FMO, the Dutch Entrepreneurial Development Bank, has provided climate fintech platform Nithio with a USD 10 mln in funding for its investment vehicle, FAIR: the Facility for Adaptation, Inclusion, and Resilience. FAIR provides financing to companies offering clean energy solutions to households and small enterprises in Africa.
Together, Nithio and FMO aim to scale financing towards Africa’s climate and energy needs and ensure vulnerable households and small enterprises receive the resources and investment to build climate resilience.
FMO’s investment will enable Nithio to scale its financing to distributors of solar home systems and solar productive use appliances, such as lighting, communication, irrigation, and cooling systems for households and businesses. These solutions enhance livelihoods, generate jobs, and boost small enterprise productivity.