Kenyans are set to benefit from a project aiming to bring off-grid solar power to Kenyans without access to electricity.
Several top Kenyan banks have invested in the $156 million (Ksh20 billion in current exchange rates) project, making it the largest of its kind by private investors.
Arranged by a global American financier, the project will be facilitated by an off-grid solar energy company, which will enable the manufacture and sale of about 1.4 million solar home systems to Kenyans, mostly in rural areas.
The energy company raised the Ksh20 billion by bundling future payments from its solar-power customers into an asset-backed security that was bought by investors.
