The Uganda Off-Grid Energy Market Accelerator (UOMA) recently released a report examining the demand-side barriers to financing for off-grid solar businesses.
Though it is well recognised that off-grid solar will play a major role in closing Uganda’s current electrification gap, a significant funding shortfall threatens the country’s efforts. It has been estimated that annual investments of ~$95 million USD over the next few years is required to close the gap. In 2019, 62% of the population remained unelectrified.
The latest research identifies the complex processes and plummeting investments impacting the percentage of successful exits and new equity investors in the off-grid solar sector and represents a needful call to action to industry stakeholders to collaborate and address these demand-side barriers.
UOMA is a neutral intermediary focused on accelerating the growth of off-grid energy access in Uganda to enable universal energy access.
SF co-created UOMA in 2017 in partnership with USAID, Power Africa and the UK Government, to be implemented by Open Capital Advisors, a management consultancy headquartered in Nairobi, Kenya with extensive experience of working with enterprises in the off-grid sector and building markets.