MKOPA debt

active

 M-KOPA (“M-KOPA” or “the Company”) is an existing platform providing essential products and services on a credit sale basis in the African region with a presence in Kenya, Uganda, Nigeria and Ghana. Established in 2011, M-KOPA started operations in Africa by providing solar powered home appliances in Kenya. Since then, it sells solar lighting, energy efficient television sets, fridges, smart phones, cash loans and more recently insurance on a credit sale basis by allowing its customers to pay for their assets over time. The company website can be found at: (https://m-kopa.com/).  M-KOPA has offices located in Nairobi, Kenya and Kampala, Uganda. M-KOPA also has in Kenya a central warehouse, shops and depots which are used as stocking points. In addition, M-KOPA shares premises in depots not owned or operated by M-KOPA. In Uganda, M-KOPA operates service centres, service depots and non-servicing depots. The proposed investment is a senior secured loan of up to US$50 million to M-KOPA Kenya Limited and senior secured loan of up to US$15 million to M-KOPA Uganda Limited (the “Project”). The IFC financing is part of a US$180 million sustainability-linked multicurrency receivables financing facility arranged by Standard Bank of South Africa in the form of 5-year local currency loan facilities to be split among the subsidiaries of M-KOPA Holdings Limited in Kenya and Uganda. The Company does not have a plan for new construction or expansion of the current premises within the scope of the Project. The project entails the sale and delivery of smart phones and solar home systems on a credit sale basis primarily, digital financial services in addition to some household appliances (television screens and fridges) to their clients.