Kenya

Kenya

Bboxx

Provide a KES 1.2 bn ($10.6m equivalent) partial guarantee (75%) to SBM bank with a 5-year tenor to provide 86k solar home system units in Kenya.

Increase access of reliable electricity to 451k consumers to improve quality of life and avoid/ reduce greenhouse gas emissions through the displacement of nontraditional fuels.

Total commitment
$10.6m


Direct impact on people

SDG assessment 7.1 + 7.2  – Access to affordable and reliable renewable energy.

Expected impact 451k consumers are expected to benefit. Over 50% will be first time users and 9% will be below the international poverty line.


Direct impact on planet

SDG assessment 13 – Climate change mitigation.

Expected impact Avoid/reduce greenhouse gas emissions through the displacement of nontraditional fuels.


Market transformation

  • Challenge: Historically investments in the off-grid SHS sector have been made in hard currency which can expose companies to significant exchange risks.
  • Channel: Enabling better matching of currency of funding with operations and collections through mobilising local currency from a Kenyan Bank.
  • Outcome: Replication of local currency loans to SHS businesses from domestic banks

Mobilisation

Mobilised $14.1m (KES 1.6bn) from SBM Bank. This will be Bboxx’s first LCY transaction and one the first loans provided by a Kenyan bank to a company in the solar home system sector.


Climate risk

  • Transition: Low – Paris aligned.
  • Physical: Risks considered and where possible mitigated.

Gender

40% of the Kenyan workforce will be women.

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