Solar home kit supplier WidEnergy Africa has just received funding from Shequity, an investment company backed by GreenTec Capital that promotes women's entrepreneurship in Africa. The funding will enable Widenergy to bring its clean energy solutions to rural areas in Zambia.
Through its investment in WidEnergy Africa, Shequity aims to contribute to the process of rural household electrification in Zambia, and especially to encourage female entrepreneurship, its leitmotif. Created and run by women, WidEnergy Africa provides green energy solutions in rural Zambia with continental ambitions.
The undisclosed investment is expected to enable the company to expand its activities, including the distribution of solar kits, ranging from solar lamps to solar home systems. It distributes equipment manufactured by reputable suppliers of solar photovoltaic systems on the African continent, including d. Light, Green Light Planet and Little Sun GmbH. WidEnergy Africa also plans to start distributing eco-friendly cookers and other clean energy solutions, “with the aim of contributing to the reduction of deforestation in Zambia”.
“WidEnergy has experienced impressive growth with its pay-as-you-go model for providing solar home systems to rural Zambians. It works with commercial agents, the majority of whom are women, enabling women to access affordable energy and employment in rural Africa,” explains GreenTec Capital Partners, Shequity’s partner.
The investment firm is not the first investor to take an interest in WidEnergy’s activities. In 2019, the Lusaka-based solar kit supplier received a $200,000 grant from the Rural Finance Expansion Programme (RUFEP), a joint initiative of the International Fund for Agricultural Development (IFAD) and the Zambian government. The grant was in support of his project “Product-based Micro-Lending to Underserved and Off-Grid Rural Smallholder and Smallholder Enterprises”.
Jean Marie Takouleu