Expanding Access to Finance for Energy Enterprises: EnDev Partners with Kiva
As part of its ongoing commitment to bridging the financing gap for clean energy companies, Energising Development (EnDev) is expanding its innovative approach: the Energy Access SME Finance Facilitator. In partnership with Kiva, a financial inclusion nonprofit organisation, EnDev aims to mobilise finance for early-stage enterprises working in off-grid solar and clean cooking. Through this collaboration, Kiva will provide tailored financial solutions to support small and medium-sized enterprises (SMEs) in the energy access sector across EnDev’s portfolio in sub-Saharan Africa.
Addressing the Financing Gap in Energy Access
Achieving Sustainable Development Goal 7 (SDG7: affordable and clean energy) by 2030 requires urgent action to accelerate funding for electricity and clean cooking solutions. EnDev recognises that access to finance remains a critical barrier for SMEs operating in the energy access sector. Many enterprises face difficulties securing financing due to limited track records, a lack of collateral, and perceived high-risk profiles among investors and lenders.
Partnering with Kiva: Crowdfunding for Clean Energy Enterprises
To address this, EnDev launched the Energy Access SME Finance Facilitator. As part of this initiative, EnDev partners with Kiva, a global nonprofit that expands financial access to underserved communities through crowdfunding and microloans.By supporting Kiva through the Energy Access SME Finance Facilitator, EnDev strengthens its mission to empower energy access SMEs, ensuring they receive the financial support needed to grow their businesses and scale their impact. This partnership aims to improve financial inclusion and create opportunities for social enterprises.
The instrument explores diverse and innovative financing solutions to increase access to capital. Kiva leverages the power of crowdfunding to provide risk-tolerant, flexible loans, offering crucial support to early-stage enterprises that traditional financial institutions overlook. With EnDev and Kiva working together, this initiative is set to drive further growth and innovation in the clean energy sector.
Strengthening Financial Ecosystems
Under the SME Finance Facilitator, EnDev continues to explore cooperation with global and national financial institutions, including banks, savings and credit cooperative organisations, crowdfunding platforms, and specialist financial intermediaries. EnDev supports these financial partners through grants as well as training and advisory services, enhancing their capacity to finance energy access SMEs effectively. By strengthening local financial ecosystems, this approach ensures that more businesses can access the resources they need to prosper.
Get Involved
Are you a small or medium-sized energy access enterprise looking for funding under the Energy Access SME Finance Facilitator?
Check out Kiva’s website and fill out their application here.
