Interview with HERi Madagascar promotersSubmitted by Admin on Tue, 04/25/2023 - 15:42
Created in 2012, and supported by I&P since last year through the I&P Afrique Entrepreneurs 2 (IPAE2) fund, HERi Madagascar is a company that specializes in the distribution and financing of solar energy solutions in rural areas of Madagascar.
Socially committed company, HERi acts on the sustainable economic and social development of rural populations in Madagascar by distributing innovative products and services through a network of energy kiosks managed by women entrepreneurs.
I&P spoke with the promoters of the company: Samy CHALIER and Ando RANDRIAMALAHARISON, respectively CEO and Deputy General Manager of HERi Madagascar.
Can you briefly introduce HERi Madagascar?
The company HERi was founded in Madagascar in 2012, we have celebrated 10 years of activity last year, and specializes in the distribution and financing of lamps and solar kits for low-income populations, who do not have access to electricity.
We currently have three main activities: the rental of solar lamps via a network of solar energy kiosks, the distribution of solar products via a partnership with microfinance institutions. And finally the distribution of solar kits in Pay-As-You-Go via our network of door-to-door sales agents.
How is the partnership with I&P going?
In a few words I would say Financing, technical assistance and above all strategic partnership.
I&P's financing allows us to finance our growth, to invest in our activities both in human resources since the company is growing, we need to professionalize the team, to hire new people, ... to finance our Pay-As-You-Go activity since Pay-As-You-Go is a rather particular activity where we finance our customers, which obliges us to advance a lot of money while waiting for the customers to have paid the product.
Looking back on your career today, what are you most proud of?
When we took over HERi in 2017, it was a company that wasn't doing very well. We did a total restructuring, which took almost two years. And we developed new activities that today represent more than 80% of the company's turnover.
We were able to put together a business plan for the next few years that allowed us to raise funds with I&P, which means that the work we have done over the last five years has paid off. We still have many challenges to face in the future and we are proud to have I&P on our side to support us in this development.
What are your ambitions for Héri in the coming years?
First, there is the development of HERi Madagascar, the company itself, which should result in a geographical expansion and the diversification of products that we can offer to low-income populations, always remaining of course in innovative solutions and impact also for a country like Madagascar where 80% of the population lives in poverty.
The objective is to distribute more than 100,000 solar products each year in Madagascar to reach a turnover of 10 million euros by 2025. The second objective is to be recognized as an example of a company in the sector both by its environmental and social performance and by its financial results.
Key figures to date
- HERi has set up 80 solar kiosks in different rural communities in Madagascar;
- 34 of the 80 kiosks deployed are managed by women;
- In 2022, HERi has leased approximately 30,000 solar lamps;
- and distributed 15,000 solar kits in Pay-As-You-Go.
Launched in 2017, I&P Afrique Entrepreneurs 2 (IPAE 2) pursues the impact mission of the I&P Group and promotes the emergence of a new generation of responsible African entrepreneurs. The investment approach remains generalist, while targeting sectors that contribute to the achievement of the Sustainable Development Goals (SDGs): agribusiness, health, construction, renewable energy, microfinance, industry, B2B products and services.