On the advice of StratLink Africa and with the support of the Africa Enterprise Challenge Fund (AECF), Qotto, the solar kits provider with operations in Burkina Faso, Benin and Côte d’Ivoire, has raised €8 million in a Series A round led by IBL Group, a Mauritius-based conglomerate active in energy, financial services, logistics, distribution and engineering.
With this funding, Qotto aims to extend its geographic footprint and reach 25,000 customers by the end of 2023. The company will expand its operations in West Africa, enlarge its distribution network and improve its services. East Africa is also a priority for Qotto through this mix of equity and debt financing.
