Zola Electric (formerly Off-Grid Electric)

East Africa,Africa Infrastructure

Off-Grid Electric designs, manufactures, deploys, finances and serves solar home systems on a fee-for-service business model in Tanzania and Rwanda. The company operates as a vertically integrated distributed utility, leasing solar home systems (SHS) to rural and peri-urban households. OGE customers pre-pay their energy via mobile money.

We are invested in Zola Electric (formerly Off-Grid Electric) through Energy Access Ventures Fund, which is managed by Aster Capital Partners. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, East Africa
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Infrastructure
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Energy Access Ventures Fund
Fund Manager:
Aster Capital Partners
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
November 2015
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Cayman Islands