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Khaleej Times
3 days ago
- Business
- Khaleej Times
'We sleep much better': Why Zayed Sustainability Prize winner lit up remote Africa
Spending the first five years of her life in the turmoil of Lebanon's civil war in the early 1980s, Angela Homsi remembers a world without electricity and basic luxuries. That memory shaped her mission to bring clean, sustainable energy to underserved communities, especially in Africa. Now, over four decades later, Homsi is leading Ignite Power, a renewable energy company she co-founded, from a new global headquarters in Abu Dhabi. 'We cannot be more excited by this latest development,' Homsi, winner of the 2024 Zayed Sustainability Prize in the Energy category, told Khaleej Times. 'There's no nation out there in the world more aligned with what we want to do and achieve with our impacts than the UAE.' Ignite Power provides solar-powered electricity and internet to some of Africa's most remote communities. The company currently operates in 15 countries and is aiming to reach 100 million people over the next five years. 'We're on a very high growth path, and the UAE is really at the centre of 2.5 to 3 billion people. It's a very strategic location for logistics, economic power, and influence.' Lighting up lives The impact of Ignite's work is far-reaching. In rural Rwanda, the arrival of solar home systems has transformed daily life for families. 'Now, with the lights, we sleep much better,' said Mukande Qwe, a mother of three in Gisagara. 'We used to sleep with the cows before because it wasn't safe to leave them outside due to the many thefts after dark. Now, thanks to the light, we keep them outside, and everybody has more room to sleep comfortably.' Beneficiaries across the country echoed similar stories of transformation. Nakabonye Daforosa, a 70-year-old resident of Rulindo, said: 'My granddaughter is able to do her homework after dark and is getting higher grades. The radio helps me stay updated… the solar torch allows me to walk outside after dark.' Odetta Musabyimana, 58, lives alone in Gisagara. 'I feel much safer with the lights on… I also save 100 francs a month since I don't have to buy petrol anymore. I have time to make mattresses, giving them to neighbours and friends who cannot afford to buy one.' Other households have seen a boost in agricultural output and income. 'Before we had light, we sold 20kg of beans and 30kg of maize, and now we are selling 40kg of beans and 60kg of maize,' said Tasiana Irikunze, a mother of two from Kabunjwiri village. 'When we didn't have light, we lost crops due to rotting. Now we have more time to process them.' Solar-powered irrigation has also made a difference. 'We used to sell 200kg, and now it is 500kg,' said Mukamparaye Jeanne from Kivomo. 'Before, we used a generator and petrol to fuel it, 5L per day… extremely expensive and not even half as beneficial.' For Nsabimana Deogen, a farmer and mother in Rulindo, the benefits are personal and financial. 'With proper light, I can cook clean food, and my family's health has gotten much better for it. The light has given my children time to study and do their homework, their grades are rising, and they have much higher motivation to succeed.' Homsi, now 44, was born in Lebanon in 1980 and moved to Cairo at age five. She later lived in Europe and pursued a career in investment, working with Goldman Sachs and Generation Investment Management, the sustainability fund chaired by former US Vice President Al Gore. 'I always wanted to make an impact on the wider continent,' she said. 'To do something that will change the direction of Africa and the Middle East.' Ignite began not as a company, but as a white paper. 'Most countries in Africa only had around 20 per cent of their population with access to electricity,' Homsi explained. 'Eighty percent were using kerosene lamps, damaging to health, education, and economic development.' The first project was launched in Rwanda after Homsi and her team presented a vision to the country's president. 'We supported writing a proper socio-economic feasibility study on how Rwanda could become the first fully connected country in Africa.' Growth through Abu Dhabi Since receiving the Zayed Sustainability Prize, Homsi said Ignite has grown eightfold. 'That's huge. Above and beyond our own expectation,' she said. The award helped raise visibility and credibility. 'We've always had our head on the ground, making sure every single dollar goes to the deepest possible impact." "The prize helped us tell our story.' One of the company's most promising initiatives is the solar-plus-internet deployment in schools. 'We deployed the first 30 schools right after the prize,' she said. 'That pilot is now shaping the way for the next 10,000 schools in multiple countries.' Homsi believes Abu Dhabi offers the infrastructure and values to support the firm's ambitious growth. 'We've already incorporated in the UAE, finalised office spaces, and started hiring. The office will host our senior management, R&D, business development, procurement, and public affairs roles — functions that cover multi-country operations.' She also plans to deepen ties with UAE universities. 'I dedicate a large amount of my time to education, advocacy, teaching… we need more youth to be inspired, to take over the flame, and carry on the mission.' For Homsi, impact and scale go hand in hand. 'You cannot scale the amount of people you will impact… if you cannot scale your business. It has to be a strong business that attracts top talent and achieves deep, lasting change,' she concluded.
