Sun King, the world’s largest off-grid solar energy company, has secured a landmark KES 20.1 billion (USD 156 million) securitisation deal, the largest of its kind in Sub-Saharan Africa outside South Africa. This financing aims to expand solar power access for an estimated 1.4 million low-income households and businesses across Kenya.

• The deal, arranged by Citi and with Stanbic Bank Kenya Ltd as placement agent, is backed by a consortium of five commercial banks and three development finance institutions.
• Sun King's second and largest KES-denominated securitisation builds on a $130 million deal from 2023.
• The company's pay-as-you-go model allows customers to purchase solar home systems and smartphones through daily mobile money payments starting at just KES 25 (USD 0.19).