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When ‘Patient Capital’ isn’t Patient Enough: How Mismatched Funder Timelines in PAYGo Solar are Holding Back Energy Access in Africa
The energy access conversation in Africa is usually framed around deployment, with success defined by connection targets, cost reduction and rural reach. But Kolawole Osinowo at the FATE Institute argues that these goals don't address a binding constraint for companies working at the last mile: the time it takes for households to repay the solar assets they bought via PAYGo financing. As he explains, the PAYGo model spreads out payments for the benefit of the consumer, but it adds the cost of waiting to the provider’s balance sheet — and that cost later spreads to the company’s investors. And though much of the capital that supports energy access presents itself as patient, willing to wait for these PAYGo assets to be repaid, in practice, these investors often behave otherwise. He discusses the impacts of this mismatch, and explores how capital can be structured for better alignment with PAYGo timelines.
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ADB and Partners Power Timor-Leste’s Energy Future with Landmark Investment in Solar and Battery Storage
The landmark investment—which is also Timor-Leste’s first independent power producer project —will be operated by Manatuto Renewables Power and will help to transform the country’s energy landscape by reducing reliance on imported diesel.
- Region
- South Asia
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Taking First-Loss Guarantees Further: Four Problems That Keep Social Enterprises Stuck, and How Entrepreneurship Support Organizations Can Address Them
Grants and equity dominate the conversation in impact finance, but according to Srinivas Ramanujam at Villgro, debt is often the most practical tool for social enterprises that are too large for a grant, but too small and early-stage for most equity investors. And since lenders face real and perceived risks around these companies' creditworthiness, first-loss guarantees can help make debt capital more accessible. However, he explains that a guarantee alone is not a silver bullet, and that the harder work involves solving the problems that keep enterprises stuck. He explores how Villgro has addressed four of these key challenges, highlighting takeaways for entrepreneurship support organizations and other intermediaries.
- Categories
- Investing, Social Enterprise
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PolicyStreet Raises US $5 Million to Expand Insurance for Gig Workers and SMEs
BlueOrchard's investment reflects growing interest in businesses that combine commercial growth with measurable social impact, particularly around financial inclusion and access to essential services.
- Categories
- Finance, Investing, Technology
- Region
- South Asia
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Analysis: The AI Sustainability Paradox
AI is being sold as a tool to solve sustainability’s hardest data problems, from Scope 3 emissions to climate-risk intelligence. But the infrastructure behind that intelligence — data centers, water use, energy demand, chips, grids, and community consent — is becoming its own sustainability test. Drawing on conversations at Trellis Impact 26, Ming Wong explores what AI’s physical footprint means for impact investors, corporate sustainability leaders, and the communities being asked to host the next generation of digital infrastructure.
- Categories
- Energy, Investing, Technology
- Region
- Global
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Indonesia’s Jailing of Gojek Founder Raises Fears for Investor Confidence
Authorities say Nadiem Makarim abused his authority to favour Google in the procurement of laptops for school kids.
- Categories
- Education, Investing, Technology
- Region
- South Asia
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A New Chapter for the GIIN
Today’s world is very different from the world we were in when the GIIN started. Discourse has evolved from whether investors should pursue impact to how they do so in an incredibly dynamic and tumultuous time. It’s a pivotal moment for the impact investing industry and the GIIN because the need for solutions makes our work more vital than ever.
- Categories
- Investing
- Region
- Global
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19 Firms Get $1.5 Million Grant to Boost Solar-Powered Businesses in Africa
The programme which aims to deploy 3,800 productive use appliances, including solar-powered water pumps, refrigerators and milling machines, while creating over 3,000 green jobs across the three countries.Eight Nigerian companies were among the beneficiaries selected for the initiative.
- Region
- Sub-Saharan Africa
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