ZAMBIA – Solar home kit supplier WidEnergy Africa has received funding from Shequity, an investment compnay backed by GreenTech Capital that promote women enterpreneurship in Africa.
The funding will enable WidEnergy to bring its clean energy solutions to rural areas in Zambia.
Created and run by women, WidEnergy Africa provides green energy solutions in rural Zambia with continental ambitions.
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 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 its project “Product-based Micro-Lending to Underserved and Off-Grid Rural Smallholder and Smallholder Enterprises”.