WeLight Raises €27 Million to Expand Rural Solar Networks in Africa
WeLight has raised €27 million, with IFC joining its shareholder base to support the company's expansion. The funding will help finance new mini-grid projects in Nigeria and DR Congo while strengthening operations in Madagascar and Mali. The company aims to scale its rural electrification model across sub-Saharan Africa. WeLight, a. . .
WeLight has raised €27 million, with IFC joining its shareholder base to support the company's expansion. The funding will help finance new mini-grid projects in Nigeria and DR Congo while strengthening operations in Madagascar and Mali. The company aims to scale its rural electrification model across sub-Saharan Africa. WeLight, a company that develops solar-powered mini-grids for rural communities across sub-Saharan Africa, has raised €27 million in new funding to support its expansion. The companyannouncedon June 24 that the International Finance Corporation (IFC), the World Bank Group's private-sector arm, has joined its shareholder base as part of the fundraising round. WeLight did not disclose the size of IFC's stake. Expansion Into Nigeria and DR CongoIFC joins existing shareholders AXIAN, Sagemcom, and Norfund. The new capital will support WeLight's expansion into Nigeria and the Democratic Republic of the Congo while strengthening its operations in Madagascar and Mali. The company says it has already deployed nearly 190 solar mini-grids, providing electricity to more than 800,000 people each day. Its model combines solar power, battery storage, and local electricity distribution to serve rural communities beyond the reach of national power grids. "IFC's investment marks a major milestone for WeLight. It will help us build a pan-African platform covering the continent's main rural electrification markets and bring together leading partners to support large-scale expansion," CEO Romain de Villeneuve said. Targeting Africa's Largest Electricity GapsNigeria and DR Congo are among Africa's largest electricity markets and also have some of the world's biggest access gaps. According toTracking SDG 7: The Energy Progress Report 2026, 655 million people worldwide still lacked access to electricity in 2024, including 563 million in sub-Saharan Africa. Nigeria accounted for 87 million people without electricity, while DR Congo had 85 million. WeLight focuses on rural communities, where access remains particularly limited. The report estimates that 451 million people in rural sub-Saharan Africa still lived without electricity in 2024, more than in 2010. The company plans to deploy more than 1,000 mini-grids by 2030. Reaching that target will determine whether its model can evolve from a series of local projects into a large-scale solution for rural electrification across Africa. Abdoullah Diop