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Egypt’s KarmSolar Among “Companies To Inspire Africa 2019,” According To London Stock Exchange Group

In its second edition of “Companies To Inspire Africa Report,” Egypt’s one and only solar startup makes it to the list.

Staff Writer

London Stock Exchange Group has just announced Egypt’s fastest growing solar energy solutions company, KarmSolar, to be one of the “Companies to Inspire Africa 2019.”

The annual report aims to bridge gaps between investors in London seeking exposure to new geographies and opportunities, by highlighting the exciting potential of a number of SMEs in emerging markets. To be included in the list, companies needed to be privately held, and show an excellent rate of growth and potential to power African development.

“As we continue to drive the growth of the private solar energy market in Egypt, we are delighted that our efforts have been recognised by an organisation as established and credible as the London Stock Exchange Group,” says Amr El Sawaf, Chairman of the Board of KarmSolar. “The ‘Companies to Inspire Africa Report’ recognises the commitment made by KarmSolar to be at the forefront of innovation, operations and research and development in the renewable energy sector.”

In September 2018, KarmSolar signed an agreement with Attijari Finances to act as the global advisor and coordinator for the company’s equity fundraising process, aiming to raise approximately EGP 500 million of equity in the first phase of the agreement to operate the first batch of its solar powered stations.

 

You can read the report here.

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