Scotland has invested £15 million to help African communities in their race of fighting against climate change.
Sources allege more than 200 investors from Scotland have invested in providing Africa access to clean energy. The Energise Africa platform uses investor’s money to provide solar power systems to households and businesses in Africa.
Interested investors can become part of the latest project by investing mere £50 in one of several businesses partnered by Energise Africa. Furthermore, investors are sent both an interest payment, and capital repayment every six months, along with an option to reinvest.
In the first three years of operation, the initiative has paid over £4.9 million in returns on the approximately £15 million capital invested to-date.
According to reports, more than 452,000 people financially supported the cause to replace toxic kerosene with clean solar electricity in households. This further helped to curb Africa’s annual carbon dioxide emissions by 100,000 tonnes.
Sources also reveal some group’s projects were designed to supply light for fishing in Tanzania, whereas other projects also help to provide fridges to farmers in Kenya and help to uplift communities in Mozambique.
Energise Africa has allegedly to-date reduced annual carbon-dioxide emissions by 100,000 tonnes per year.
In the wake of the recent announcement, Anne-Marie Trevelyan, the UK International Development Secretary said, “As well as helping to tackle climate change, Energise Africa, backed by UK aid, is also giving everyone across the country the chance to earn potential interest on their investment.”
“It’s great to see Scots fighting climate change as part of these UK aid funded projects, especially in the year Glasgow will be hosting the COP26 global climate conference.
“Not only does it benefit communities in Africa but it also shows what a difference can be made when we work together to make more eco-friendly changes,” she added.