2030 Finance | November 28, 2018

Zimbabwe’s Zonful raises early funding for pay-as-you-go solar

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, November 28 – Harare-based Zonful has secured $300,000 from Paris-based energy impact investor Energy Access Ventures to scale its pay-as-you-go home solar systems.

Eighty percent of rural Zimbabweans lack electricity access. Zoneful has sold 10,000 of its systems. Its payment plans start at as little as $6 per month, compared to the roughly $14 that rural families spend monthly on lighting and phone charging.

“We believe that technology is neither revolutionary nor radical if it is not accessible to the poor, women, and young people,” Zonful states on its website.

Zonful’s investment from Energy Access Ventures is the second slug of capital the company has raised in the past four months, following a $300,000 investment from Persistent Energy Capital.