African solar startups are solving a serious problem, namely the continent’s major lack of power. Combine this with the evolution of innovative business models, and you have a sector that is proving seriously popular with investors.
Solar was the most popular sector for investment in African tech in 2015, according to Disrupt Africa’s African Tech Startups Funding Report, with East African companies M-KOPA Solar and Off Grid Electric leading the charge.
That popularity has remained the case this year, if to a slightly lesser extent, with PEG Ghana among those to have raised sizeable funding. There are a number of reasons why this is the case.