Nanoporous, p-type NiO films were sensitized with coumarin 343 (C343), and the photoinduced electron transfer dynamics was studied in the presence of different concentrations of electrolyte (I-3(-)/I- in propylene carbonate). Electron transfer from the valence band of NiO to the excited C343 is very fast, occurring on time scales from hundreds of femtoseconds to a few picoseconds, but also the subsequent recombination is quite rapid, on the time scale of tens of picoseconds. Nevertheless, formation of an intermediate, attributed to I2-I NiO(+), was observed on the picosecond time scale. Simultaneously the reduced dye was converted back to the C343 ground state, indicating that recombination could be intercepted by 13 reduction. Consistent with that interpretation, we observed oxidized NiO and depletion Of 13 persisting on the millisecond time scale. Complete dye-sensitized solar cells (DSSCs) with these films as photocathode gave up to 10-11% incident photon to current conversion efficiency at the C343 visible absorption maximum, which is the highest value reported for a p-type DSSC. Our results elucidate the main mechanism for photocurrent generation in this p-type DSSC, which is important for the understanding and development of these rarely studied counterpart of conventional n-type "Gratzel cells".