Baobab+ Raises EUR 4 Mn For Regional Expansion

The French West African solar distributor, Baobab+, announced that it raised EUR 4 Mn (USD 4.7 Mn) from two investors. The Energy Entrepreneurs Growth Fund, managed by Triple Jump and Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI-OGEF), managed by LHGP Asset Management, invested EUR 2m Mn each, bringing the total to EUR 4 Mn.

Baobab+ is a social enterprise that promotes socio-economic growth in several rural African areas by providing access to energy, digital services, and programs. It has an established presence in Mali, Madagascar, Senegal, Côte d’Ivoire, and is currently being set up in Nigeria and the Democratic Republic of Congo. The funds will support its growth and expansion in Senegal and Côte d’Ivoire.