MICROCAPITAL BRIEF: Baobab+ Borrows $5.1m from Symbiotics to Boost Solar Electrification in 6 Countries in Africa

Symbiotics, a Switzerland-based investor focused on small businesses in low- and middle- income countries, recently extended a loan of EUR 5 million (USD 5.1 million) to Baobab+, a French energy and technology company, with the objective of increasing electrification rates in Congo, Cote d’Ivoire, Madagascar, Mali, Nigeria and Senegal. Founded in 2015, Baobab+ provides access to solar energy and digital technology with the goal of