Global law firm Hogan Lovells has advised The Eastern and Southern African Trade and Development Bank (TDB) on a US$30 million securitization based facility that will develop affordable, solar-powered energy in Tanzania.
The borrower, Brighter Life Tanzania 1 Limited (BLT1), a new financing vehicle established by African Frontier Capital (AFC), will use the capital to assist d.Light Tanzania with the scale up of its low-cost Pay-Go personal finance service in the country to enable more low-income people and households to purchase the company’s solar products.
Hogan Lovells previously advised the United States International Development Finance Corporation (DFC) on a financing for d.Light Kenya (through AFC’s off-balance sheet financing vehicle Brighter Life Kenya 1 Limited (BLK1)) and later advised Norfund, Okocredit, responsAbility Investments AG, and DFC on a US$62 million financing facility to Brighter Life Kenya 2 Limited (BLK2), to further support d.Light’s growth in Kenya.
Hogan Lovells partner Andrew Taylor commented, “we are delighted to support the continued expansion of d.Light in Africa and to have worked with TDB on this transaction, which will help to improve energy access and financial inclusion for those living off-grid in Tanzania.”
The Hogan Lovells team was led by London partner Andrew Taylor, supported by senior associate Oliver Travers.
