communities at the same time as reducing their CO2 footprint".
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