Jiro-Ve announces a new impact investment to triple access to renewable energy in MadagascarSubmitted by Admin on Thu, 03/11/2021 - 16:46
Jiro-Ve, a pioneering company in rural electrification in Madagascar, is completing its last funding round. Besides Miarakap and I&P (through its program I&P Acceleration Technologies), Jiro-Ve has received the backing of the international humanitarian agency Catholic Relief Services.
The loan from CRS will help the company expand production, create jobs for young entrepreneurs, and provide energy to even more people in hard-to-reach areas through CRS’ vast grassroots network.
In Madagascar, only about 20% of people have access to electricity. Most rural families use candles and kerosene lamps, which can be expensive for low-income earners, harmful to the environment and negatively affect people’s health.
Jiro Ve uses a franchise-based operating model, whereby young entrepreneurs partner with the company to grow their business by renting solar lights and power banks. Currently, Jiro Ve provides energy to 65,000 people in 11 regions and intend to grow this number to more than 230,000 by 2023.
"Renewable energy is the answer for millions of rural families with no access to electricity, especially the most vulnerable which are often most difficult to reach. Our investors and partners share our vision to deliver positive impact on the planet, its people and communities.”
Rik Stamhuis, Jiro-Ve Managing Director & Co-founder
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Photo Credit: © Heidi Yanulis Photography