Altech, a Congolese company founded in 2013 by two former refugees, is committed to combating energy poverty in the DRC, where an estimated 79% of the population lacks electricity access. Co-founders Washikala Malango and Iongwa Mashangao, driven by their personal experience of living without power, aim to positively impact 50 million people in the DRC by 2030. Their remarkable journey, from a Tanzanian refugee camp to leading a thriving social enterprise, underscores their deep understanding of the community and the market.
"I know firsthand what it is like to live without light and power," says Washikala Malongo, Co-Founder & Co-CEO of Altech. "These experiences are the source of my motivation to help improve daily life in Congo."
Energise Africa has chosen to offer an investment opportunity in Altech through this bond offer due to several key factors:
A proven track record
Altech has successfully repaid a previous £2.5 million loan on the Energise Africa platform, demonstrating their financial stability and ability to navigate challenging circumstances, including previous conflicts. Past performance is not an indicator of future success.
Impact-driven leadership
Altech founders' personal commitment and deep understanding of the DRC context, coupled with consistent profitability and reinvestment of profits, position Altech for continued success.
A critical need for action
The DRC's low energy access rates, coupled with political instability and the current conflict, make solar home systems the ideal solution. Altech’s 3,000 employees and product ambassadors ensure reach even in remote and rural areas.
Resilience in conflict
Despite the ongoing conflict in eastern DRC, Altech has already proactively relocated operations to ensure the safety of its staff and maintain its commitment to providing essential energy access.
The bond offer allows UK investors to directly support families living without electricity in one of the world's most challenging environments. Investments start at £50 and target an 8% return, potentially tax-free within Energise Africa’s Innovative Finance ISA (IFISA). Every £2,000 invested enables Altech to provide solar home systems to five families and supply 47 solar lanterns, transforming lives and boosting economic and educational opportunities.
Solar home systems have a demonstrable positive impact, with studies showing increased household income, enhanced economic activity, improved educational outcomes for children, and significant benefits for women's financial well-being and leisure time.
"This bond offer presents a unique opportunity for UK investors to make a tangible difference in the lives of families in the DRC," says Ray Coyle, CEO of Energise Africa "By supporting Altech, we can empower communities, foster sustainable development, and bring light to those living in the dark. Investors should note that investments such as this are classed as high risk and you are unlikely to be protected if something goes wrong, therefore you shouldn’t invest any money you can’t afford to lose.”
Amina's Story
Amina, a mother residing in Goma, Democratic Republic of Congo, utilises the S800 and M600 solar lights to illuminate her home, enabling her family to carry out essential activities in the evenings. She appreciates that her children can do homework after dark without paying energy bills. According to Amina, using solar energy has obvious financial benefits, along with the reliability it’s given them, She highlights the peace of mind found in the safety that comes with no longer using candles.
Amina also points out that many families would not be able to afford the systems in the first place without the Altech payment program. With this, access for so many more Congolese is possible because "the progressive payments make it easier for us financially," adding that "it’s life-saving for low-income households, which are not able to pay large amounts spontaneously.".The Altech solar kits allow them "to do tasks more easily, especially while cooking, eating with the family, doing homework with the children, or listening to our favourite shows on the radio,” and the children find the “eco-friendly light is easy to use”.
Daniel's Story
Daniel owns a bar in Goma, Democratic Republic of Congo, a gathering place for football fans. He switched to an Altech solar system in 2021, which allowed him to remain open during power outages. "For my business, I can easily use my TV kit for game nights without worrying about power cuts in my bar. It is a really practical, clean and safe light," he says.
Daniel also appreciates the safety and mobility of not being tied to an energy company, which is important in an area prone to natural disasters or conflict. “For people like us, living in areas where a volcano can erupt at any time, having a solar kit like this one is a safe bet. If a war or an eruption arises, we can move around and install it where we take refuge,” he says. He no longer has expenses related to energy, fuel, and battery flashlights because "solar energy is an inexpensive answer to electricity needs."
Daniel hopes solar technology spreads in his country and appreciates that using Altech means supporting fellow Congolese entrepreneurs who created the company because “only a local company can see the real needs of the people and the various difficulties they face to provide practical solutions.”
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong.
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About Energise Africa:
Energise Africa is a UK-based impact investing platform connecting investors with high-impact solar energy projects in sub-Saharan Africa. They provide access to clean, affordable energy for communities living without electricity while offering investors the opportunity to generate positive social and environmental returns alongside potential financial returns.
About Altech:
Altech is a Congolese solar solutions company founded in 2013 by two former refugees. They are dedicated to combating energy poverty in the DRC by providing affordable and reliable solar home systems and solar lanterns to off-grid communities.
Contact:
Melissa Gilmour
Energise Africa
melissa.gilmour@ethex.org.uk
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