Fund Manager
partnered with


Baobab+ was established in 2015 and operates in the areas of energy access and digital. It offers solar products with financing solutions in Africa, including Senegal, Mali, Côte d’Ivoire, Congo and Niger, and has been active in Madagascar since 2016.

In order to ensure that its products are accessible to all, Baobab + offers a payment service based on the repayment capacity of its customers through the Pay-as-you-go solution and its distribution network that spans the entire island.

WeLight, established in 2018, is a company that aims to provide reliable, accessible and clean energy to people in remote rural areas across Africa. This is made possible through the use of innovative technologies and the implementation of payment methods accessible to all.

Through its activities, the company aims to significantly impact the economic and social growth of the villages in which it operates.

LR Technologies, created in 2016, is a company specialized in solar energy, corporate telecommunications, video surveillance and home automation. Convinced that access to lighting is key for development, the company aims to distribute solar kits throughout the island and to contribute to the electrification in Madagascar.

Founded in 2007, ECOGEMAT is a family business whose mission is to provide renewable energy solutions in Madagascar, especially in rural areas.

The company has developed a new project to import and distribute solar products in order to bring quality, affordable and easy-to-use energy solutions.

EDM, established in 2005, offers energy solutions adapted to the needs of customers, especially in terms of renewable energy for telecommunication sites in Madagascar.

With more than 15 years of experience, more than 1500 customer sites and a network of more than 30 agencies in Madagascar, the distribution of solar kits complements EDM’s offers in remote areas.

Jovena operates in the distribution of petroleum products, production and sale of energy in Madagascar. Established in 1999, the company wants to expand its activities in sustainable energy transformation.

The company is now involved in the distribution of solar kits since the end of April 2021.

HERi operates in the distribution and financing of solar energy solutions in Madagascar. Since its creation in 2012, the company has expanded its network of kiosks in 14 regions and contributes every day to the improvement of the day-to-day lives of thousands of Malagasy families in rural areas.

HERi Go, an independent company of HERi Madagascar, was created in 2020. The company took over the PAYGO activity of HERi Madagascar and focuses on the distribution of lamps and individual solar systems through a network of agents and partners.

JiroVe, created in 2014, is active in rural electrification in Madagascar.

Its business model focuses on lamp and powerbank rental offers that allows lighting and phone charging solution to very low-income populations in remote areas of Madagascar. It also promotes the access to a clean, less dangerous and less expensive energy source than kerosene lamps.

The mobile operator, Orange Madagascar was established in 1997. The company, along with its subsidiary Orange Money, has started to provide energy solutions to Malagasy households. Since 2018, they are offering an entry-level domestic solar kit under the brand “Mjiro” to households that are not connected to the national electricity grid.

Mjiro makes solar energy accessible to the greatest number of people using payment solutions such as Orange Money and PAYG.

Created in 1995, TELMA started the sale of solar home systems in January 2020 with a more affordable and simplified payment method under the brand “MBalik”.

The company wants to democratize the access to cleaner energy for Malagasy households.

Metaplasco, created in 2008, started its activities in the import and distribution of building materials and basic necessities. Through its activities, the company realizes the importance of environmental and energy issues in the development of the country.

Thus, the branch SOLARLAND Madagascar was created for the distribution of solar solutions and thus improve the quality of life of Malagasy population.

StarTimes entered the market in Madagascar in 2014 and wants to contribute to the access to new technology and electrification in Madagascar. The company will offer the distribution of solar kits under their own brand “Startimes” which will be provided through their strong presence in the country with nearly 300 points of sale.

As a distributor of petroleum products in Madagascar since 1999, TOTAL has launched the distribution of “Total Sunshine”, a branded solar kit in their service stations. This is also in line with the group’s strategy to contribute to the social development of the populations where it operates. The distribution has been launched in May 2021.

Jirogasy is a Malagasy manufacturer and distributor of solar products. Initially specialized in the design and local production of solar computers, Jirogasy intends, since 2017, to promote its brand and develop solar kits that meet the needs of households from the localities and villages in which it is present.

L’entreprise s’est lancée dans la distribution de kits solaires en fin 2021.

MASONTSIKA SARL is a sister company of TANATECH, active in the energy sector for 12 years now in Madagascar.

This new company was created to launch and scale up the distribution of “OMNIVOLTAIC” brand certified solar kits.

Therefore, MASONTSIKA will use the usual TANATECH sales outlets in Tanà, wholesalers in the provinces, partners as well as their sales agents.The distribution was launched since February 2021.

APEM PAIQ is a Microfinance Institution present on the Malagasy financial sector since 2010..

APEM PAIQ works mainly in the Analamanga and Itasy regions and offers loans and additional non-financial services to micro entrepreneurs.

APEM PAIQ has developed in partnership with solar distributors, financing offers to promote the acquisition of certified solar kits, which allows it to contribute to rural electrification..

ANKA Madagascar is a company resulting from the merger between MAJIKA and EOSOL Madagascar and has been operating in the rural electrification sector since 2019. Currently ANKA operates more than ten mini-grids and intends to expand its impact with the distribution of quality solar kits of the LAGAZEL brand.

The company will mainly target the southern region of Madagascar, but also intends to distribute its products to the rest of the country.

Founded in 2016, SOLARPLEXUS is a company initially based in La Reunion and aims to provide solutions for developing countries in the renewable energy and pre-electrification sector in rural areas.

The company, along with its subsidiary SOLARPLEXUS MADAGASCAR, sets goals to improve the comfort of the inhabitants of isolated villages through its solar charging station. SOLARPLEXUS offers several solutions : the rental of mobile battery which is used as light source, providing information through additionnal devices such as radios and TV, and providing source of revenue from refrigerator.

SOLARPLEXUS MADAGASCAR offers purchase and rental services for mobile batteries by paying a regular recharging fee at the solar stations

Established in 2018, Yellow is present in several African countries such as Malawi, Rwanda, Zambia and Uganda. The company is active in the distribution of SHS products and smartphones. The company contributes, through its activity, to the acceleration of digitalization and development in the countries where it operates.

Yellow extends its activity to Madagascar and distributes quality solar equipment under the trade name “FANILO”