The International Finance Corporation (IFC), a member of the World Bank Group, has invested in WeLight through a 27 million euro capital raise to support the expansion of rural electrification projects across Sub-Saharan Africa. The new funding is expected to help the company accelerate the development of clean energy infrastructure and increase access to electricity in remote communities that are still without reliable power.
The investment round also includes WeLight’s existing shareholders, AXIAN, Sagemcom, and Norfund. Together, the partners aim to strengthen the company’s ability to deliver renewable energy solutions to underserved regions. The financial support will allow WeLight to expand its operations into two major African markets, Nigeria and the Democratic Republic of Congo (DRC), while also increasing its presence in Madagascar and Mali, where it already operates.
The planned expansion comes at a time when many African countries are working to improve electricity access in rural areas. Nigeria and the DRC have been identified as priority markets because of their large populations and significant electricity access gaps. Both countries are also part of Mission 300, a joint initiative of the World Bank Group and the African Development Bank that aims to increase electricity access for millions of people across Africa.
Established in 2018, WeLight has become one of Africa’s leading developers of solar-powered mini-grids. The company has installed nearly 190 mini-grids that currently provide electricity to more than 800,000 people living in remote locations. These systems combine solar photovoltaic technology, battery energy storage, and local electricity distribution networks to supply reliable power in areas that are not connected to national grids.
Access to dependable electricity has brought several benefits to the communities served by these mini-grids. Reliable power supports healthcare facilities, improves educational opportunities, enhances public safety, and creates better conditions for local businesses to grow. It also helps reduce dependence on diesel generators and other expensive, polluting energy sources.
With the fresh investment, WeLight has announced an ambitious plan to deploy more than 1,000 mini-grids by 2030. Through this expansion, the company aims to provide clean and reliable electricity to nearly 10 million people across the continent.
Company officials described the IFC’s investment as an important step toward building a stronger pan-African rural electrification platform. The IFC also believes the expansion will create employment opportunities during the construction and operation of the mini-grids. In addition, improved electricity access is expected to encourage new business activities, support local economic development, attract further private investment, and contribute to long-term sustainable growth across Sub-Saharan Africa.
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