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SBM Bank Rolls Out Sh1.6bn Solar Initiative for Bboxx

Nearly half a million are set to benefit from Shs1.6 billion (USD 15 million) mid-term debt facility issued by SBM Bank Kenya to Bboxx Kenya to support the finance of affordable solar home systems to over 470,000 Kenyans.

The tripartite transaction arrangement involves GuarantCo, part of the Private Infrastructure Development Group (PIDG) has supported the transaction with an Shs 1.2billion (USD 11.25million) partial guarantee (75 percent) against the loan facility.

The funds will be used by Bboxx Kenya to purchase new inventory over the next two years including 89,600 solar home systems and essential appliances such as fridges and phones.

Read more: CapitalFM

 


 

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