Badili has received a $400,000 loan from Proparco to support its refurbished smartphone initiative, aiming to reduce electronic waste, improve digital access, and promote sustainability in Africa’s tech ecosystem.
Enhancing Smartphone Accessibility and Connectivity
The financing will improve smartphone accessibility in Kenya, strengthen connectivity, and contribute to sustainability efforts. The funding is structured as bridge financing, allowing young and innovative African companies to utilize financial support for up to 24 months to accelerate growth between funding rounds.
Environmental and Economic Impact
Through Badili’s initiatives, the overexploitation of natural resources is reduced, and valuable materials are repurposed to limit environmental damage. By providing affordable products, Badili also creates economic opportunities, contributing to Proparco’s mission of fostering responsible environmental practices and supporting socio-economic growth in Kenya and across Africa.
Improving Digital Inclusion
Increasing smartphone ownership helps strengthen local economic resilience, giving more people access to mobile payments, educational platforms, and telemedicine services.
Rishabh Lawania, co-founder and CEO of Badili, shared his thoughts on the financing:
“Validation and trust from PROPARCO greatly boost our team’s morale as we build a sustainable company that enables Africans to own smartphones at a fraction of the cost of a new device. As we move into profitability and expansion across Africa, we are pleased to welcome one of the most progressive and supportive DFIs as part of Badili’s billion-dollar journey.”
This financing marks a significant step toward supporting economic development and environmental responsibility across Africa.