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Zambian women-led energy startup, WidEnergy Africa has received an undisclosed investment from ShEquity, an investment vehicle that offers smart and sustainable investments to African women entrepreneurs and innovators.
WidEnergy receives an undisclosed investment from ShEquity to provide clean energy solutions
In an official press release, Liliane Munezero Ndabaneze, CEO of WidEnergy Africa said that the aim of the investment is to assist Zambians in rural areas who don’t have access to clean energy solutions.
“We are committed to improving the lives of many people living without reliable electricity and energy. More especially during the current Covid days. With a business as capital intensive and demanding as ours, “who support you” along the way, determines how you thrive: We are confident that the ShEquity timely investment in WidEnergy will enable us to navigate through these uncertain times and that we will together flourish and reach greater heights. We are excited at the possibilities this partnership presents.”
The Zambian woman-led business WidEnergy Africa was established in September 2016 by Liliane Munezero Chabuka, Agnes Imasiku, and BiziSol which is a Sweden-based social for-profit enterprise that empowers African women in clean energy.
The energy startup provides a last-mile distribution of clean energy solutions.
WidEnergy has displayed growth with the Paygo model, which is the pay as you go model, and provided solar home systems to Zambians living in rural areas.
The clean energy startup is a suitable investment candidate for ShEquity as it aims to support innovative tech-driven businesses led by women and supports women.
The startup aims to reduce deforestation in Zambia by accelerating its distribution of clean energy cookstoves and renewably-powered alternatives for domestic appliances that are necessary.
WidEnergy works with predominantly women sales agents to provide access to energy that is affordable while creating job opportunities for women in rural Africa. WidEnergy has reportedly almost doubled its customer base within the last year and aims to accelerate the development of infrastructure to support Africa’s transition to renewable energy.
Pauline Koelbl, Founder and Managing Director of ShEquity explains that the investment in WidEnergy will greatly impact health and education in Africa.
“We are delighted to invest in WidEnergy, an African women-led company focusing on providing an affordable path to electrification. The impact of having access to electricity is widely known: for instance, having access to electricity improves education by increasing study time by 50%! WidEnergy has demonstrated how access to green energy has a positive impact on health, education, and overall families’ livelihoods. We look forward to working together with WidEnergy team to multiply its impact on many African lives, especially women and girls.”
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Featured image: GreenTec Capital Partners (Supplied)