Oikocredit invests US$ 5 million in Yellow to support solar energy in Africa
Yellow will use Oikocredit loan to provide electricity and mobile connections to more households in Africa
Oikocredit is providing a loan of US$ 5 million to Yellow, a supplier of pay-as-you-go off-grid solar solutions and appliances in sub-Saharan Africa. With this loan, Yellow plans to bring access to clean energy to tens of thousands low-income households in Malawi, Rwanda, Uganda and Zambia.
Access to renewable electricity will support households in improving their living standards, increasing their earning potential and achieving lives of greater dignity.
Yellow has pioneered solar energy solutions for low-income communities since 2018. It has sold more than 300,000 energy devices, helping improve the lives of more than 1,500,000 people with clean energy access, providing economic opportunities for more than 1,200 people employed as agents, and avoiding thousands of metric tonnes of CO2 equivalent by replacing kerosene lanterns and diesel generators.
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