PayGo Energy

Kenya Infrastructure

We are invested in PayGo Energy through Novastar Ventures East Africa Fund I LP, which is managed by Novastar Ventures limited.

We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, CDC takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.

  • Active
  • Exited

Energy Access Ventures Fund

PayGo Energy is a distribution service that harnesses the power of pay-as-you-go-technology to bring modern LPG fuel and cooking equipment to homes. PayGo Energy installs smart metering systems on gas cylinders that enable customers to pre-pay for cooking gas. The smart meters monitor customer gas consumption and predict when gas is going to run out which allows for proactive replenishment of gas.

For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, East Africa
Countries:
Kenya
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Infrastructure
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Energy Access Ventures Fund
Fund Manager:
Aster Capital Partners
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
April 2017

Novastar Ventures East Africa Fund I LP

PayGo Energy is a distribution service that harnesses the power of pay-as-you-go-technology to bring modern LPG fuel and cooking equipment to homes. PayGo Energy installs smart metering systems on gas cylinders that enable customers to pre-pay for cooking gas. The smart meters monitor customer gas consumption and predict when gas is going to run out which allows for proactive replenishment of gas.

For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, East Africa
Countries:
Kenya
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Infrastructure
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Novastar Ventures East Africa Fund I LP
Fund Manager:
Novastar Ventures limited
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
April 2017