EnerGrow is an electrical equipment financing startup based in Uganda. We work with energy companies to help people buy appliances they wouldn’t normally be able to afford to increase their income.
Why? Hundreds of millions of people across Africa have expensive on-grid and off-grid electricity connections that are hardly used. Customers can afford electricity, but they can’t afford appliances to earn an income.
This situation is causing energy companies across Africa to be economically challenged while their customers are stuck in an unnecessary poverty trap. Energy companies are slow to expand into rural areas and cannot provide good service even in urban areas because so many customers use so little that energy companies often cannot afford to maintain their infrastructure.
EnerGrow provides loans to micro, small and medium enterprises (MSMEs) and households for plants or equipment valued between US$50 and US$5,000 over a period of between 6 months and 3 years.