ZAMBIA: Oikocredit opens a $2M credit line for RDG solar systems
Dutch investor Oikocredit opens a $2 million credit line for RDG Collective. The funding will support the distribution of solar photovoltaic systems for electricity access in Zambia.
Oikocredit is once again financing access to electricity in Africa. In Zambia, the Dutch financial institution opens a $2 million credit line for RDG Collective. The company, based in the capital Lusaka, provides solar photovoltaic systems for the electrification of rural households and for productive use of electricity.
With the support of Oikocredit, RDG plans to provide access to electricity to at least 12,500 “low-income” Zambians. “Access to renewable electricity and productive energy-using devices will enable households to improve their standard of living, increase their earning potential and live with greater dignity,” says Oikocredit .
Since its inception in 2018, RDG has already sold more than 20,000 energy devices, helping to improve the lives of more than 100,000 people through access to clean energy and providing more than 300 people with economic opportunities by employing them as agents. “Oikocredit's experience and support will help RDG expand the distribution of life-changing productive energy devices,” says Rune Dige, founder and CEO of RDG Collective.
Among the devices dedicated to the productive use of electricity, there are irrigation systems powered by solar energy for agriculture or even solar refrigerators for food preservation in businesses. This equipment contributes to increasing the rate of access to electricity in Zambia. In this East African country, 2.4 million households do not yet have access to electricity according to official figures.
