Nithio’s investment, made through its investment vehicle, Nithio FI, is part of the Productive Use Appliance Financing Facility (PUAFF), which catalyzes the uptake of productive use appliances across Africa. Nithio’s investment is part of a $12m syndicated debt facility led by Mirova Sunfunder and financed through its Solar Transformation Fund.

GreenShift Africa deploys Tradeable’s trade facilitation platform to pay the e-mobility companies’ OEMs up-front as required, while selling to the local resellers on differed payment terms that will be on a Delivered Duty Paid basis. The program takes the e-mobility company’s available cash as a down payment covering a portion of the order value.

The results derive in large part from growth of 143 percent in d.light’s business in Nigeria, Africa’s most populous country and its largest economy. d.light’s three-digit growth in Nigeria has been driven by the launch of its new solar inverter product and also sales of its solar home systems using d.light’s Pay-Go finance service.