Solar Energy + Microfinance = SunPower Afrique
SunPower Afrique’s projects offer a solution to the problem of insufficient and inconsistent electricity for West African MFIs and their clients’ businesses, one of the largest obstacles to their operational self-sufficiency and constraining both development and impact in the region.
Most importantly, SunPower Afrique’s objective is to create a successful and tangible example of how a solar industry can be established in countries such as Togo – reducing poverty, raising the quality of life and boosting local and regional development.
Strategy
SunPower Afrique has piloted its projects and focuses efforts in Togo, West Africa. Not only does SunPower Afrique see a strong market for solar energy in Togo, due to its proximity to the equator, relative political stability, and small geographical size, Togo is uniquely positioned to take advantage of solar power to solve its energy crisis.
SunPower Afrique’s programs:
• Provide reliable and renewable solar power to microfinance institutions MFIs, allowing them to fight poverty more efficiently by enhancing services and achieving development goals.
• Initiate a ‘Solar Loan Program’ that allows MFI clients access to loans and trained local workers to install small-scale solar energy systems to increase the capacity of small businesses.
• Educate local populations about the economic and environmental benefits of solar energy through MFIs’ existing outreach networks.
• Train local workers to install and maintain solar energy systems; Support workforce development, create jobs and boost local economies.
