BBOXX Launches £2.5 Million Crowdfunding Initiative for African Solar Power Expansion
British off-grid solar energy provider BBOXX is embarking on a £2.5 million crowdfunding campaign through its partnership with Lendahand Ethex and their Energise Africa platform. The initiative aims to expand access to affordable and reliable solar power systems in Rwanda, Togo, the Democratic Republic of the Congo, and Nigeria, addressing the critical energy deficit in Sub-Saharan Africa.
Energise Africa: Powering Homes and Economies
Energise Africa, launched with support from UK aid and Virgin Unite, enables retail investors to contribute to solar energy businesses that deliver a triple bottom line: social, environmental, and financial returns. This investment opportunity aligns with the UN’s Sustainable Development Goal of ensuring universal access to affordable, reliable, and modern energy by 2030. By investing through Energise Africa, individuals can directly support the deployment of solar home systems, offering a clean and sustainable alternative to expensive and polluting options like diesel and kerosene, which are often the only options for households and businesses due to unreliable or non-existent grid electricity. Investors are offered a 5% tax-free annual return over a 36-month period, however, it’s important to note that capital is at risk and returns are not guaranteed. BBOXX CEO Mansoor Hamayun highlights the crowdfunding campaign as an exciting mechanism to access crucial finance for achieving the company’s ambitious objectives, describing it as the first credit facility of many to come.
Ultimately, this crowdfunding initiative presents a unique opportunity for investors to participate in addressing a significant challenge in Sub-Saharan Africa while potentially generating financial returns. By bringing clean, affordable energy to underserved communities, BBOXX and Energise Africa are contributing to improved quality of life, economic development, and a more sustainable future for the region.
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