26 September 2023
Apis Partners’ portfolio companies Direct Pay Online and Greenlight Planet have been named as Impact Gamechangers 2021 by the UK’s development finance institution, CDC Group
Apis Partners is delighted to announce that two of its portfolio companies have been named by CDC Group as Impact Gamechangers 2021.
The local economic development and social impact that Apis’ portfolio companies create within the communities they serve in Africa and Asia is significant, and we are honoured that CDC recognises this.
Direct Pay Online (“DPO”) is one of Africa’s leading payment services providers, and processes transactions worth $2 billion annually via credit cards, mobile money and e-wallets. DPO has introduced SMEs in 19 African countries to digital payment platforms, helping these businesses thrive. Electronic payments are a key enabler of financial inclusion by reducing friction and increasing efficiency for MSMEs, who are the drivers of economic growth in emerging markets. At the macro level, increased transparency of electronic payments (vs cash) also increases fiscal receipts to local governments.
Eran Feinstein, CEO & co-founder, DPO Group said: “It’s an honour to be featured as one of CDC’s impact gamechangers. At DPO, we know that digital payments and e-commerce have the capacity to accelerate financial inclusion and economic development on the continent. SMEs are the backbone of African economies but often face significant barriers to doing business online. We’re proud to play a role in helping these resilient and enterprising African entrepreneurs take their businesses online.”
Greenlight Planet (“GLP”) is a leading provider of off-grid solar financing products for energy- and financially-underserved consumers and businesses who lack reliable access to the grid across Africa and Asia. GLP provides c. 12 million people with life-changing solar home energy solutions and accompanying financing to increase the affordability of these products; the company enables access to clean energy at low prices and customers are also able to develop formal credit histories. The Company’s products help families live brighter, safe and more productive lives, whilst reducing harmful greenhouse emissions, by substituting costly and polluting kerosene-powered lamps: over 735,000 tonnes of carbon dioxide emissions were avoided in 2020 as a result of GLP customers not burning kerosene-fuelled lighting.
Patrick Walsh, Co-founder and CEO of Greenlight Planet said: “We appreciate the work of CDC and other development finance institutions that have committed to supporting access to energy via access to finance for off-grid solar systems. Their support is crucial to the continued growth of the capital-intensive pay-as-you-go solar industry, and thus in realizing the UN’s Sustainable Development Goal 7 of affordable and clean energy access for all.”