Lendahand Ethex fell right into a loss final 12 months, in what it described as a “powerful” interval for its buyers.
The moral funding platform, which trades below the identify Energise Africa, is a three way partnership owned by European affect investing platforms Ethex and Lendahand. It funds renewable power initiatives throughout Africa.
It posted a lack of £266,370 for the 12 months to 31 December 2022, in comparison with a £64,791 revenue the earlier 12 months, in line with paperwork filed with Firms Home.
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“Energise Africa’s platform volumes had been down in 2022, and it was a tricky 12 months for our investee purchasers, who instantly skilled the knock-on results of Covid and war-induced inflation on small companies in rising economies,” mentioned Lisa Ashford, chief govt of Energise Africa.
“Nonetheless, regardless of the rise in rates of interest out there from different funding merchandise, we’ve seen a constructive shift in momentum for investments in our direct funding alternatives in high-impact clear power initiatives and investor demand has remained sturdy.
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“Due to its sturdy money place, the corporate has been capable of proceed investing in diversifying its funding provides, platforms, and product improvement, all of that are paying off with a rising and wholesome pipeline.”
The corporate was owed £1,557,242 from different collectors as of the top of 2022.
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Ashford mentioned that this represents grants obtained that aren’t but recognised as revenue, reasonably than borrowings or quantities on account of third events.
“Total, the corporate’s stability sheet and liquidity place had been sturdy on the finish of 2022,” she added.