Dutch impact investor Oikocredit recently channeled USD 2 million to RDG Collective, a provider of renewable energy products to households in Zambia. Through this collaboration, RDG plans to supply 12,000 households with “access to clean energy and a path to ownership of off-grid solar products.”
Oikocredit Investment Officer Siebren Wilschut said, “…we’re proud to partner with such an impactful enterprise, and to support it in achieving even more by helping low-income people become healthier, improve their livelihoods and be better connected.”
Established in 2018, RDG Collective works to supply off-grid homes with solar products such as refrigerators, phones and water pumps on a pay-as-you-go payment system. During 2022, the organization raised USD 4 million and supplied 14,000 Zambians with solar products.
Based in Amersfoort, Netherlands and founded in 1975, Oikocredit has partners in 33 countries in Africa, Asia and Latin America, working toward “empowering low-income people to improve their livelihoods.” It provides “loans, equity investments and capacity building” in sectors such as agriculture, renewable energy technology and financial inclusion with the goal of expanding employment opportunities and creating financially resilient communities. During 2022, Oikocredit disbursed investments totaling EUR 400 million (USD 430 million), and its outstanding capital as of June 2023 is EUR 900 million (USD 980 million).
By Hawra Moochhala, Research Associate
Sources and Additional Resources
Oikocredit press release
https://www.oikocredit.coop/k/en/n2613/news/view/368005/9049/oikocredit-invests-us-2-million-in-rdg-collective-to-support-solar-energy-growth-in-africa.html
RDG Collective homepage
https://rdg-home.com/
RDG Annual Letter (2022)
https://rdg-home.com/blog/f/rdg-annual-letter—2022
Oikocredit homepage
https://www.oikocredit.coop/
Oikocredit Annual Report (2022)
https://www.oikocredit.coop/en/publications/annual-reports
Previous MicroCapital stories on Oikocredit
https://www.microcapital.org/?s=oikocredit
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