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Mobisol secures additional substantial senior loan facility from Finnfund
Mobisol has strengthened its capital base by an additional substantial senior loan facility from Finnfund (Finnish Fund for Industrial Cooperation Ltd.), following an already provided senior loan in 2016 to Mobisol’s operations in Tanzania, Rwanda and Kenya.
This additional funding, granted up to 10 million Euros, will support Mobisol’s fast expansion in East Africa, where the company installed nearly 10 megawatts of capacity in Tanzania, Rwanda and Kenya, providing clean and reliable electricity to households and small businesses in low-income communities.
In this way, Mobisol enables particularly rural families and business owners to power a range of appliances, such as televisions, stereos and refrigerators to improve their standard of living and earn incremental income through solar-powered businesses, such as mobile phone charging stations, barber salons, movie theatres and more. The new financial commitment will pave the way for further growth.