Zurich 4 May 2022 — responsAbility Investments AG, the Swiss sustainable asset manager focusing exclusively on impact investing, will provide a USD 8 million working capital facility to Bboxx, a next-generation utility provider expanding access to clean energy and other services across Africa. The proceeds of the innovative transaction will allow next generation utility provider Bboxx to stabilize and expand its manufacturing facilities in Asia. The funding comes at a time marked by disruption in global supply chains and will take place through a Climate finance fund managed by responsAbility.
responsAbility Investments AG, a leader in impact investing focused on private debt and private equity across emerging markets, has closed an USD 8 Million working capital facility to Bboxx. responsAbility’s financing will allow Bboxx to stabilize and expand its manufacturing facilities in Asia, supporting the company’s continued efforts to manufacture and supply innovative products to bolster access to utilities in communities across Africa. The funding comes at a time marked by disruption in global supply chains. The transaction will take place through a Climate finance fund managed by responsAbility.
Next-generation utility provider Bboxx is an industry leader and a global pioneer of Pay-As-You Go (PAYG) solar home systems. They also provide a range of clean cooking, mobile technology and accessible financial solutions, all managed through their Bboxx Pulse® platform, a comprehensive management platform using IoT technology and enabling clean energy access to be scaled to places previously considered too expensive or difficult to reach via traditional grid infrastructure. Bboxx currently operates across Rwanda, the Democratic Republic of Congo, Togo, Kenya, Nigeria and Burkina Faso. Bboxx is positively impacting the lives of more than 2.5 million people with its products and services and has over 1,000 employees across the world.
responsAbility’s climate finance funds support renewable energy, energy efficiency projects and companies to promote access to reliable, clean, and affordable energy in developing and emerging countries while catalysing sustainable development and contributing to the UN SDGs.
Welcoming the funding, Mansoor Hamayun, CEO and Co-Founder of Bboxx, said: “We founded Bboxx 12 years ago to transform lives by providing utilities to historically under-serviced communities. With the climate crisis gathering pace, this mission is more vital than ever. This latest funding will help us continue to deliver more affordable and accessible clean energy solutions to some of the most vulnerable.”
Antoine Prédour, Head of Climate Finance and member of Senior Management at responsAbility Investments: “We are excited to announce the closing of a tailor-made working capital facility with Bboxx, for its manufacturing operations in Asia, facilitating the company's continued efforts to provide an increasing access to energy for customers across Africa.” About responsAbility Investments AG responsAbility is a leading impact asset manager who designs investment products that make the world more sustainable. Since our inception in 2003, we have been investing in growth markets, directing capital where it is scarce, and targeting both measurable positive impact and attractive financial returns. Currently, responsAbility manages USD 3.7 billion in assets invested in over 300 ESG-vetted high-impact companies in 76 countries. Since inception, funds managed by responsAbility have provided over USD 11 billion in debt and equity financing to companies active in the areas of climate finance, financial inclusion, and sustainable food whose business models directly contribute to the United Nations Sustainable Development Goals (SDGs). responsAbility is headquartered in Zurich, Switzerland, with offices in Bangkok, Lima, Mumbai, Nairobi, Oslo, Paris and Tbilisi. The company's shareholders include its own employees as well as various renowned Swiss and international financial institutions. responsAbility is authorized by the Swiss Financial Market Supervisory Authority FINMA. About Bboxx Bboxx is a next generation utility, transforming lives and unlocking potential through access to energy. Bboxx manufactures, distributes and finances decentralised solar powered systems in developing countries. It is scaling through forging strategic partnerships and its innovative technology Bboxx Pulse®, a comprehensive management platform using IoT technology. Through affordable, reliable, and clean utility provision, Bboxx is bringing people into the digital economy, creating new markets, and enabling economic development in off-grid communities and those living without a reliable grid connection. The company is positively impacting the lives of more than 2.5 million people with its products and services in over 27 markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals. So far, Bboxx has deployed more than 500,000 solar home systems. Bboxx has over 1,000 staff across nine offices including in the Democratic Republic of Congo, Kenya, Rwanda, and Togo, with its head office in the UK and its manufacturing operations in China. In 2019, Bboxx was the winner of the Zayed Sustainability Prize in the Energy category – testament to the way the company is making a meaningful difference to people’s lives around the world.
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