West Africa hogged more than twice as much investment as the east in a year which saw stock market backing plunge an ‘alarming’ 46%, leaving donor grant funding and debt to pick up the slack during a Covid-hit year, according to off-grid industry body GOGLA.
The development lender has established a Covid-19 Off-Grid Recovery Platform with impact investors from the Netherlands, U.S. and U.K., to offer affordable loans to off-grid solar companies operating in Africa.
The latest edition of the Global Off-grid Solar Market Report by the World Bank and GOGLA has called for regulatory and financial support to help off-grid distributors create jobs lost to the Covid-19 pandemic.
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