Priya PatelThe Netherlands Development Finance Corporation (FMO) has invested $10 million in climate fintech Nithio’s Facility for Adaptation, Inclusion, and Resilience (FAIR), which provides financing for clean energy companies in Africa. Nithio’s FAIR mechanism focuses on financing clean energy supply to households and small and medium-sized enterprises in Africa and has already made 11 investments, providing over 400,200 people with access to energy and 12,100 people with access to clean energy products for businesses. The funding from FMO will enable Nithio to extend its financing to distributors of solar home systems and solar appliances for productive use, such as lighting, communication, irrigation, and cooling systems.
Climate finance fintech Nithio secures $10M to empower Africa’s operations.
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