US Development Finance Corporation invests $10 million in Nithio FI to expand clean energy finance in Africa
“Nithio has created an innovative, data-driven solution that fills a large gap in the market to sustainably scale capital flows to the clean energy sector. By normalizing credit risk, Nithio’s investments will have an outsized impact on achieving universal energy access and combating the effects of climate change,” said Bobby PitmanCo-founder of Nithio and founding partner of Kupanda Capital.
As Nithio enters its next phase of growth, the team thanks Héla Cheikhrouhou for her service as Managing Director and wishes her well in her return to the public sector as Regional Vice President for Middle East, Central Asia, Afghanistanand Pakistan at the International Finance Corporation (IFC).
Nithio is an energy finance platform powered by a proprietary AI-enabled risk analytics engine. Nithio has developed its innovative approach to standardizing credit risk assessments to unlock and expand energy access in Sub-Saharan Africa. Nithio is advancing large-scale energy financing through its financial intermediary, Nithio FI BV, which offers asset-backed financing to off-grid energy providers in Nigeria, Uganda and Kenya. Driven by the risk analysis engine, Nithio FI’s innovative approach expands access to clean off-grid energy for households, micro-enterprises and smallholder farmers. www.nithio.com
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