Amadagana & Partners has advised EDFI Electrifi with the signing of a €3 million debt facility with UpOwa, the leading Pay-As-You-Go solar home system and energy services provider in Cameroon.
Our Team was was led by Lynda Amadagana (Partner), assisted by Guy Mbenda (Senior Associate), Jean Bangwen (Associate) Victorine Epee (Associate) and Vincent Ngute (Associate). Our team acted as the cameroonian counsel alongside the firm Bignon Lebray.
Our Managing Partner, has declared “We are delighted to bring our expertise in the financing sector to EDFI Electrifi in the framework of this project in Cameroon“.
About EDFI Electrifi
EDFI ElectriFI is an EU-funded impact investment facility, financing in early stage private companies and projects, focusing on new/improved electricity connections as well as on generation capacity from sustainable energy sources in emerging markets. The facility is funded by the European Union. The total size of the ElectriFI facility is 215 million euros.
UpOwa is an off-grid energy company distributing solar home systems using pay-as-you-go technology and is the first mover and currently the leader in Cameroon. UpOwa operates a lease-to-own model where the buyer pays an upfront fee and then a monthly leasing fee based on an 18 to 24-month contract period.
More coverage on the project : https://www.electrifi.eu/news/upowa-raises-e3m-from-edfi-electrifi-to-accelerate-expansion-in-cameroon/