Understanding what level of energy access is required for people in the varying economies and regions of Africa is part of the challenge for investors, as it will determine whether a project is bankable or not.
There is no better way to bring this into perspective than engaging people who have both experience and knowhow about the matter. Thus, bringing Akon in to the event will shed light about “Access to Energy” in Africa.
The American-born Senegalese has a firsthand experience about growing up in Africa where access to electricity is limited.
The multi-platinum recording artist with “Konvict Music” and his partners Samba Bathily and Thione Niang started an initiative ‘Akon Lighting Africa’ which was launched by Solektra International in 2014.
Commenting about the importance of having Solektra International to introduce the initiative to delegates attending the Powering Africa: Summit next week, Simon Gosling, Managing Director of EnergyNet, said; "It’s very clear that this initiative could provide a blueprint for others, therefore I’m delighted to announce that Solektra International cofounders, Akon, Samba Bathily and Thione Niang, will introduce their successful initiative Akon Lighting Africa at this month’s Powering Africa: Summit from 27-29 January in Washington, D.C."
Commenting on the success of the initiative, Gosling, said”: "Having researched Akon Lighting Africa and spoken to nearly 50 highly experienced investors, EnergyNet has reached the following conclusions:
1. Most importantly - community engagement has played a pivotal role in the success and roll out of the business.
2. Delivering energy to a large number of citizens is paramount – volume will drive the business case (like an online business model where volume of traffic eventually delivers financial success). This is the reason why Akon Lighting Africa has focused on rural areas – where most of the African population is based.
3. Akon Lighting Africa has placed access to basic energy, such as solar lanterns to increase education, at its heart - education builds inspiration and inspiration builds economies and increases consumer spending power.
4. Lastly, but hugely important also - the initiative is an exceptionally well run business with clear and simple objectives and a very innovative pre-financing model.”
Image Credit: David Monfort-dangency.fr