SAWA ENERGY ON A MISSION TO BECOME EAST AFRICA’S LARGEST SOLAR POWER PRIVATE PROVIDER

 small and medium-sized enterprise (SME) across East Africa have been grappling with power challenges for decades. Sawa Energy with operations in Rwanda and Uganda is putting a halt to the issue of power small scale business owners face via offering integrated energy interventions at no cost, no operation and maintenance fees, and ensuring a seamless worry-free transition to greener and more affordable energy.

Sawa Energy gained the financial support of Renew Capital, an investment company that believes in Sawa Energy’s mission and goals. 

ABOUT SAWA ENERGY

For a renewable resource company established in 2021, its mission and goals are quite ambitious. Sawa Energy’s mission extends its tentacles beyond the horizons of providing power in that it focuses on creating, possessing  and operating solar systems for numerous consumers thus, ensuring significant money saving together with reducing electricity pricing fluctuations, as long-term outcomes. These outcomes, in no doubt, are in obvious alignment with the vision, mission, values, and objectives of the Eastern Africa Power Pool (EAPP). The primary aim of Sawa Energy is to become the largest private provider of solar power seeking to deploy 50 MW by 2030 while supporting 1,000 clients. 

Sawa Energy, founded by a group of tri-entrepreneurs, popularly known to be environmentally and socially conscious, consistently infuse notable experiences from solar, finance, and business into the existence of the innovation in Africa Samuel Kaufman, Chief Executive Officer (CEO) and co-founder of Sawa Energy firmly emphasized the company is passionate about building a business whose delivery is rooted in three strong pillars-building partnerships with East African companies; reducing emissions; and providing robust returns to the investors. Sawa Energy firmly believes in all their stakeholders benefiting from the already established sustainable model. Other team members of Sawa Energy excluding the Chief Executive Officer (CEO) who is an investor and operator comprise of ‘Jordan Zipkin’, an active entrepreneur and investor in climate tech; ‘Edwin Oloo’, an experienced professional in the Solar Industry for over 7 years; ‘Eder Munyampenda’, a seasoned engineer with design and project supervision experience across the Rwanda country; ‘Allan Okello’, a business development professional with backgrounds in Ugandan solar industry and tech-enabled travel sector; ‘Elsa Izere’, the only female team member is a seasoned investment professional with a focus on sustainable and climate investments within the African markets; ‘Sadiki Businge’, a natural-born entrepreneur with strong flare for technology and renewable energy; ‘Moses Munyui’, a business development specialist with 10 years experience in renewable energy; and ‘Guillaume Charpenel’, an active entrepreneur, investor and catalyst in the area of renewable energy in Ontario.

SAWA ENERGY’S STEPS FOR EFFECTIVENESS

In ensuring the business owners save, Sawa Energy highlighted three (3) steps for effectiveness. The First task is to ‘Schedule a call’. This provides them with insight into your energy needs as well as decipher if their service will be a good fit for you. Second on the list is the ‘On-site visit’ where an energy specialist is sent to your abode for the purpose of assessing the project’s viability and to determine suitable sites for the solar system. The finale involves ‘Getting a new electricity tariff plan’ with the sole aim of ensuring clients enjoy affordable, renewable energy for 35 years.

SAWA ENERGY’S PARTNERS

For effective functionality of the company’s vision and goals, Sawa Energy has partnered with numerous bodies ranging from engineering partners (like EAP, Equatorsolar and All in Trade) to funding partners (such as PricewaterhouseCoopers International Limited {PwC], Energy + Environmental Economics {E3}, Legalwise Chambers and Tugliq Energy) but of recent, Sawa Energy won the heart of a funding company evident by this statement ‘Sawa Energy’s approach to affordable and sustainable energy solutions is transformative for East African SME’ uttered by ‘Blessing Layee-Maima Caine’, the company’s investment manager for Rwanda. This newest funding company is none other than the famous Renew Capital. Sawa Energy has definitely hit the jackpot in securing this able and worthy partner capable of ensuring the 2030 goal of being the largest private provider of solar power is met all over East Africa. Renew Capital is proud to support Sawa Energy’s vision of a future where businesses can grow sustainably and cost-effectively. This support has further rooted the plans of Sawa Energy for small and medium-sized business owners in the whole of East Africa. Renew Capital believes in investing in Africa’s small and medium enterprises so as to develop its private sectors. 

To draw the curtain, in an overpopulated region like East Africa where hydropower is the preponderant source of electricity, the invention of solar power by Sawa Energy is one to be embraced by notable capable funding companies across East Africa for the improvement of the general public at large.

