Over 1.2 billion people in Sub-Saharan Africa and Asia lack electricity. Though kerosene is the most often used alternative, off-grid solar is regarded as cleaner, safer, brighter, more reliable, and ultimately cheaper. Social Investment Managers & Advisors (SIMA) is working to fill this need for bottom-of-the-pyramid beneficiaries with its Fund One that will make loans to companies in the off-grid solar energy and financial access sectors in these severely underserved areas.
Off-grid solar power allows children to study longer at night, provides power for entrepreneurial activities, and improves the health of local populations by lessening smoke intake. Given the high demand for off-grid solar energy, SIMA’s fund will have high impact in a short period of time by offering early stage growth debt capital to solar companies and organizations that work with microfinance institutions. Partners for the Common Good’s $400,000 investment will allow SIMA to improve the lives of individuals and communities at the very bottom of the global pyramid.