At the end of June 2017 BESTSELLER FOUNDATION formalized an investment into SOLARKIOSK AG that will see SOLARKIOSK increase the number of kiosks – dubbed E-HUBBS – that it currently has in its core countries of operation in East Africa; Kenya, Tanzania and Rwanda. The solar panels that lend their name to the business are the backbone of mini-grids that can power E- HUBBS in a number of configurations depending on the context – e.g. a market place, a health center, a business hub or a mix thereof.
The investment will enable SOLARKIOSK to set up an additional 85 E-HUBBS and with an average of 5,000 households in the catchment area of each E-HUBB some 425,000 households will feel the difference a nearby E-HUBB makes. In addition E-HUBB operators will be recruited locally – in some places one and in other places two – which will create direct employment for approximately 120 people.
There’s a strong mission alignment between BESTSELLER FOUNDATION and SOLARKIOSK which provides the basis for a solid partnership that will enable, empower and enhance the sustainable economic development of communities at the base of the pyramid.
Clermount acted as sole financial advisor to SOLARKIOSK in the context of their equity raising.