A few weeks ago, Nigerian start-up Zola Electric signed a $ 32.5 million financing facility. Funding from the Netherlands Development Finance Company (FMO) and Symbiotics, a Geneva-based investment company.
As the first company in the world to offer private solar systems to individuals, Zola Electric is therefore partnering with the Dutch Development Finance Corporation and a Swiss investment company specializing in sustainable and inclusive finance to develop its services. in Tanzania. An evolution to provide electricity to an additional 145,500 homes, primarily in areas that do not benefit from electricity distribution infrastructure.
Zola Electric also wants to create more than 2,000 new jobs in the off-grid solar sector.
More people connected in Tanzania
The company is pleased to announce this new investment through the voice of Bill Lenihan, Co-CEO of Zola Electric: “This will allow us to connect more people in Tanzania, support the communities in which we operate, and further develop of our state-of-the-art power systems. ”
The company Zola Electric was already known in the energy sector for its very inexpensive offer, accessible to the poorest people, with a cost of about $ 0.19 per day only.