KawiSafi Ventures, a Kenyan off-grid solar energy-focused investment fund, has raised $70 million in funding for projects in East Africa (EA).
The fresh funds were raised from the United Nations Green Climate Fund, the Skoll Foundation and two American individual backers among others.
With the new capital raised from the funding, KawiSafi seeks to provide clean and affordable energy to 10 million people, half of whom live in poverty.
Moreso, the proceeds from the investment will also be used to avoid the emission of one million tonnes of carbon dioxide into the environment over the next ten years.