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Tanzania: $32.5m loan for Zola Electric

Dutch development bank FMO and specialist financier Symbiotics have agreed a $32.5m facility with Zola Electric, the brand name of Off Grid Electric, to finance the expansion of the company’s operations in Tanzania over the next five years. During those five years Zola plans to provide electricity to an additional 145,500 households, creating 2,100 new jobs in the off-grid industry.

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