Forbes
22-04-2025
- Business
- Forbes
How Startups Are Bringing Affordable, Clean Energy To Africa
An Ignite Energy Access solar power installation in Rwanda. Bringing electricity, let alone that from renewable sources, to some of the most energy poor parts of sub-Saharan Africa is a vexing question and daunting ask for many. But for Yariv Cohen and Angela Homsi, co-founders of Ignite Energy Access, it happens to be a business mission that they've proven to be pretty good at. The duo came together in 2014 to establish their company that brings clean, sustainable energy access to underserved communities in Africa, armed with a splendidly simple yet efficient idea. One that's predicated on the continent's most readily available power generation resource - sunlight. Their company's commercial model is based on promoting off-grid solar power systems designed for domestic use for individual households, schools and small shops, often in remote rural ares. In industry jargon, that's an approach banking on distributed renewable energy or 'DRE' solutions. 'When embarking on our journey, we were convinced deep down that our distributed modular approach would work in parts of Africa where the grid hasn't reached and there's a readily available resource – the sun. And it did,' Cohen said in an interview. Aiming big but starting small back in 2014, Ignite Energy Access, then known as Ignite Power, first established a foothold in Rwanda. Homes in the country could sign up to a 'pay-as-you-go' plan to electrify their home, farm, small business, social project or institution via digital payment plans. After 24 months the users would own the solar panels and equipment. 'In the digital age, we were on our way toward effectively proving that distributed energy is not just a retail business but has the potential to completely change how we have discussions on national level electrification in countries,' Homsi noted. Within four years of its founding, Ignite had expanded to Mozambique. 'We perfected our model one country, and then another, and on to the next, unconstrained by some of the factors legacy operators would have to consider,' said Cohen. A dramatic drop in the cost of solar panels and batteries along with the increasing adoption of mobile payment systems were vital tools for expansion. So much so, that what started as an initial offering of a plan starting at $4 a month is currently down to less than a dollar. By 2024, the company's operating footprint had spread to nine African countries where it currently serves over 600,000 households in 23,000 villages and counting. Such growth came off the back of hard won organic growth as well as strategic acquisitions, the co-founders noted. In January, Ignite agreed to acquire French utility company Engie's Africa-focused off-grid solar energy unit - Engie Energy Access - in a deal that will double its footprint in Africa. The tie-up is on the path toward creating Africa's largest provider of the full range of DRE services with a combined coverage of 14 African nations and more than 15 million serviceable customers. The combined entity Ignite Energy Access - the name by which company is now known as - will have more than 50 MW of deployed capacity. Cohen said: 'The move will help us achieve our vision of providing sustainable, affordable energy solutions to 100 million people by 2030, and doing so profitably." Homsi added: 'Having built critical mass and proven our credentials like we did, our philosophy has always been that if you can't scale up your business, you can't scale up your impact. This is our fourth acquisition in two years aimed at business acceleration.' While the valuation of the Engie deal was not revealed, Ignite is getting bigger and has attracted what Cohen and Homsi describe as the right kind of 'patient long-term oriented capital investment.' Ignite has also branched out into solar powered irrigation systems and is working on clean cooking solutions to wean rural parts of Africa off burning firewood or charcoal to cook meals. This has not gone unnoticed. The co-founders identified the potential of distributed solar solutions long before it became a trend and channeled it for societal impact. It brought Ignite an accolade in 2023 on the sidelines of COP28 summit in Dubai that changed how the energy and finance community viewed them - the Zayed Sustainability Prize. UAE President Sheikh Mohamed bin Zayed Al Nahyan (left) presents the Zayed Sustainability Prize 2023 ... More in the energy category to Ignite Energy Access co-founder Angela Homsi. Dr. Steve Griffiths, vice chancellor for research, American University of Sharjah, and a Zayed Sustainability Prize Selection Committee member, noted that Ignite did way more than just tick the right boxes to bag the prize. 'The value of an energy company is much more than just its technology and hardware. Both need to serve a broader purpose. Innovation, impact and inspiration are the three pieces we look at. Ignite exceeded the Zayed Sustainability Prize Selection Committee's expectations on all three counts, having nearly a decade of operations under its belt and proven its mettle via a viable and attractive pay-as-you go business model in some of the most energy poor parts of the world.' Giving his thoughts on receiving the prize, Cohen said: 'The main value of the prize is not just recognition but legitimacy. The first few years were hard for us as a business. But since we bagged the prize, we got more credibility when it came to having meaningful dialogs with a range of third parties from the World Bank to the European Commission. Simply put it opened a lot of doors." The company recently received strategic support from the Abu Dhabi Investment Office, and has established its global headquarters in the United Arab Emirates. 'We have 300 professionals and manage around 50,000 agents across Africa. Alongside our headquarters in Abu Dhabi is a finance team in London. Core business is delivered on the ground and that is very much African, with plans for expansion to South Asia in 2026. We are at a scale where the top investment houses in the world are interested in us,' Cohen said. Homsi added: 'And we are highly de-risked with a proven model and growth prospects. And in that we offer a risk-adjusted profile that is truly appealing to a lot of investors on the equity side as well as on debt.' With accolades and solid backers aplenty, Cohen and Homsi's firm appears well positioned to offer both sustainability and profitability to investors. Climate financiers seeking a combination of both in the energy transition era may see much to their liking too.
