The investment will support low-income families in Kenya, Nigeria, Uganda, Zambia and Tanzania.
Universal access to affordable, reliable and modern energy services is one of the United Nation’s Sustainable Development Goals and can only be met with access to sufficient investment. Crowdfunding has emerged as a powerful way of financing the off-grid solar industry and is leading the way in increasing investor interest in the market.
Azuri is a leader in pay-as-you-go solar technology and since 2012 has been supplying affordable solar home systems and products to the millions across Africa living off-grid without access to mains electricity.
In 2018, Azuri and Energise Africa raised $2.2 million (£1.7 million) from hundreds of UK investors to deliver clean, affordable energy products to more than 16,000 families in sub-Saharan Africa.
Simon Bransfield-Garth, CEO of Azuri, said, “Azuri is delighted to extend our partnership with Energise Africa and their community of UK-based retail investors to finance off-grid solar projects. With this innovative financing, thousands more households will be able to access modern solar energy for the first time.”
Lisa Ashford, Managing Director Energise Africa, added, “Through Energise Africa, we are committed to providing UK based people with easily accessible opportunities to invest directly in sustainable businesses that can tackle climate change, create long-term social and environmental impact, and also deliver a potential financial return.”
Energise Africa has been developed by Ethex and Lendahand – two of Europe’s leading impact investing companies and is also supported by UK aid, Virgin Unite, Good Energies Foundation and P4G.