BBOXX, active on CIZO project, raises $50M from Mitsubishi and others for its expansion

Energy
Wednesday, 28 August 2019 14:31
BBOXX, active on CIZO project, raises $50M from Mitsubishi and others for its expansion

(Togo First) - BBOXX, the first operator active on the CIZO project in Togo, just raised $50 million at the TICAD VII.

Most of the funds raised came from Japanese giant Mitsubishi with other investors including ENGIE’s arm promoting access to sustainable energy, the Luxembourg-based investor Bamboo Capital Partners, DOEN participaties and Mackinnon, and BENNETT & Company.

The monies will be used by the British firm to continue its global expansion in Africa where it operates in 12 countries at the moment, and Asia.

According to BBOXX’s CEO, Mansoor Hamayun (photo), Mitsubishi’s investment reflects Japan’s interest in Africa and for Pay-as-you-go (PAYG) solar energy as well.

BBOXX Togo has since 2018 provided more than 8,000 households with solar kits. It should be noted that half of the firm’s stakes is held by EDF.  

Séna Akoda

togofirst mobile

 
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