- Solar PV
- Business model
ElectriFI extended a USD 1.5 million convertible loan to VITALITE to complete an ongoing fund-raising of the company which successfully secured a grant from BGFA and is in discussion with debt providers, with the aim to launch a Series A in the coming 3 to 4 years.
Contract signature date: April 2023
Total ElectriFI financing: USD 1.5 m (equiv EUR 1.38m)
Environmental and Social Category: C
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
VITALITE is a Solar home System distribution company that was created to increase rural electrification and combat the poverty tax affecting low-income, energy-poor households across Zambia. VITALITE started operations in 2014 and was the pioneer of a fully
integrated pay-as-you-go service in the country. The company is currently present all 10 provinces, employs 150 Zambian residents in its head office and work with 600 field agents.
Learn more on: http://www.vitalitegroup.com/