Nithio, the AI-enabled energy financing platform that directly finances clean energy companies in Africa, has released its 2022 Impact Report.
Of the $632 billion in climate financing raised in 2021, only $19 billion (3%) went to Sub-Saharan Africa, despite being least climate resilient. Nithio was created to address the need for investment in Africa’s sustainable transition by unlocking capital at scale and directing it towards highly-impactful efforts to improve energy access.
Through its own vehicle, Nithio FI, it is unlocking public and private capital at scale towards a just energy transition, building climate resilience and adaptation for communities most impacted by but least responsible for climate change.
Nithio’s inaugural Impact Report outlines how it has achieved its goal to scale impact-driven lending operations across communities in Sub-Saharan Africa, in Kenya, Nigeria, Uganda, and Tanzania. Since mid-2021, Nithio has committed +$15 million in capital across nine investments. These investments have been critical for climate adaptation efforts and have financed +18,000 solar systems, provided almost 100,000 with improved energy access and avoided +32,400 metric tons of CO2 emissions.
As Nithio looks toward continuing its growth and impact in 2023, it will continue to provide the analytics and tools to help investors understand climate risk so that they are better informed to deploy the billions of dollars required to improve energy access.
