Rural electrification is one of the last major electrification projects in Africa. Off-grid solar solutions offer one of the fastest ways to close this gap, and many companies are finding ways to get involved.
Baobab +, the supplier of solar solutions, has just obtained funding of 4 million euros for its activities in Côte d'Ivoire and Senegal. It will provide solar home systems to households and microenterprises in rural communities in these two countries.
"While in rural areas, only half of the Senegalese population has access to energy and this proportion is less than 40% in Côte d'Ivoire, these fundraising will greatly help to remedy this situation by allowing us to extend our solar kit distribution network in these two countries while targeting more micro-entrepreneurs through the distribution of kits for productive use , ” says Alexandre Coster, founder and CEO of Baobab +.
The funds were mobilized from the Energy Entrepreneurs Growth Fund (EEGF), a fund dedicated to the growth of companies in the energy sector and the Facility for Energy inclusion Off-Grid Energy Access Fund (FEI-OGEF), a mechanism of the African Development Bank (AfDB). The two funds are respectively managed by Triple Jump and by LHGP Asset Management.
Baobab + is already present in Côte d'Ivoire and Senegal where it has distributed 150,000 kits. The company which has set out to conquer the energy market in sub-Saharan African countries is also present in Mali and Madagascar. She also has sights on the Democratic Republic of Congo and Nigeria.