Edtech startup, AltSchool Africa, Expands Its Reach to Kenya in East Africa

Kenya will be AltSchool Africa’s second initiative in East Africa after Rwanda. AltSchool Africa is a Nigerian educational technology (edtech) firm and has officially announced its expansion into Kenya. In order to help Africans transition into global technology professions, the organization offers a wide range of in-demand tech courses. With the position of country manager, Tabitha Kayvu leads the Kenyan division.

Established in 2021, AltSchool has rapidly gained traction in the edtech landscape. Its financial foundation received a significant boost with a $3 million investment in May 2023, coupled with an additional $1 million in pre-seed funding earlier the same year. The success of AltSchool extends beyond Kenya, with a strong presence in the United States and Rwanda, attracting learners from an impressive 105 countries. The platform currently boasts over 60,000 learners hailing from more than 100 countries.

Adewale Yusuf, one of AltSchool's co-founders, envisions a future in which ten million Africans have the skills required to find meaningful work and contribute to the continent's economic progress. He ranks Kenya as AltSchool's second-largest market, after only Nigeria. The decision to expand operations to Kenya has been driven by the country's high enrolment numbers..

Head of Growth and Partnerships at AltSchool Nifemi Akinwamide said that the company is in continuous communication with Kenyan communities and organizations, stressing that the growth is in line with the company's goal of providing Africans worldwide with the necessary skills to take advantage of opportunities in technology. Akinwamide makes vague mention of intentions to open in additional African nations where AltSchool has had notable success.

AltSchool Africa, despite providing virtual education, places a strong emphasis on building offline communities and partnerships for its learners. This strategy, successfully implemented in Nigeria, will be replicated in Kenya. Akinwamide stresses that the start-up’s focus extends beyond ensuring students merely graduate; rather, the emphasis is on ensuring learners understand what employers seek before completing their training.

Initially, AltSchool Africa concentrated on offering one-year diploma courses in software engineering. Over time, the edtech start-up has diversified its offerings, introducing new courses covering data engineering, sales, fintech product management, and digital marketing. The platform is organized into five distinct schools: data, engineering, business, product, and creative economy. AltSchool Africa now features short courses on sales, content, and music creation. Yusuf affirms that these course offerings will be maintained in Kenya and will be conducted in English, with future plans to introduce courses in Swahili.

AltSchool Africa adopts a flexible pricing model ranging from $20 to $50 per month for the duration of its courses. Additionally, the platform embraces the income-sharing agreement (ISA) model, a popular approach in the edtech industry. Under this model, students agree to share a percentage of their future income in exchange for reduced upfront costs.

The pressing gap between Africa’s ten million job seekers and the three million employed underscores a significant skills mismatch. AltSchool Africa offers itself as a bridge, providing students with globally sought-after skills in business, analytics, engineering, media, and the creative economy. The platform's expansion into Kenya demonstrates its commitment to solving this crucial need at a larger scale. As AltSchool Africa expands its footprint, it plays a critical role in altering the educational environment and educating African students for the challenges and opportunities of the global technology-driven economy.

3 million USD raised by Kenyan eyewear startup, Lapaire to expand across Africa

The Kenyan eyewear startup, Lapaire, has successfully raised $3 million in financing to facilitate its expansion across the African continent. This significant investment round was led by Investisseurs & Partenaires (I&P), with noteworthy participation from AAIC, FINCA Ventures, and Beyond Capital. The injection of funds positions Lapaire strategically to advance its mission of providing accessible eye care solutions throughout Africa.

Following the successful completion of this financing round, Lapaire is poised to embark on an ambitious plan to open 300 eye care centres. An additional 80 locations are earmarked for establishment in 2024, creating a robust network of eye care facilities. This expansion initiative is not only a testament to Lapaire's commitment to enhancing eye care accessibility but also a substantial contributor to employment generation. The plan includes the creation of at least 250 jobs, encompassing roles such as eye specialists, branch managers, sales representatives, and various support positions.

Lapaire has already established its presence with 58 locations across six African nations: Ivory Coast, Togo, Benin, Mali, Burkina Faso, and Uganda. This existing network serves as a foundation for Lapaire's broader strategy, which focuses on consolidating its position in established areas like Ivory Coast, Togo, Mali, and Uganda. The subsequent phase involves expanding into additional African countries, demonstrating Lapaire's commitment to making eye care accessible on a pan-African scale.

Since its inception in 2018, Lapaire has been dedicated to addressing the neglected health sector of eye care in developing nations. In countries such as Kenya and across Africa, accessing eye treatment has been an expensive endeavour, leaving this critical aspect of healthcare underprioritized. Lapaire aims to change this narrative by positioning itself as Africa's premier eyewear brand, with plans to establish clinics initially in major cities and subsequently in rural areas.

