Climate Finance: Fintech Nithio Raises $10 Million for Its African Operations

Source: Afrik 21

The Netherlands Development Finance Corporation (FMO) has committed $10 million to climate fintech Nithio's Facility for Adaptation, Inclusion and Resilience (FAIR). The platform finances solar energy for productive use.

According to the Dutch investor, the $10 million funding will enable Nithio to extend its financing to distributors of solar home systems and solar appliances for productive use, such as lighting, communication, irrigation and cooling systems for households and businesses.