It is with great pleasure we announce that Lion's Head Global Partners has been nominated for the African Banker Awards 2021 in the category Deal of the Year Award - Energy. This was for FEI Off-Grid Energy Access Fund (OGEF's) US$4 million loan to Bboxx RDC to accelerate clean energy access in the DRC. OGEF is managed by Lion's Head Global Partners.
The loan will accelerate Bboxx’s operations in the Democratic Republic of Congo (DRC) across Kivu, Ituri and Tshopo provinces with ambitions to expand further in the country. Currently, only around 19% of the DRC population have access to electricity, and for those that do have access, electricity can be unreliable. The DRC is already a core market for Bboxx, who manufacture, distribute and finance decentralised solar powered systems in developing countries. The company has positively impacted many lives through access to clean, reliable and affordable energy – and this new funding will provide the opportunity to further increase Bboxx’s impact in the DRC.
Harry Guinness, Managing Director at Lion’s Head and OGEF Fund Manager, said: “The OGEF team remains impressed with Bboxx’s mission, technology and scale – and we are excited to expand our role in their growth in challenging markets by boosting operations in the DRC. This transaction was a real team effort – owing thanks to partners at the World Bank and local funders – and the collaboration and effort underscores OGEF’s commitment to increase debt financing in Africa. We look forward to continuing to contribute to Bboxx’s substantial achievements in expanding access to clean energy through much-needed scalable capital. This transaction sets another standard and we’re driven to adapt, learn and replicate it with borrowers in the sector across Africa.”