The International Finance Corporation (IFC) has announced plans to invest up to $80 million equivalent in local currency in Sun King Nigeria Limited (SNL), a leading distributor and financier of solar products. The funding, structured as a senior loan with a tenor of up to seven years, aims to support the company’s growth in Nigeria’s energy sector while mitigating the risks of currency mismatches amid the country’s inflationary pressures.
The funds will enable SNL to expand its Pay-As-You-Go (PAYGO) consumer finance portfolio and extend its range of solar products to low- and middle-income households as well as Micro, Small, and Medium Enterprises (MSMEs). This initiative seeks to provide affordable and clean energy solutions while reducing SNL’s reliance on foreign currency borrowing.
Chinese (Simplified)
Arabic
Dutch
English
French
German
Italian
Portuguese
Russian
Spanish