The company, backed by a group part-owned by billionaire Patrice Motsepe’s African Rainbow Capital Investments, raised $1.4 million for a solar panel and battery storage project at a Zimbabwean fruit and berry producer, in what it says is the biggest crowdfunded project in Africa.
The approach allows individuals to make a contribution to reducing climate-warming emissions with relatively small investments while still receiving a competitive rate of return. It also helps fill a chronic electricity shortage in the region.We fill a funding gap for businesses and schools and retirement homes to get solar power at no cost to themselves,” said Abraham Cambridge, co-founder and CEO of Sun Exchange. We are really now looking to expand into agriculture.
Its other projects include solar power for schools and retirement homes in South Africa and six Spar supermarkets. Funds are currently being raised for 332KW of panels and 640 kilowatt hours of battery storage at a broccoli and saffron farm in the Karoo.
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