Our investment is helping off-grid solar companies reach 34 million people in sub-Saharan Africa
Around 600 million people in sub-Saharan Africa live without access to electricity, and many are concentrated in its least-developed economies. These are markets where electrification rates can be as low as 12 per cent, where commercial investors rarely venture, and where off-grid solar companies struggle to access the working capital they need to grow.
In 2025, we committed £14.8 million to H2R Amplify, the debt-focused vehicle within Acumen’s Hardest-to-Reach initiative. The fund provides impact-linked loans and receivables financing to off-grid solar companies operating across 16 of sub-Saharan Africa’s most underserved countries, helping them manage working capital as they scale into markets that traditional investors overlook.
One company supported through an earlier vehicle in Acumen’s Hardest-to-Reach initiative is Yellow Malawi. The company helps low-income rural customers in Malawi, Rwanda, Uganda, Zambia and Madagascar buy solar home systems and smartphones through affordable financing. Rather than paying upfront, customers pay in instalments, making clean energy and connectivity accessible to people who would otherwise go without. These are the kinds of businesses H2R Amplify is designed to support as it scales.
H2R Amplify expects to reach 34 million people, including 26 million who are gaining energy access for the first time. It expects to displace enough polluting fuel to mitigate 2.3 million tonnes of carbon emissions. The fund is also 2X Challenge-qualified, reflecting a commitment to expanding economic opportunities for women as both customers and employees in the off-grid solar sector.