Forbes
22-04-2025
- Business
- Forbes
How One Firm's Idea Is Bringing Affordable Clean Energy To Africa
Bringing electricity, let alone that from renewable sources, to some of the most energy poor parts of sub-Saharan Africa is a vexing question and daunting ask for many. But for Yariv Cohen and Angela Homsi, co-founders of Ignite Energy Access, it happens to a business mission that they've proven to be pretty good at. The duo came together in 2014 to establish their company that brings clean, sustainable energy access to underserved communities in Africa, armed with a splendidly simple yet efficient idea predicated on the continent's most readily available power generation resource - sunlight. Their company's commercial model is based on promoting off-grid solar power systems designed for domestic use for individual households, schools and small shops, often in remote rural ares. In industry jargon, that's an approach banking on distributed renewable energy or 'DRE' solutions. 'When embarking on our journey, we were convinced deep down that our distributed modular approach would work in parts of Africa where the grid hasn't reached and there's a readily available resource – the sun. And it did,' Cohen told your correspondent in an interview. Aiming big but starting small, Ignite Energy Access, then known as Ignite Power, first established a foothold in Rwanda. Homes in the country could sign up to a 'pay-as-you-go' plan to electrify their home, farm, small business, social project or institution via digital payment plans. After 24 months, users would own the solar panels and equipment. A dramatic drop in the cost of solar panels and batteries along with the increasing adoption of mobile payment systems were vital tools for expansion. What started as an initial offering of plan starting at $4 a month is now down to less than a dollar. 'In the digital age, we were on our way toward effectively proving that distributed energy is not just a retail business but has the potential to completely change how we have discussions on national level electrification in countries,' Homsi noted. Within four years of its founding, Ignite had expanded to Mozambique. 'We perfected our model one country, and then another, and on to the next, unconstrained by some of the factors legacy operators would have to consider,' said Cohen. By 2024, the company's operating footprint had spread to nine African countries where it currently serves over 600,000 households in 23,000 villages and counting. Such growth came off the back of hard won organic growth as well as strategic acquisitions, the co-founders noted. In January, Ignite agreed to acquire French utility company Engie's Africa-focused off-grid solar energy unit - Engie Energy Access - in a deal that would double its footprint in Africa. The tie-up is on the path toward creating Africa's largest provider of the full range of DRE services with a combined coverage of 14 African nations and more than 15 million serviceable customers. The combined entity Ignite Energy Access - the name by which company is now known as - will have more than 50 MW of deployed capacity. Cohen said: 'The move will help us achieve our vision of providing sustainable, affordable energy solutions to 100 million people by 2030, and doing so profitably." Homsi added: 'Having built critical mass and proven our credentials, like we did, our philosophy has always been that if you can't scale your business, you can't scale your impact. This is our fourth acquisition in two years aimed at business acceleration.' While the valuation of the Engie deal was not revealed, Ignite is getting bigger and has attracted what Cohen and Homsi describe as the right kind of 'patient long-term oriented capital investment.' Ignite has also branched out into solar powered irrigation systems and is working on clean cooking solutions to wean rural parts of Africa off burning firewood or charcoal to cook meals. This has not gone unnoticed. The co-founders identified the potential of distributed solar solutions long before it became a trend and channeled it for societal impact. It brought them an accolade in 2023 on the sidelines of COP28 summit in Dubai that changed how the energy and finance community viewed them - the Zayed Sustainability Prize. Dr. Steve Griffiths, vice chancellor for research, American University of Sharjah, and a Zayed Sustainability Prize Selection Committee member, noted Ignite did way more than just tick the right boxes to bag the prize. 'The value of an energy company is much more than just its technology and hardware. Both need to serve a broader purpose. Innovation, impact and inspiration are the three pieces we look at. Ignite exceeded the Zayed Sustainability Prize Selection Committee's expectations on all three counts, having nearly a decade of operations under its belt and proven its mettle via a viable and attractive pay-as-you go business model in some of the most energy poor parts of the world.' Giving his thoughts on the prize, Cohen said: 'The main value of the prize is not just recognition but legitimacy. The first few years were hard for us as a business. But since we bagged the prize, we got more credibility when it came to having meaningful dialogs with a range of third parties from the World Bank to the European Commission. Simply put it opened a lot of doors." The company recently received strategic support from the Abu Dhabi Investment Office, and has established its global headquarters in the United Arab Emirates. 'We have 300 professionals and manage around 50,000 agents across Africa. Alongside our headquarters in Abu Dhabi is a finance team in London. Core business is delivered on the ground and that is very much African, with plans for expansion to South Asia in 2026. We are at a scale where the top investment houses in the world are interested in us,' Cohen said. Homsi added: 'And we are highly de-risked with a proven model and growth prospects. And in that we offer a risk-adjusted profile that is truly appealing to a lot of investors on the equity side as well as on debt.' With accolades and solid backers under their belt, Cohen and Homsi's firm appears well positioned to offer both sustainability and profitability to investors. Climate financiers seeking a combination of both in the energy transition era may see much to their liking too.
