Oikocredit has provided pay-as-you-go off-grid solar company Yellow with a USD 5mn loan to support 89,000 low-income households in Malawi, Rwanda, Uganda and Zambia, giving them access to clean energy and the opportunity to own off-grid solar products.
This loan will enable us to access local currency funding in multiple jurisdictions, providing our business with greater scope to serve more customers and better.
Michael Heyink, Founder & CEO
The PAYG company was established in 2018 and since then it has sold more than 300,000 energy devices and employed more than 1,200 individuals as agents. Furthermore, renewable energy generated by the company’s solar home system has avoided approx. 442,671 metric tonnes of CO2.