It is with great excitement that we announce that we have been selected as a winner of the 2024 Digital Energy Challenge, an initiative by Agence Française de Développement (AFD) supporting innovative digital solutions in the energy sector. This award recognises our efforts in enhancing energy access and sustainability through technology-driven approaches.
Our winning project, the Superpower Africa Fund, focuses on providing affordable capital to small but growing African businesses operating with PayGo or energy-as-a-service models. These models, while expanding market reach and benefiting end-users, often present cash flow challenges for businesses. To address this, we deploy sophisticated algorithms to analyse customer payment data to offer working capital loans based on projected receivables, effectively converting future payments into immediate cash without requiring collateral.
This approach has already facilitated the installation of solar energy systems in schools and hospitals across South Africa and Nigeria. With a pipeline of over 286 companies spanning mini-grids, commercial and industrial (C&I) projects, and electric vehicles, we are committed to scaling impactful solutions that improve access to clean and reliable energy in underserved communities.
In the photo below, Managing Director Dr. Sam Duby, explains our approach to funding DRE businesses in Africa during his acceptance speech at the 2024 Digital Energy Challenge Awards held in Brussels.
Receiving the Digital Energy Challenge award reinforces our strategy of integrating digital tools within the energy sector to promote efficiency and sustainability. We are grateful for the support of our partners and the broader energy community in achieving this milestone. The Future of Energy looks forward to contributing further to the digital transformation of Africa’s energy landscape, driving innovations that lead to tangible improvements in energy access and reliability.
For more information about the fund, contact sam@superpowerafricafund.com.
For more information about the Digital Energy Challenge, click here.
