Posted on 30/08/2018 12:24:59
Energise Africa will receive an additional £1.6 million of capital from UK aid
Energise Africa will receive an
additional £1.6 million of capital to attract crowd investment from 1,500 new
small UK investors, and connect at least 125,000 more people to clean, reliable
energy – allowing the programme to reach a total of 325,000 people living
currently without access to Energy in Africa.
The announcement was made during the PM’s visit this week to three African countries and Lisa Ashford, Energise Africa’s MD accompanied her as part of the British businesses delegation.
UK aid is supporting the growth of innovative solar technology companies which are providing clean energy to off-grid households in Africa, Minister for Africa Harriett Baldwin announced on Wednesday 29th August as she accompanied the Prime Minister on a visit to Nigeria. This will improve the lives of over 11 million people while boosting UK business opportunities.
Approximately two-thirds of the population across sub-Saharan Africa have no access to electricity. Innovative off-grid technology such as pay-as-you-go household solar systems can provide this much-needed modern energy.
This technology empowers women by reducing their need to travel for energy, helps children study in the evening, boosts small businesses which can operate more efficiently with reliable power, and reduces the need to use dangerous, polluting fuel sources such as kerosene.
To boost opportunities for businesses in this growing market, UK aid, through the Department for International Development, is:
Minister for Africa
Harriett Baldwin said:
“Africa’s solar industry is vibrant and exciting, full of potential to transform the lives of millions of people who are still living off the grid. By sharing British expertise we’re allowing this industry to flourish, helping the poorest to access clean, sustainable energy, while also opening up opportunities for UK business and investment. This is a win for African countries and a win for the UK. The innovative solar sector is vibrant and booming in some areas of Africa, but the growth of companies is often restricted by market barriers such as a lack of access to finance and business support, high tariffs on essential components, lack of infrastructure for mobile payments, and lack of appropriate disposal facilities.
Enabling these companies to grow is not only benefiting some of the poorest households with life-changing access to energy, but creating jobs and boosting local economies to trigger long-term sustainable economic development. Strengthening the solar market in Africa is opening up opportunities for the UK’s own pioneering solar industry to access the untapped potential offered by African markets. Proven examples of this include Sollatek, a Slough-based firm which, working in partnership in Africa and with investment via Energise Africa, has become one of the leading providers of specialist solar electronic equipment in East Africa.”