About Us
EnerGrow is a tech start-up growing sustainable, productive, rural electricity demand in Africa, through an innovative mix of productive asset financing, training and digital ID based technology.
How We Do It?
Create a digital profile for all customers
Collate data from disparate sources and use bespoke algorithm to create credit scores
Create new customers for banks without the bank incurring any risk
Provide financial services and productive asset financing
Provide rural customers with low interest rates on financing
Offer business in a box, and financial literacy training to customers
Partners
Our Mission
EnerGrow's mission is to revolutionise Africa's rural communities by financing customers to unlock local productivity and increase energy demand.
Our Vision
EnerGrow’s vision is for universal access to energy in sub-Saharan Africa to be demand driven by productive energy uses, providing sustainable, economic and social benefits for households and businesses.
Our Strategy
EnerGrow improves the profitablility of electricity distribution companies by financing consumer assets that increase energy consumption, ability to pay, and economic output.
The Problem
- Newly electrified communities in Africa do not have access to income generating or livelihood improving electrical appliances that would make them economically viable to energy providers
- This means that communities rarely exploit productive energy and, consequently, energy access initiatives are seldom bankable
The Solution
Partnering with utilities and minigrid operators, EnerGrow’s platform uses existing data to identify entrepreneurs that require business asset financing and selects for eligibility through data-driven credit profiling.
EnerGrow provides a catalogue (initially 5-6 assets*) of comprehensive “business-in-a-box” solutions to customers at the cheapest possible rate, including:
- An energy-utilising productive asset
- Working capital (where needed)
- Financial literacy & business training
Initial catalogue caters to tailoring, carpentry, welding, retail shops and restaurants.
EnerGrow's Market
- 10% of Ugandans started a new business in the last year
- Each year an additional 4,000,000 businesses are started - without support, nearly all fail
- 86% of businesses surveyed want additional productive energy appliances
- 7.3m households in Uganda
- 95% would save money with an electric pressure cooker
By 2030 there will be 130,000,000 businesses across Africa that are potential customers
Services
EnerGrow provides productive energy asset financing and training to small businesses in Uganda.
Asset Financing
Loan Product
EnerGrow provides loans to micro, small and medium businesses (MSMEs) and households for assets or appliances valued between $50 and $5,000, over a period between 6 months and 3 years.
Credit Score
EnerGrow uses new data sources and automated credit scoring to reduce its credit risk and scale its solution across regions quickly.
Training
Experienced Teachers
EnerGrow’s team has provided training to more than 4,000 small businesses in Uganda, surveyed thousands of customers and has more than 25 years combined experience delivering projects in East Africa.
Business In A Box
EnerGrow offers business in a box, and financial literacy training to customers.
Why EnerGrow
EnerGrow offers appliance financing and training to help your business grow and make you more money.
Flexible payment options, no security needed
Affordable, high quality machines
Increase your sales and reduce costs
Learn skills to grow your business quickly
We have:
50+ Businesses Signed Up
We have:
200+ On the waiting list
Deployed USD:
200,000in 2020
Products
New products added all the time! Let us know what you’d like to see here!
- All
- Carpentry
- Metalwork
- Restaurant/Retail
- Tailoring
Our Team
EnerGrow was founded in January 2018 by Riccardo Ridolfi and Nataliey Bitature.
Aaron Leopold
CEO
Riccardo Ridolfi
Co-Founder & Director for Strategy and Partnerships
Claire Ayuro
Project Manager - EPCs
Angus Marjoribanks
COO
Tom Nangosyah
Project Manager
Charles Murorwa
Head of Product DevelopmentGallery
F.A.Q
Frequently Asked Questions
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Can I get more than one appliance?
Yes you can. Some appliances can be combined into a larger loan at the customer’s request. To find out more, please contact EnerGrow.
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What happens if I can’t afford the prices?
Get in touch with EnerGrow. In some cases, we can extend the duration of the loan and reduce the monthly cost. The quicker you are able to pay the loan back, the less you will pay overall.
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Can I pay more per month?
Yes! We can reduce the duration of the loan if you are able to pay more each month.
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What happens if I think I might miss a payment?
You should contact EnerGrow BEFORE the payment is due. In some instances we might allow you to make a payment a few days late. If you miss a payment without telling us first this won’t be possible and you will be charged a penalty fee.
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Can I pay in installments each month?
Yes you can. As long as you pay the total amount owed each month, you can pay in one big amount, or several smaller amounts - whichever is easiest for you.
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How do I make the payments?
Either through Mobile Money or Agent Banking - we have accounts with MTN, Stanbic and Centenary.
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Can I return the appliance?
Yes you can. If the appliance isn’t working as well as you’d hoped you can return it and stop paying the loan.
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What happens if the appliance breaks?
If the appliance stops working whilst being used properly it will be covered by a guarantee. The length of the guarantee is different for each product, but will always cover the appliance for at least the length of the loan.
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Will you add other appliances in the future?
Yes! If there’s a different appliance you’d like to get from EnerGrow let us know and we’ll do our best to add it to the catalogue.
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Will I receive training?
Yes you will - this is a compulsory part of the appliance loan. You will be trained in accounting, entrepreneurship and on how to use your new appliance.
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Why are you working with Umeme?
Umeme is interested in how appliances can help businesses connected to the grid grow - we are working together to find the best way to help small businesses.