The impact of Lapaire's efforts thus far is evident in its claim of providing over 300,000 free eye examinations to prospective clients and delivering eyeglasses to 180,000 individuals. The company identified two primary barriers to widespread spectacle wear among Africans: the prohibitive cost and a lack of awareness. Lapaire addressed the awareness issue by conducting free eye exams, ensuring that individuals were informed about their visual health. To tackle the cost challenge, Lapaire introduced a flexible payment option, allowing customers to pay for their glasses over time. This innovative approach includes a variable payment option, with customers required to pay only 30% of the total purchase amount upfront.

The Lapaire group, which comprises over 300 dedicated individuals, focuses on providing attractive and affordable spectacles to everyone. While eye specialists play a crucial role, a notable aspect is that 80% of the workforce comes from diverse professional sectors. Joséphine Amouroux, Head of Talents & Communications at the Lapaire Group, highlights that many candidates are surprised to discover the range of vocations available at Lapaire, beyond the traditional roles of Opticians and Salespeople. The company's structure encompasses Finance teams managing accounting, Marketing and Communications teams nurturing Lapaire's brand image, Supply Chain teams overseeing product sourcing and logistics, and HR teams driving workforce expansion and skill development through digital tools.

Recognizing the importance of openness and diversity, Lapaire places a strong emphasis on a hiring strategy based on gender equality. This commitment is reflected in the company's achievement of having 49% women in group positions and 32% women in managing roles. Lapaire strives to foster a meritocracy-based, safe work environment, where women can thrive and men contribute positively to closing the gender gap.

Jerome Lapaire, founder and CEO of Lapaire, expresses the company's readiness to accelerate expansion and positively impact the lives of one million people throughout the continent by 2026. Approximately 35% of Africans experience visual problems that can be addressed with eyeglasses. However, the cost of obtaining a pair of glasses remains a barrier for many. In the rapidly expanding digital health sector in Africa, vision care emerges as a viable niche, fueled by increased insurance coverage and a younger demographic driving demand.

Lapaire's vision extends beyond eyewear retail; it aspires to become Africa’s go-to eyewear brand, making clear vision accessible to all. The company's strategic plan to establish eye care centres reflects its commitment to addressing the prevalent visual problems in Africa. By expanding its reach into major cities and eventually rural areas, Lapaire aims to provide high-quality eyeglasses at reasonable prices, empowering individuals to lead fuller lives with clear vision.

In conclusion, Lapaire's recent funding success positions it at the forefront of the eyewear sector in Africa. The investment not only fuels expansion but also contributes to job creation and reinforces Lapaire's commitment to making eye care accessible across the continent. As Lapaire continues to innovate and expand its reach, it plays a pivotal role in shaping the landscape of eye care in Africa.

Undisclosed amount of funding from Rand Merchant Bank (RMB) received by "KOKO" a Kenya-based climate-tech company

Rand Merchant Bank (RMB), a distinguished African corporate and investment bank, has taken a commendable stride in its commitment to advancing green energy and forest conservation across Africa. This commitment extends beyond sponsorship, as RMB has made a direct investment in the climate tech start-up, KOKO, as part of its broader carbon business growth project. This strategic move aligns seamlessly with RMB's dedication to propelling sustainable energy solutions on the continent.

KOKO, an innovative impact-investing start-up, is at the forefront of environmental consciousness, aiming to redefine cooking solutions in Africa. The core mission of the company is to introduce greener and more contemporary cooking alternatives, and this mission has received substantial support through RMB's recent investment.

CEO and co-founder of KOKO, Greg Murray, expresses the belief that RMB's investment showcases a profound commitment to leveraging carbon for the improvement of lives in Africa. This partnership is deemed crucial in driving the expansion of KOKO's platform across the continent.

Phil Norton, Carbon Finance Lead at RMB, takes pride in the collaboration with KOKO, emphasizing the shared goal of fostering rapid growth while providing affordable and low-emission energy to millions in Africa. This joint venture seamlessly aligns with RMB's broader objective of establishing a market-leading carbon trading and finance company to serve clients throughout Africa.

This strategic collaboration with KOKO closely aligns with The Nairobi Declaration, a recently unveiled strategic approach in Africa that leverages carbon to finance the continent's energy transition and nurtures the development of the African carbon market. Nigel Beck, Head of Sustainable Finance and ESG Advisory at RMB, emphasizes the significance of adhering to this strategic declaration.

The Nairobi Declaration, a pivotal element of Africa's negotiating posture at COP28 Dubai, plays a crucial role in steering the continent towards a sustainable energy transition. Rand Merchant Bank's support comes at a crucial juncture when carbon trading is gaining global momentum, and Africa stands to benefit from financing, which promotes long-term growth.