Bloomberg
28-03-2025
- Business
- Bloomberg
The Mission to Electrify Africa Might Finally Be Under Way
Plunging solar panel prices and international funding are now spurring the rollout of so-called mini grids that can transform rural communities By Antony Sguazzin and Taonga Mitimingi Photography by Zinyange Auntony for Bloomberg When strips of solar panels arrived in his remote village in northeast Zambia, Damaseke Mwale saw an opportunity. He bought land, built a house and set up businesses including a grocery store and a hall to charge people to watch football matches. 'From there, that's where my life changed,' Mwale, 41, said as he sat in his living room next door to his small store. Even his children's school grades improved because they were able to study at night, he said. Mwale is one of the early beneficiaries of a technology that promises to electrify a continent that's home to more than 80% of the world's 680 million people who live without power. Called mini-grids, they generate electricity for small communities that aren't on national supply networks — and the economics suggest their time may finally have come. Plunging solar panel prices, more business-friendly regulation by African governments and international funding are now spurring a rapid rollout from Nigeria to Madagascar. In January, the World Bank launched a program to get power to 300 million Africans by 2030, a project that could attract $85 billion or more of investment. 'We're in the inflection point,' said Yariv Cohen, co-founder and chief executive officer of Ignite Power. The Abu Dhabi-based company is acquiring the African mini-grid business of French utility Engie SA, which provides power to Mwale. 'We've never had $30 billion allocated for energy access in Africa. We never even had $1 billion.' It's hard to know exactly how many units currently exist. Manoj Sinha, CEO of Husk Power Systems, the world's biggest operator of solar mini-grids, reckons Africa could eventually see 200,000 of them. Cohen is more conservative, given there are only hundreds at the moment, he said. Key to the success of the World Bank initiative, called Mission 300, is the buy in from governments when it comes to tariffs and fostering private investment, and there are cautionary tales that have deterred investors in the past. There's also the current political climate. President Donald Trump's administration in the US, which is the World Bank's biggest shareholder, is slashing development aid and has expressed disdain for renewable energy. But the potential impact is clear, as is the incentive for richer countries to make sure the finance is there, according to World Bank President Ajay Banga. Access to electricity in the sub-Saharan region ranges from 1% of the population of South Sudan to 94% in South Africa. Improving the average is key to development on the world's poorest continent, which in turn is in the national interest of the Western world, Banga said. 'What this does is it develops jobs and industries and productive, consuming individuals in these countries,' Banga said in an interview in Dar es Salaam, Tanzania. 'If it reduces illegal migration, if it keeps people happy in their countries, if it creates marketplaces for your products and your intellectual property and your technology, there's nothing wrong with that.' About 30 heads of state and governments attended the January conference and a dozen nations presented detailed plans as to how to achieve universal access to electricity. The Democratic Republic of Congo, with $35 billion, and Nigeria, with $27 billion, presented the biggest proposals for investment. In Zambia, Mwale's village of Chitandika in the Chipangali district got its mini-grid in 2019. The country has since embarked on a plan to bring power to 1,000 rural communities over the next few years, up from 45 now. The program is supported by the Rockefeller Foundation, the European Union, the UN and the Beyond the Grid Fund for Africa, whose donors include Australia, Germany and Sweden. It has an initial target of installing at least 200 more by the end of next year. Zambia Plans to Bring Power to 1,000 Rural Communities The village of Chitandika now has a solar-powered mini-grid The Chipangali area has turned into a hive of activity thanks to the arrival of the solar panels, from a brightly lit barber shop to schools being able to provide more IT support for kids without having to use expensive petrol-fueled generators. One headteacher, Tryson Banda, said the whole environment has changed, with better lighting and more appliances. His school has gone from having six teachers to 28 because it's a more attractive place to work. Simon Makowani, a local mechanic, is able to offer welding rather than having to take customers elsewhere in the province. It means if someone just wants to weld an oxcart, they can now do it in the village. 'Before the grid, I was just doing mechanics,' he said. 