UpOwa Cameroun SASU

Period

2020

Country

Cameroon

Sector

Renewable energy

Financial facility

ElectriFI

ElectriFI contracted a EUR 3 million debt loan to develop UpOwa expansion in Cameroon, via further sales and the diversification of product portfolio in the Center, West, Littoral, South, East and Adamawa regions. The company’s customer base is expected to grow over 50,000 active customers by 2022, meaning providing access to electricity to more than 250,000 people while creating 250 jobs.

Project overview

UpOwa is an off-grid energy company distributing solar home systems using pay-as-you-go technology and is the first mover and currently the leader in Cameroon. UpOwa operates a lease-to-own model where the buyer pays an upfront fee and then a monthly leasing fee based on an 18 to 24-month contract period.

Funding objective

EDFI ElectriFI supports UpOwa expansion in
Cameroon, via further sales and the diversification of product portfolio in the Center, West, Littoral, South, East and Adamawa regions.

Investment rationale

UpOwa plays a catalytic role in bringing solar PV solutions to rural population in Cameroon. UpOwa customer base is expected to grow over 50,000 active customers by 2022, meaning providing access to electricity to more than 250,000 people while creating 250 jobs.