M-Kopa solar CEO and founder Jesse Moore together with a customer Everline Adhiambo, receiving an energy saving jiko from one of the firm’s employees Njeri Gikami. PHOTO | LILIAN OCHIENG
Colin le Duc, a partner at Generation Investment Management said in a statement that the money will help spread modern solar appliances to a huge new market.
A recent study by International Finance Corporation (IFC) states that poor Kenyan households spend up to 10 per cent of their monthly income on energy, M-Kopa saw the gap and has used it to thrive in business.
Solar energy firm M-Kopa is set to spend Sh2 billion on diversification of its products line in Kenya, as it expands into Tanzania and Uganda.
The firm Thursday told nation.co.ke that the money was raised from an equity round led by London based Generation Investment Management LLP and others in December.
