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GreenTec Capital Invests in Zambia’s WidEnergy Africa

WidEnergy Africa - Founder360

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GreenTec Capital Invests in Zambia’s WidEnergy Africa

GreenTec has announced an investment into Zambia-based WidEnergy Africa LTD.

WidEnergy is a woman-led Zambian for-profit social enterprise dedicated to women’s empowerment and the expansion of affordable energy access.

WidEnergy focuses on expanding access to affordable energy through the innovative application of the PAYGO (pay-as-you-go) model, which has a low penetration rate in Southern Africa providing a large market opportunity.

The company’s name is an acronym for “Women in Development,” reflecting the company’s goal to engage women as active participants in Africa’s energy transition.

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WidEnergy works with 80 women sales agents to distribute renewable energy solutions and expand energy and connectivity access in Zambia. The company focuses on core competencies in lending and distribution, to develop a high-quality lending portfolio with minimized default risks.

They have developed partnerships to be the Zambian distributor for d.light, Greenlight Planet, and Little Sun solar appliances and home systems. WidEnergy expects to reach more than 1,250 households connected by July, 2019.

The WidEnergy team recently completed the integration of MTN backed mobile-money payments into its platform, greatly facilitating user payments.

Image Credits: WidEnergy

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