SunPower Afrique is a 501(c)(3) non-profit organization aiming to connect West African Microfinance Institutions and their clients to solar energy.
We believe that microfinance is one of the world’s most effective strategies to fight poverty, but its growth is significantly constrained due to a lack of consistent access to electricity.
With solar and microfinance working in tandem, we can change the world.
SunPower Afrique aims, through a pragmatic partnership between solar expertise and field experience with MFIs, to not only support existing microfinance structures and clients, but also to create jobs and to stimulate economic development in a new industry of solar system sales, distribution and installation.
A difficult and all too familiar energy crisis threatens Togo's development on a daily basis. Many cities and towns experience frequent electricity cuts, lasting anywhere from 15 minutes to 48 hours. The lack of reliable energy endangers not only essential services at hospitals, schools and government offices but also puts Togo's developing economy at risk on a larger scale.
Microfinance has become a large and important part of this small West African country's growth in that past 15 years and the ongoing contributions of microfinance institutions (MFI) to both financial progress and societal well-being are paramount. Microfinance is also a sector that suffers significantly in the wake of unreliable energy sources.
Strategy
SunPower Afrique will pilot it’s projects and focus 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 will:
• 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.
