Lendable is excited to announce that it has partnered with Standard Bank Group, and a consortium of lenders, to provide monitoring and verification services for the $202 million sustainability-linked multi-currency debt facilities to M-KOPA Kenya and Uganda, led by Standard Bank.
Lendable will use its proprietary data platform, Maestro, to verify the collateral borrowing base of the borrower, as well as the sustainability milestones it achieves. As a tech first impact investor, Lendable has the market knowledge, experience, systems and capabilities to effectively verify and monitor debt facilities from both a security and a sustainability perspective.
M-KOPA is a connected asset financing platform that offers millions of underbanked customers access to life-enhancing products and services. It has provided nearly $1 billion in credit that has enabled over 3 million customers to access solar lighting, energy-efficient televisions and fridges, smartphones, cash loans, and more¹.
Standard Bank is Africa’s largest bank, with 160 years of history. It offers a range of banking and related financial services across sub-Saharan Africa.
Chris Wehbé, CEO of Lendable stated, “We are delighted to partner with M-Kopa, Standard Bank and the broader lending group to support financial inclusion and energy access across the African continent”.