Azuri Technologies Ltd. reached the milestone of 100,000 sales of its PayGo solar home systems in across 12 countries in sub-Saharan Africa since 2011.
The milestone follows the announcement that the company secured a $5-million debt facility from Standard Chartered Bank in February and its completion of $11-million equity funding round in December.
The funds will be used to support Azuri’s sustainable economic growth across Africa. The finance will underpin the company’s ambitious growth in existing markets and accelerate growth in new markets, such as the program announced in January 2017 to provide power to 20,000 households in Nigeria.
Azuri provides a reliable service alternative to the grid for off-grid customers, delivering lighting, phone charging, radio and TV access in affordable packages paid for through mobile money. The Azuri PayGo solar product range includes the first complete PayGo satellite TV package targeting households without electricity, launched in Kenya in December 2016, and solar lighting systems that incorporate the company’s award-winning HomeSmart technology which ensures households have light all night, even following cloudy weather.