Zambia: Widenergy receives investment from ShEquity
Widenergy Africa has received an investment from ShEquity, a newly-launched investment vehicle that focuses on backing African female entrepreneurs and innovators.
Widenergy has demonstrated strong growth with its pay-as-you-go model for providing solar home systems to rural Zambians. The company has almost doubled its customer base in the last year and is actively working on developing infrastructure to further support Africa’s transition to renewable energy.
Pauline Koelbl, ShEquity founder and managing director said, “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 the Widenergy team to multiply its impact on many African lives, especially women and girls.”
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