Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

Zonful secures backing from Persistent to extend off-grid solar in Zimbabwe

ImpactAlpha, August 1 – The Harare, Zimbabwe-based company sells pay-as-you-go solar home systems for the majority of Zimbabwe’s 15.6 million citizens who live off the grid. Three-quarters of the country’s 11 million rural citizens don’t have electricity and spend 25% of their income on kerosene and mobile phone charging.

Zonful has installed 5,000 systems in Zimbabwe since launching in 2014. The startup secured early implementation support though a local government partnership in the central Mhondoro-Ngezi district and financial support to the tune of $4 million from Kiva. It is looking to reach 25,000 customers by the end of the year.

Persistent has invested an undisclosed amount of capital in Zonful and will also provide technical assistance.

Persistent is a spinoff of non-profit impact lender E+Co., which ran into trouble with its loan portfolio and ultimately had to be restructured. Persistent was created in 2012 as a for-profit enterprise for E+Co.’s roughly $5 million Africa portfolio.

You might also like...