Sector: Sustainable Energy
Boma Model: Equity / Debt
Stage: Early Stage Impact
In Uganda there is over 29 million people who have no access to the national grid and resort to kerosene and other fossil fuels for lightng
Village Energy provides access to a range of solar products for both home and busines as well as solar maintainance, servicing, and training. Village Energy is boosting access, affordability, and trust in solar energy
by building a solar technician and retail shop network to fix and sell solar products in rural Uganda. They recruit and train young men and women as technicians and entrepreneurs, setting them up as franchisees with their own branded repair & sales shop. These shops are supplemented by a network of phone-charging micro-entrepreneurs equipped with Village Energy-branded Pay-As-You-Go systems who can act as brand ambassadors and commission-based sales agents in even more remote areas.
Boma invested in Village Energy in 2010, at the start of the company. Boma’s initial investment was for 10K which was at its maturity rolled into equity. Boma then provided a second loan of 10K in 2013. Boma has extend the loan terms for this second loan multiple times as Village Energy has pivoted its business model to meet the changing needs of its customers. Boma recognizes that we can have a greater long term impact in the rural communities of Uganda by leaving the investment in play than having the loan repaid “on time”.
Abu Musuuza, Co-Founder & CEO: A native Ugandan and former Ashoka East Africa program manager, Abu co-founded Village Energy in 2010. Originally focused on manufacturing and distributing solar systems, he pivoted to this new model in late 2014, for which he has been selected as an Ashoka fellow and Echoing Green fellow. Abu is an Acumen East Africa and Unreasonable Institute alumnus, and a graduate of Makerere University.
Jay Patel, Co-Founder & President: Jay joined Village Energy after five years at Google on the Small & Medium Business team. He has extensive experience in sales, marketing and operations, and plays a leading role in partnerships, fundraising, and business model development. Jay is a graduate of the University of Pennsylvania.