French DFI Proparco Invests in Africa’s Leading Re-commerce Company Badili
Proparco has provided Badili with a USD 400 K Debt Facility through the Bridge by Digital Africa facility to support its initiative of offering refurbished smartphones. This initiative aims to reduce electronic waste and provide consumers with affordable devices. This financing will enhance smartphone access, improve connectivity, and promote sustainability in Kenya.
This is a Bridge financing deployed by Proparco. The Bridge facility enables young innovative African companies to benefit from bridging finance of up to 24 months to accelerate their development between two rounds of financing.
Badili provides an innovative service by repurposing electronic devices for distribution across Africa, thus reducing the environmental impact by limiting the exploitation of natural resources and promoting the reuse of valuable materials. By improving access to affordable technology, Badili opens up opportunities for communities. This project contributes to Proparco’s mission by promoting responsible environmental practices and expanding socio-economic opportunities in Kenya and Africa. It addresses key challenges such as reducing electronic waste, conserving natural resources, and improving digital inclusion for marginalised communities. Increasing smartphone ownership helps foster local economic resilience, offering more people access to essential online services such as mobile payments, education platforms, and telemedicine. By making tools affordable for low-income users, Badili improves digital inclusion and connectivity.
Rishabh Lawania, Founder and CEO at Badili, mentioned that “Getting validation and trust from PROPARCO is a great boost to the morale of the team that is building a sustainable company that enables Africans to own smartphones for a fraction of the cost of a new one. As we enter into the phase of profitability and expansion into other regions across Africa; it’s a great pleasure to welcome one of the most progressive and supportive DFI in the world as a part of Badili’s billion dollar journey”.
Fabrice Perez, head of the Venture Capital Division at Proparco, emphasised the transformative nature of this project: “Badili’s initiative to refurbishing smartphones locally in Kenya is a game-changer. This project not only promotes economic resilience but also underscores the importance of sustainability in today’s digital economy. Proparco is proud to support a venture that directly aligns with our objectives of fostering environmental responsibility, economic opportunity, and social inclusion in Africa.”
For Proparco, this collaboration with Badili represents a significant step towards addressing the global challenges of reducing electronic waste and the exploitation of mineral resources while also empowering individuals and communities through increased digital access. The financing highlights Proparco’s commitment to fostering sustainable solutions that align with its broader vision of supporting economic development and environmental stewardship across Africa. Proparco remains dedicated to identifying and supporting innovative projects promoting social impact and ecological responsibility.
