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M-kopa solar gets more funding from Canada

By Otiato Guguyu | Published Sat, March 17th 2018 at 12:28, Updated March 17th 2018 at 12:31 GMT +3
Jesse Moore CEO M-KOPA Solar speaks during the launch of companies to inspire Africa report 2017.

Solar provider M-Kopa has attracted private equity funds of Sh1 billion ($10 million) from FinDev Canada.

The latest funding round is being led by British firm CDC which has committed Sh708 million ($7 million) in additional investments. CDC has nominated Dave Easton to M-Kopa’s Board of Directors.

“I’m delighted that other investors like Canada’s new development finance institution are following our lead and investing long-term capital in the company,” said Nick O’Donohoe, CEO, CDC.

The funding round also includes investments by existing shareholders; Generation Investment Management and LGT Venture Philanthropy.

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