🔋Sun King's $156m Solar Deal

Today’s Menu ☕️

🔋Sun King Leads Clean Energy Finance with Landmark $156M Kenyan Solar Deal
🪙 Ghana sets the stage for crypto regulation with licensing rollout by September 2025
💰 ALCB Fund secures $30M from UK institutional investor in landmark 10-year bond issuance
📺 Kava joins the streaming race with bold aspirations
🏍️ Uganda rolls out bold tax incentives to boost local electric motorcycle assembly

If you haven't subscribed, join over 7,000 people curious about Innovation, New Products, New Technologies in Africa.

 🔋CLEAN ENERGY

Sun King Leads Clean Energy Finance with Landmark $156M Kenyan Solar Deal

Sun King, the world’s largest off-grid solar company, has closed a landmark $156 million (KES 20.1 billion) local currency securitisation—Africa’s largest outside South Africa and the first majority-backed by commercial banks. The funding will help provide affordable solar energy to 1.4 million households and businesses in Kenya, expanding access to clean power for underserved communities.

The deal includes $125 million from five Kenyan banks—Absa, Citi, Co-operative Bank, KCB, and Stanbic—and $31 million from development finance institutions like British International Investment, FMO, and Norfund. Sun King’s pay-as-you-go model allows users to pay from just $0.19/day via mobile money.

This transaction follows a 2023 $130 million securitisation, bringing total capital raised in Kenya to $286 million. It supports Sun King’s broader $450 million local currency strategy across Africa, reducing FX risk and boosting local capital markets. The initiative aligns with Mission 300’s goal to connect 300 million Africans to electricity by 2030...…..continue reading

🪙 CRYPTOCURRENCY

Ghana sets the stage for crypto regulation with licensing rollout by September 2025

Ghana is set to begin licensing cryptocurrency exchanges by September 2025, marking a significant shift toward formal crypto regulation. The Bank of Ghana (BoG) has released draft guidelines for Virtual Asset Service Providers (VASPs), covering licensing, anti-money laundering measures, cybersecurity, consumer protection, and user education.

Governor Johnson Asiama emphasized the importance of regulating—rather than resisting—crypto innovation. This policy evolution follows rising adoption, with over three million Ghanaians (17% of the population) actively using digital assets. Under the new framework, only licensed exchanges and wallet providers will be allowed to operate, ensuring market stability and investor protection.

Ghana joins Nigeria and South Africa in advancing crypto oversight and is expected to become a regional benchmark for West Africa. As global demand for digital assets grows, Ghana’s shift from cautious observer to proactive regulator reflects its aim to foster a secure, inclusive, and innovation-driven digital economy........…continue reading

💰 FUNDING

ALCB Fund secures $30M from UK institutional investor in landmark 10-year bond issuance

The African Local Currency Bond Fund (ALCB Fund), managed by Cygnum Capital, has raised $30 million through a 10-year bond issuance under its Euro Medium Term Note (EMTN) programme. This milestone marks the fund’s first investment from a private institutional investor—a UK-based insurance company—demonstrating growing confidence in Africa’s local currency debt markets.

Executed with HSBC as the dealer, the bond will support businesses aligned with the Sustainable Development Goals (SDGs) in sectors like financial inclusion, renewable energy, and affordable housing. The notes, listed on The International Stock Exchange (TISE), hold a Baa1 rating from Moody’s, reflecting the fund’s strong governance and credit profile.

The transaction builds on the programme’s inaugural €25 million bond issued in 2024 and is seen as a catalyst for attracting more international capital. Since inception, the ALCB Fund has deployed over $420 million to 67 companies across Africa, deepening capital markets and driving sustainable development........…continue reading

📺 STREAMING

Kava joins the streaming race with bold aspirations

Africa’s streaming industry is growing, with user numbers projected to hit 46.3 million by 2029. However, revenue remains modest, with just $5.4 million expected in 2025. Global giants like Netflix and Amazon Prime currently dominate the space, but a new local contender, Kava, is set to launch in August 2025.

Founded by Inkblot Studios and Filmhouse Group, Kava will debut with over 30 Nollywood titles and aims to highlight authentic African storytelling. Popular films like Alakada: Bad and Boujee and A Lagos Love Story will feature at launch, with weekly new releases and plans for original content.

Kava enters the market as global platforms scale back African investments, leaving space for local innovation. Yet, challenges remain, as seen with IROKOtv’s pivot and YouTube’s revenue unpredictability. For Kava to succeed, it must offer strong value to viewers and create sustainable income for African creators, positioning itself as a true champion of African content.......…continue reading

🏍️ ELECTRIC VEHICLES

Uganda rolls out bold tax incentives to boost local electric motorcycle assembly

Uganda has unveiled a major tax incentive package to boost local assembly of electric motorcycles, aligning with its 2024 National E-Mobility Strategy. The initiative offers VAT and import duty exemptions on EV parts and a five-year income tax holiday for new industry entrants. This marks a shift from previous short-lived tax waivers on EV imports, focusing instead on building a domestic manufacturing base.

The policy aims to cut emissions, reduce fossil fuel dependency, and position Uganda as a regional hub for green mobility. Firms like Spiro, GOGO, and Zembo are poised to benefit as battery-swapping infrastructure expands.

Beyond tax breaks, the strategy promotes EV charging infrastructure, safety regulations, and workforce training. Uganda targets a full transition to electric motorcycles and public transport by 2030, and full electrification of passenger vehicle sales by 2040.

By supporting local assembly, Uganda aims to cut imports, create jobs, and tap into regional export opportunities under the AfCFTA......…continue reading

 OTHER STORIES

• Why Google’s Biggest Social Media Projects Failed — From Orkut to Google+...…continue reading

• Carbin Africa to lead distribution of TIM Motors’ new car line in Nigeria…..continue reading

Do you know you can join and follow us on our WhatsApp Channel?