NEWS

WeLight, a rural electrification company focused on mini-grid development in Sub-Saharan Africa, has announced that the International Finance Corporation (IFC), part of the World Bank Group, has joined its shareholding alongside existing investors AXIAN, Sagemcom, and Norfund.

The €27 million capital raise is expected to accelerate WeLight’s expansion across the continent, enabling entry into Nigeria and the Democratic Republic of Congo (DRC), while strengthening its existing operations in Madagascar and Mali. The company aims to establish a multi-country platform targeting some of the largest unelectrified populations in the region.

Founded in 2018, WeLight has deployed nearly 190 solar-powered mini-grids, providing electricity access to more than 800,000 people daily. Its model integrates solar energy, battery storage, and local distribution networks to deliver power to remote communities beyond the reach of national grids.

With IFC joining its shareholder base, the company plans to scale its operations significantly, targeting the deployment of over 1,000 mini-grids and improving access to electricity for nearly 10 million people by 2030.

IFC’s investment aligns with the World Bank Group and African Development Bank-led Mission 300 initiative, which aims to expand electricity access across Africa and support job creation through energy infrastructure development.

Romain de Villeneuve, Chief Executive Officer of WeLight, said the partnership marks a major milestone in building a pan-African platform for large-scale mini-grid deployment and expanding access to reliable electricity across rural communities.

Fatoumata Sissoko-Sy, IFC’s Regional Industry Manager for Infrastructure in West Africa, said the investment will help mobilize private capital, scale electrification solutions, and support inclusive economic growth through improved energy access.