African financing platform M-Kopa has signed a complete of $255 million in new debt and fairness from Standard Bank and Sumitomo Corporation amongst others to fund its growth in Sub-Saharan Africa, M-Kopa stated on Monday.
Founded in 2011, M-Kopa began its operations in Kenya and has expanded to Uganda, Nigeria and Ghana and says it has so far it has helped 3 million prospects to entry over $1 billion in credit score to purchase objects like sensible telephones, solar energy techniques and medical insurance.
M-Kopa stated Standard Bank led and organized $200 million in sustainability-linked debt financing, whereas Sumitomo had injected $36.5 million in new fairness funding.
Other contributors within the fund-raising included U.Ok-based funding agency Lightrock, the agency stated.
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Source: economictimes.indiatimes.com