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About Us
EnerGrow is a tech start-up growing sustainable, productive, rural electricity demand in Africa, through an innovative mix of productive asset financing, training and digital ID based technology.
How We Do It?
- Create a digital profile for all customers
Collate data from disparate sources and use bespoke algorithm to create credit scores
Create new customers for banks without the bank incurring any risk
Provide financial services and productive asset financing
Provide rural customers with low interest rates on financing
Offer business in a box, and financial literacy training to customers
Our Mission
EnerGrow's mission is to revolutionise Africa's rural communities by financing customers to unlock local productivity and increase energy demand.
Our Vision
EnerGrow’s vision is for universal access to energy in sub-Saharan Africa to be demand driven by productive energy uses, providing sustainable, economic and social benefits for households and businesses.
Our Strategy
EnerGrow improves the profitablility of electricity distribution companies by financing consumer assets that increase energy consumption, ability to pay, and economic output.
The Problem
- Newly electrified communities in Africa do not have access to income generating or livelihood improving electrical appliances that would make them economically viable to energy providers
- This means that communities rarely exploit productive energy and, consequently, energy access initiatives are seldom bankable
Services
EnerGrow provides productive energy asset financing and training to small businesses in Uganda.
Asset Financing
Loan Product
EnerGrow provides loans to micro, small and medium businesses (MSMEs) and households for assets or appliances valued between $50 and $5,000, over a period between 6 months and 3 years.
Credit Score
EnerGrow uses new data sources and automated credit scoring to reduce its credit risk and scale its solution across regions quickly.
Training
Experienced Teachers
EnerGrow’s team has provided training to more than 4,000 small businesses in Uganda, surveyed thousands of customers and has more than 25 years combined experience delivering projects in East Africa.
Business In A Box
EnerGrow offers business in a box, and financial literacy training to customers.
Our Team
EnerGrow was founded in January 2018 by Riccardo Ridolfi and Nataliey Bitature.