TechInAfrica – Greentec Capital declared that Shequity provided investment for Widenergy Africa. Shequity is an investment tool that was just launched and focused on smart and sustainable investment for entrepreneurs and women innovators in Africa.
As a company that was directed by a Zambian woman, WidEnergy met the requirement of investment criteria set by Shequity, as the innovative business and technology-based that promoted women. With the Paygo model, WidEnergy demonstrated impressive growth in providing solar home systems for Zambian villages. Working together with women resellers, WidEnergy brought access to cheap jobs and energy for women in African villages. Impressively, WidEnergy almost doubled its customer base in the previous year and worked on the infrastructure development to support the African transition.
The Founder and Managing Director of Shequity, Pauline Koelbl stated that they are excited to invest in WidEnergy, a company led by African women that focus on providing the affordable electrification line. Generally, the impact of having electricity access is big: for example, access to enhance education by increasing the study to time for 50%. She added that WidEnergy has presented how access to green energy gives positive outcomes to many sectors, such as health, education, and jobs. Shequity expects that they can work together with WidEnergy to double the positive impact for many people in Africa, especially women and children.
The CEO of WidEnergy Africa, Liliane Munezero also mentioned that her company is intended to increase many people’s lives that have been living without electricity and energy, particularly in this current condition. She believed that the investment from Shequity is right in WidEnergy, it enabled them to prevent this difficult situation.