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A Kenya-based solar power company is planning to use an $80 million loan from the World Bank’s private investment arm to rapidly scale up sales in Nigeria, the world’s most electricity-deprived country.
For nearly two decades, Sun King has sold solar-powered electronics to African households and small businesses with unreliable connections to grids, spreading full product payment over up to two years. Its equipment is made in China and is now available in 11 African countries.
Nigeria is the firm’s fastest-growing market and Sun King hopes to target the nearly 90 million Nigerians estimated to be without electricity, CEO T. Patrick Walsh told Semafor. He said the company has sold two million kits in Nigeria since 2022 and aims to triple that figure in the next few years. Malawi, Tanzania, and Togo are other markets targeted for growth.
