Energise Africa Launches Bond to Support Altech’s Solar Expansion in the DRC

Energise Africa has launched a new bond offer to support Altech Group SARL, a solar solutions provider in the Democratic Republic of Congo. This initiative will finance the rollout of solar home systems and lanterns, addressing the country’s severe energy deficit and expanding access to clean electricity for off-grid families. Altech aims to impact 50 million people in the DRC by 2030, as an estimated 79% of its 111 million people lack access to electricity.

The bond offer seeks to raise 650.000 USD (£500,000), with a minimum investment of £50 and no maximum limit. The bond has a 36-month maturity and offers an expected interest rate of 8% per annum, with interest and capital repayments scheduled every six months. The investment is secured through a promissory note or interest-bearing bond.

Through this financing, Altech will expand its solar home systems and lantern distribution, targeting households with no or unreliable electricity access. Its Pay-As-You-Go model allows customers to make a small down payment and pay in flexible installments, making solar energy more affordable for lower-income families. The company also operates in conflict zones and refugee camps, ensuring access to clean energy even in the most challenging environments.

Altech’s solar home systems have already shown significant benefits, with 36% of households generating additional income, 85% engaging in more economic activities, and 64% reporting improved study conditions for children. Twice as many women as men report increased financial well-being and leisure time due to improved access to electricity.

Energise Africa has chosen to support Altech based on its financial stability and successful repayment of a previous £2.5 million loan. The company’s founders, Washikala Malango and Yonghwa Mashangao, have built a sustainable business with deep local knowledge, reinforced by a network of 3,000 employees and product ambassadors ensuring broad distribution.

Energise Africa CEO Ray Coyle highlighted the significance of the bond offer, stating that it provides UK investors with an opportunity to contribute to sustainable development and energy access in the DRC. However, he also noted that the investment is classified as high-risk, and investors should only commit funds they can afford to lose.