Climate and Nature Action: Building low-carbon and climate-resilient and nature-positive economies, including through sustainable infrastructure
Gender Equality: Mainstreaming gender equality in investment activities to support women’s economic empowerment, gender equality, and improve business performance
Market Development: Developing markets to support quality job creation, capital markets, and access to finance as well as products and services that raise living standards and add value to the economy
2X Challenge: The 2X Challenge is an initiative that seeks to support businesses that provide women in emerging economies with access to leadership opportunities, quality employment, and products and services that enhance their economic participation and inclusion
Technical Assistance Facility: Targeted grant support to private sector clients that, directly or indirectly, improves their development outcomes, addresses gaps in knowledge or tools and seeks to support the business environments in the countries, regions, or sectors in which we operate
Contributing to greater access to clean energy in the Democratic Republic of Congo
About EEGF
The Energy Entrepreneurs Growth Fund (EEGF) is a unique fund created in 2019 by Shell Foundation and the Dutch Development Bank, FMO, to make a critical contribution to the access to the energy sector whilst addressing climate change. Managed by Triple Jump, EEGF provides tailored mezzanine, equity, and debt investments combined with technical assistance to early and growth-stage companies in the access to energy ecosystem in Sub-Saharan Africa.
FinDev Canada and its blended finance facility, 2X Canada, are investing in EEGF to contribute to greater access to clean energy in Africa. EEGF is FinDev Canada’s first 2X Canada transaction, a blended finance facility implemented by FinDev Canada and funded by the Government of Canada. 2X Canada aims to enhance the resilience and socioeconomic well-being of low-income, underserved and marginalized populations, particularly women and girls, in the Caribbean and Sub-Saharan Africa.
FinDev Canada’s financial commitment: $8M
About Altech
Altech, a portfolio company of Energy Entrepreneurs Growth Fund (EEGF), is a PAYG solar company leading off-grid energy development in the Democratic Republic of Congo. Their mission is to expand access to clean, reliable, renewable and affordable energy for off- and poor-grid households, since only 19% of the population has access to electricity1. Altech aims to impact the lives of over 5 million people through the sale of 1 million products while building Africa’s largest and most reliable distribution network for clean energy solutions (lanterns, solar home systems, solar generators and cookstoves).
“Altech has a distribution goal of reaching 1 million households across the DRC by 2025.”
EEGF’s Impact
Our investment in EEGF supports the following SDGs:
Achieve gender equality and empower all women and girls
Ensure access to affordable, reliable, sustainable and modern energy
Promote inclusive and sustainable economic growth, employment and decent work for all
Take urgent action to combat climate change and its impacts
Goma, Democratic Republic of Congo
As the largest country in Africa with a population of 99 million people1, the Democratic Republic of Congo has experienced sustained GDP growth since 20202 and is supported by the mining, agriculture, fishing, and forestry industries.
Moses Sawasawa
Moses Sawasawa is a Congolese photojournalist whose motivation stems from a realization that the camera can be a powerful tool for social change. He has grown up in an environment of wars that are impossible to photograph, so he has used his art to show people’s daily lives in his home country. His photography has been published by The Guardian, El Pais, BBC, Jeune Afrique, Libé, France 24, TV5World, and RFI, among others. In 2020, he contributed to the book (including the cover photograph) “Congo En Conversation” which chronicles social, political, and economic life in Democratic Republic of Congo, as told by Congolese photographers.
Investor One
