Through a mixture of debt and grants, Altech Group has raised USD 18mn to facilitate its growth in the DRC. The solar company will use the additional funding to open over 30 new sales outlets in rural areas and distribute 180,000 solar products.
Debt financing was provided by the Energy Entrepreneurs Growth Fund (EEGF), Triple Jump and Rabobank (EUR 5mn), with additional support from Social Investment Managers & Advisors (SIMA Funds), Kiva, Whole Planet Foundation, EquityBCDC and SIDI (Solidarité Internationale pour le Développement et l’Investissement).
Creating Hope in Conflict: a Humanitarian Grand Challenge and ANSER RDC provided the grants.
About Altech Group
Since 2013, the company has created a sales and distribution network that has culminated in the sale of over 350,000 solar energy projects. Today it has 4,5000 employers and sales agents who cover more than 140 in 22 of the 26 provinces in the DRC.
The company was co-founded by Wahikala Malango.