Fintech Nithio secures $10M to fuel African climate finance endeavors.

January 26, 2024

The Netherlands Development Finance Corporation (FMO) has invested $10 million in climate fintech company Nithio to support its Facility for Adaptation, Inclusion and Resilience (FAIR), which provides financing for clean energy companies in Africa. Nithio’s FAIR mechanism focuses on financing companies that supply clean energy to households and small and medium-sized enterprises (SMEs) in Africa. The funding from FMO will enable Nithio to expand its financing to solar home system distributors and providers of solar appliances for productive use. Through its FAIR mechanism, Nithio has already provided over 400,200 people with access to energy and 12,100 people with products for businesses. Several other impact investors, including the American Development Finance Corporation (DFC), the Investment Fund for Developing Countries (IFU), and the Shell Foundation, have also invested in Nithio’s facility.