Providing Finance to Access African Markets: New Business Approaches in the Solar Energy Industry

Africa is often referred to as the continent of opportunities. To capture these opportunities, smart business models are needed. Doing business in the African solar energy industry requires not only convincing clients to switch to green energy but also solving the finance gap for small and medium-sized energy projects. If coupled with creative financing strategies, solar-as-a-service business models, in which a solution provider offers a fully financed solar system to a client and the client pays a monthly fee, can be the game changer. Next to innovating business models, the factors of success include establishing a local presence in the market, living a business culture of entrepreneurship, and obtaining a thorough understanding of customers. Without these, opportunities remain untapped and do not lead to thriving businesses.