d.light secures $176M securitization deal

d.light, a global provider of affordable household products and finance for low-income households, has secured a $176 million securitization facility with African Frontier Capital. This financing supports d.light’s PayGo consumer finance program, which provides off-grid solar products to low-income households in Kenya, Tanzania, and Uganda. The company claims this multi-currency facility will enable access to renewable energy for an estimated six million people over the next three years. Including this facility, d.light has raised $718 million in securitized financing since 2020. The company highlights that this expansion maintains cash flow positivity without needing external equity fundraising. The partnership with African Frontier Capital underscores the role of data-driven financial solutions in promoting financial inclusion and access to clean energy for vulnerable communities.