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Part of the funding will be used to expand the business’ presence. Countries like South Sudan, Burundi, Chad, Malawi, Burkina Faso, Madagascar and Tanzania are among the least electrified in the world and could benefit from clean energy technologies. The company was founded in 2007 by T. Patrick Walsh (CEO) and Anish Thakkar.
Qotto , a solar kits provider with operations in Burkina Faso and Benin, has raised $8 million in a Series A equity-debt round led by the IBL group, a billion-dollar conglomerate headquartered in Mauritius with business interests in a number of sectors including energy, financial services, logistics, distribution, and engineering.
MSMEs are the engine of economies in Africa, and powering existing small businesses and encouraging the formation of new MSMEs helps create the type of economic growth and social benefit that carries over to households by creating more opportunity and more jobs,” the company’s CEO and co-founder Manoj Sinha, told TechCrunch.
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