Kenya's off-grid and mini-grid sector has produced some of the most instructive financing structures anywhere in the region, from the World Bank-backed KOSAP mini-grid programme to the pay-as-you-go solar model that mobile money made possible at household scale, to the Last Mile Connectivity Project's blend of grid extension and off-grid solutions for communities the grid alone would never reach economically. What ties all of it together is blended finance done deliberately: concessional capital absorbing the risk commercial capital won't price, output-based subsidies tied to verified delivery rather than promises.

We advise developers and financiers on exactly that kind of structuring, matching tariff design to what low-income, low-consumption customers can actually sustain, sizing anchor loads from schools and health facilities to make a mini-grid's economics work, and building the layered capital stacks that let commercial operators participate on terms a purely commercial lender could underwrite on its own.