Newly launched women-entrepreneurs-focused fund ShEquity has made its second investment in Zambian cleantech startup WidEnergy, after the fund recently invested in Kenyan AI startup SuperFluid Labs. The amount involved in this round of financing is undisclosed.
“At WidEnergy, we believe that improving the lives of the many people living without reliable electricity and energy will allow us to change the narrative on the African continent by empowering them enjoy better health, better education for their families. Having ShEquity invest in a women-led company such as ours, proves and emphasizes what women can achieve when they collaborate to advance a united vision; one that benefits communities and leaves an impact beyond the current generation. We are confident that this investment in WidEnergy will enable us to navigate through these certain times and that we will together flourish and reach greater heights,” Liliane Munerozero Ndabaneze, CEO and founder at WidEnergy.
A Look At WidEnergy
- WidEnergy is a woman-led for-profit social enterprise which is dedicated to female empowerment and the expansion of affordable energy access. It leverages an innovative pay-as-you-go (PAYG) model to provide solar-powered homes and appliances.
- The company’s name is an acronym for “Women in Development,” reflecting its goal of engaging women as active participants in Africa’s energy transition.
- WidEnergy works with 80 female sales agents to distribute renewable energy solutions across Zambia, focusing on core competencies in lending and distribution to develop a high-quality lending portfolio with minimized default risks.
“The investment ethos of ShEquity is novel given the several structural and societal inequalities that usually curtail the fulfillment of aspirations of several visionary women. The company is providing a unique platform to equalize gender gaps and will allow many female entrepreneurs to achieve their set business vision much more easily than before. We join others to celebrate ShEquity on this noble cause,” SuperFluid co-founder Winifred Kotin said about ShEquity’s vision.
Read also: Zambia: Startup WidEnergy Secures Funding From GreenTec Capital
- It has developed partnerships to be the Zambian distributor for d.light, Greenlight Planet, and Little Sun solar appliances and home systems, and expects to connect more than 1,250 households connected by next month.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer