South African Off-grid Energy Startup Yellow Raises $725k For Expansion To Uganda, Malawi
Summary
However, Yellow, which sells pay-as-you-go solar-power devices to African households, almost shut its doors until a tech platform the founders designed helped save the business. • None This follows a €2-million loan the startup raised from Swedish crowdfunding platform Trine and a $1-million grant from USAID, both of which were concluded earlier this year. Back in Cape Town, and partly as a way to try run the business remotely, Heyink began building a web platform, dubbed Ofeefee. Read also: Africa ’s Future Franchise Owners Have A Lesson To Learn From Taste Holdings’ Sale of Starbucks and Domino’s Pizza In South Africa So far the startup has installed 7500 such devices in Malawi (against a serviceable market that he estimates to be two million) and aims to begin operating in Uganda (which he reckons has a serviceable market of about seven million customers) by January next year. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world