Lendahand Ethex, the leading online positive impact investing platform and BBOXX, a next generation utility, have announced today the start of a new Energise Africa partnership accessing for the first time, flexible finance from the UK crowd. The initiative aims to raise £2.5m in total through a series of smaller investment offers, allowing BBOXX to extend its roll out of life changing solar systems across Rwanda, Togo, Democratic Republic of the Congo and Nigeria.
The first offer, launched today, enables BBOXX to raise low cost inventory finance directly from Lendahand Ethex’s growing base of socially motivated impact UK based investors, with the goal of providing 2,500 rural Rwandan households with life changing solar systems.
UK aid will be providing matched funding of 25% of the campaign value to boost the impact of UK social impact investors. Energise Africa was launched last year with financial support from UK aid and Virgin Unite with the objective to accelerate progress towards the achievement of the UN agreed Global Goal 7 – to ensure access to affordable, reliable, sustainable and modern energy for all by 2030.
The Energise Africa initiative is supported by Energy 4 Impact which received a grant from UK aid to establish the platform. Energy 4 Impact contracted with Lendahand Ethex Ltd in December 2016 following a formal procurement process, and is overseeing the project to ensure targets are met. This initiative draws on knowledge generated by the Crowd Power project, also managed by Energy 4 Impact and funded by UK aid.