'I started welding and it has helped me a lot in terms of earning my revenue.' With a stable power supply, this school in Chipangali is sending more kids to university while headmaster Tryson Banda says more teachers want to come and work there. Simon Makowani's workshop runs from the mini-grid in Chitandika. The mechanic is able to offer welding rather than having to take customers elsewhere. Zambia has embarked on a plan to bring off-grid power to 1,000 rural communities over the next few years. Getting electricity to rural areas is also about meeting basic needs, like providing a veranda LED light for studying. To access funds, countries need to commit to running competitive tenders, charging high enough tariffs to make state utilities sustainable and promising to using the lowest cost electricity — almost always renewable power. Nigeria is being held up as an example of the kind of investment that favorable regulations can bring. At least 7 million people gained access to more reliable electricity in the last few years with the help of World Bank finance, with commercial mini-grid operators often selling power to both local communities and the erratic national grid. 'If a country doesn't own it, and it isn't the country's plan, there's nothing much you can do from the outside because politics is local,' said Rachel Kyte, the UK's special representative for climate. 'It's the first foundational piece. Here's the minister of finance standing up and saying here's my plan to close the energy access gap in my country.' Still, companies may need more incentives, said Sarah Malm, the executive director of Gogla, a global association for the off-grid solar energy industry that says it has 200 members providing power, services and equipment to 560 million people. Those could include exemptions on import duties for solar products, credit guarantees and subsidies or grants to help the almost 50% of potential beneficiaries who will struggle to pay for electricity, she said. Indeed, for the World Bank to meet its target of connecting 300 million people, someone is going to have to help the new consumers pay their bills, according to Daniel Schnitzer. He runs SparkMeter, which operates smart metering and grid-management services in African countries including Somalia. 'There's a pretty widespread recognition of the need for some kind of subsidized financing,' he said. 'There's a lot of hope that Mission 300 will unlock those sorts of mechanisms.' A woman uses a solar panel to charge her mobile while walking through Chitandika. Africa is home to more than 80% of the world's 680 million people who live without power. A small store in Nyimba Mwana is powered by a solar panel. Key to Mission 300 is to get buy-in from governments as well as companies. When the sun sets in Nyimba Mwana, villagers now have more access to light. In Chitandika, that also means entertainment. The mini-grid powers the local night club. Investors got stung in the past. In 2015, Husk began investing in Tanzania and built a number of facilities. Then the country's energy minister decided that all electricity tariffs, irrespective of the technology being used or the scale of the facilities, should be the same, more than halving what Husk could charge. 'There was a policy that made us enter and then with a flick of a pen tariffs were the same for everybody,' said Sinha, who is also Husk's co-founder. 'That was why we packed our bags,' he said. The company left in 2022. Three years later, Husk is expanding in Nigeria and has about 80 mini-grids in the country. It's also considering expanding in Congo and mulling acquisitions of mini-grid companies or their assets in Benin and Madagascar. The World Bank's International Finance Corp. in 2022 estimated that by 2030 half a billion people worldwide could get their power from mini-grids. Many of those would be in Africa. Mission 300 'might probably be overly ambitious given the time frame but it sends the right signal,' said Philippe Valahu, CEO of Private Infrastructure Development Group, which is funded by seven wealthy nations and has invested across Africa and Asia. Programs in some countries have effectively served as pilots for Mission 300 and have shown speedy progress. In Malawi, access to electricity has almost doubled to 27% since 2023, largely driven by the World Bank-backed Ngwee Ngwee Ngwee fund, which finances initiatives to get electricity to people who are off the national grid. Ngwee means bright in Chichewa, a local language. 'I can't think of anything more important than electricity,' said Akinwumi Adesina, president of the African Development Bank, which is providing billions of dollars in funding alongside the World Bank. The continent has the world's lowest electrification rate, and 'that is not a gold medal I want Africa to have.' Editor: Rodney Jefferson Photo Editor & Production: Jody Megson More On Bloomberg
