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Yellow, a fintech startup that finances alternative energy in Malawi and Uganda, has received a USD 23 Mn loan to expand its footprint. SA startup Lion’s Head Global Partner led the funding round.
Yellow distributes solar home systems that provide rural households with access to electricity in this East African country. The company allows pay-per-use of its solar home systems via the mobile payment solutions available in Malawi. It also offers its customers credit by selling its products on a pay-as-you-go (PAYGO) basis.