MALI: Off-grid supplier Energy+ obtains finance to distribute its products

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MALI: Off-grid supplier Energy+ obtains finance to distribute its products©portumen/Shutterstock

Energy+, an off-grid supplier based in Mali, has recently obtained $1 million to facilitate the distribution of its solutions in Mali. The company based in the capital Bamako has received the money in various forms from VentureBuilder, Cordaid Investment Management (Cordaid), and the US Foundation for African Development (USADF).

With one out of every two Malians living without electricity (in 2018 according to the World Bank), the government must rely on decentralised solutions to optimise production in order to alleviate this problem. The company Energy+, which provides access to electricity via off-grid solar systems, has just obtained financing to develop its activities in Mali. It has obtained $1 million in various forms and from several development partners.

The off-grid provider has received loans from VentureBuilder and Cordaid Investment Management (Cordaid). The American Foundation for African Development (USADF) provided a grant for the distribution of its off-grid solutions. “In countries such as Mali, the pay-per-use system is the best way to install quality solar home systems in off-grid areas because it provides easy and affordable access to electricity,” said Simballa Sylla, Energy+’s CEO. “With the help of VentureBuilder, Cordaid and USADF, we will be able to strategically move from being a producer of small electric batteries to being a large-scale distributor of high-quality solar products”.

For households and SMEs (small and medium-sized enterprises), mainly in rural areas, Energy+ provides complete solar kits for lighting and powering machines. The company based in the Malian capital Bamako also distributes solar torches, fans and televisions powered by solar energy. These easy-to-install solutions are accessible to rural populations through pay-as-you-go.

Jean Marie Takouleu

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