ENGIE has made an acquisition which will facilitate access to electricity for millions of households across Africa.
The multi-national utility will keep the Fenix team in place and help scale up its pioneering pay-as-you-go ReadyPay Power platform, which provides people with power for as little as $0.19 per day.
“It’s unacceptable that over 600 million people across Africa lack access to energy. By joining forces with ENGIE, we aim to bring affordable energy and other life-changing products to millions of people living off-grid,” said Lyndsay Handler, CEO of Fenix International. “Realising this ambitious vision will require significant commercial investment and innovation in product, last-mile distribution, inclusive financing and customer experience. With this agreement, ENGIE will provide the support, expertise and opportunities the Fenix team needs to innovate in these areas and rapidly scale the business.”