Charcoal remains a dominant fuel for cooking in urban Africa, as highlighted by the U.N. Food and Agriculture Organization (FAO). With over 900 million Africans relying on harmful fuels like charcoal, resulting in massive deforestation, indoor air pollution, and substantial greenhouse gas emissions, KOKO's mission takes on heightened importance. The transition to contemporary, clean fuels becomes imperative for the entire continent.

KOKO, with its pioneering approach, aims to replace unhealthy solid fuels across the continent with its renewable fuel dispenser. The start-up advocates for liquid bioethanol cooking fuel as a quick, safe, and cost-effective alternative to polluting cooking fuels like charcoal. The deployment of distribution, dispensing, and end-use technologies ensures that customers can access clean fuel at more affordable rates than polluting fuels.

KOKO operates a micro-distribution network of fuel ATMs, providing liquid bioethanol cooking fuel to informal communities. Customers, using smart canisters, can conveniently obtain KOKO Fuel from a widespread network of 2,500 advanced KOKO Fuel ATMs situated in convenience stores throughout urban Kenya. The fuel is used in modern 2-burner cookers, producing a clean blue flame akin to cooking with gas. This renewable bioethanol cooking fuel is derived from sugar molasses. The coordination of payments, fuel distribution, and data is efficiently managed by KOKO Cloud, ensuring safety, quality, and excellent customer service.

Crucially, KOKO's reduction of carbon emissions aligns with global compliance and voluntary carbon markets. Revenues generated from the sale of high-quality carbon credits are shared with Kenyan households, serving as a non-government energy subsidy that makes the solution affordable even for the most impoverished individuals. This innovative approach is instrumental in driving KOKO's mission to create a positive impact on both the environment and the lives of the people it serves.

KOKO proudly claims to have served 1.1 million Kenyan households with bioethanol, and its pay-as-you-go fuel strategy aims to reduce dependency on polluting solid fuels. As a technology company founded in 2014, KOKO continues to expand its reach, currently serving approximately one million households across eight cities in Kenya. Supported by a robust regulatory framework and backing from the Government of Kenya, KOKO's bioethanol cooking fuel utility represents a transformative solution in service of the Kenyan people.

In 2021, KOKO received prestigious recognition as the world’s leading emerging markets climate technology solution by FT / IFC Transformational Business Awards. Additionally, being acknowledged as a "Lighthouse" project by the African Carbon Markets Initiative underscores the integrity of KOKO's business model.

KOKO's impact extends beyond its utility operations, directly employing 2,000 staff and supporting the incomes of an additional 15,000 Kenyan families involved in the bioethanol supply chain. The collaboration between KOKO and Rand Merchant Bank exemplifies a broader shift towards environmentally conscious solutions in Africa. This partnership not only supports KOKO's mission to revolutionize cooking solutions but also signifies a shared commitment to sustainable energy transition and forest conservation on the global stage.

Rand Merchant Bank's investment in KOKO serves as a testament to the potential impact when financial institutions join hands with innovative start-ups in driving positive change. Kenya, through initiatives like these, solidifies its position as a leader advocating for a shift to green energy on the global stage.

From Local to Global: Tripesa's Visionary Approach to Digitizing Africa's Tourism

In the heart of East Africa's burgeoning tech scene, Tripesa, a game-changer in the tourism industry, emerged in 2021 with a mission to transform the digital landscape for small tourism businesses across Uganda and Kenya. With a dedicated team of 17 members, Tripesa is flipping the script for micro, small, and medium-sized enterprises (MSMEs) by providing a customisable, no-code platform to build and manage online commercial presence.

Aimed at empowering the underrepresented players in Africa's tourism game - the local tour guides, car-hire services, and souvenir sellers - Tripesa's platform, priced at an affordable $180 per year, acts as a springboard into the digital space. This platform, reminiscent of Shopify but tailored specifically for the tourism sector, allows these businesses to establish an e-commerce-enabled website without needing intricate technical know-how.

At the helm of this revolution is David Gonahasa, a visionary behind some of Africa's pioneering tourism-booking marketplaces, leading Tripesa alongside tech-savvy co-founders Thomas Karugaba and Raymond Byaruhanga. Their combined expertise in fintech and tech development injects Tripesa with a potent blend of industry insight and technical prowess.

Leveraging their user base of over 400 and a revenue model tapping into subscriptions, payments, and lead generation, Tripesa isn't just about profits; they're actively collaborating with governments and partners to drive mass digitalization initiatives.

In a laissez-faire economy where giants rule, Tripesa stands as a beacon of hope, aiming to democratise technology for Africa's tourism sector. As they pave the way for a more interconnected and prosperous future for small tourism enterprises, Tripesa's journey exemplifies a commitment to levelling the playing field and embracing digital empowerment in East Africa's vibrant tourism tapestry.