SOLAR energy provider WidEnergy has just received investments from the Opes-LCEF fund to enable the Zambian-based company to cope with the consequences of the COVID-19 pandemic.
WidEnergy will rely on Opes-LCEF’s funding to revive its business after a long period of difficulty due to the global health crisis.
The Opes-LCEF investment will also allow WidEnergy to expand its distribution network.
WidEnergy operates mainly in remote areas of Zambia, where it distributes solar-powered lamps and other appliances.
Similar funding to a Rwanda-based start-up has taken off through solar energy provider Munyax Eco to install solar water heaters, as well as off-grid solar systems and solar street lights in Kigali.
The company launched in 2013 is expanding its services in Rwanda and claims 1,200 customers, mainly in the solar water heater segment.
The Munyax Eco and WidEnergy projects are being funded by the Opes-LCEF fund.
The Opes-LCEF fund financed the two solar energy providers as part of “Restart East Africa”.
This emergency fund in response to Covid-19 supports innovative businesses and organisations that have been affected by the pandemic.
The fund also finances companies that have proposed innovative solutions in response to Covid-19.