In Nigeria, Catalyst Fund announced on Tuesday, March 19, 2024, the completion of an undisclosed investment in the climate start-up Earthbond, which finances solar assets for the benefit of Nigerian small and medium-sized enterprises (SMEs).

Earthbond has just received an investment that it will use its business and plans to finance solar solutions for 1500 SMEs, during its first full year of activity. “Our collaboration will support Earthbond's expansion in Nigeria by facilitating connections with solar partners, fintechs, and investors. This will broaden the financing capacity and geographic reach of the start-up and, ultimately, its mission to supply 1 million SMEs with solar energy in a profitable and sustainable way,” explains Catalyst Fund

Faced with growing challenges in access to energy, Nigerian SMEs spend around $29 billion per year to power diesel generators for their businesses, according to Catalyst Fund data. Earthbond plans to supply more than 1500 SMEs with more sustainable solar kits and solutions, thanks to financial support from the venture capital fund Catalyst. Thanks to its solutions, Earthbond is making SMEs evolve sustainably towards more sustainable energy