Zimbabwean Innovator Simbarashe Gwenzi who is currently attending the United Nations Climate Change Conference in Azerbaijan representing the country and his organization YEC fund has shared an inspiring story of his journey.
Gwenzi who delivered his presentation during the sidelines of the COP29, at an event titled Youth-Driven Sustainable Cities: Advancing Just Transformations of Urban Systems" organized by YES-Europe in collaboration with the European Youth Energy Network (EYEN), Politecnico di Torino and Paryavaran Mitra.
Gwenzi’s project won an award in 2023 for the Youth4Climate because of their Green Energy Accelerator project said this was a defining moment for him and his entire team as that reinforced the importance of innovative community focused stations.
“At its core, the project addressed two intertwined challenges—energy access and financial inclusion—by deploying solar-powered kiosks in rural areas and integrating SoshoPay powered by YEC Fund, a fintech solution enabling pay-as-you-go financing for energy systems and productive usage equipment.
“This initiative was not just about installing technology; it was about empowering communities and engaging local entrepreneurs, training technicians, and tailoring solutions to fit the unique needs of rural MSMEs, we proved that sustainability and economic growth can go hand in hand,” explained Gwenzi.
He said that the journey taught them that the most impactful solutions were those co-created with the very communities they aim to serve and it was about innovation rooted in practicality and inclusivity.
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He however pointed out that despite the progress, there are challenges they continue to face:
- Infrastructure Gaps: Rural areas often lack basic infrastructure for energy distribution with Peri-Urban areas facing similar challenges and theft of critical components.
- Our Approach: The modular design of solar kiosks and solar home systems ensures easy deployment without reliance on centralized grids. SoshoPay’s PAYG model ensures that even the most underserved communities can afford and sustain these solutions.
- Financial Barriers: Many MSMEs in these areas operate outside formal financial systems, limiting their access to credit.
- Our Solution: SoshoPay leverages data to build credit profiles for MSMEs, enabling access to energy systems and productive equipment under affordable terms.
- Sustainability of Solutions: Maintenance and long-term usability of deployed systems remain a concern.
- Our Response: We train local technicians through the Green Energy Accelerator to maintain these systems, creating both sustainability and local employment.
- Policy Constraints: Regulatory hurdles can slow progress and add costs.
- Our Advocacy: We actively work with policymakers to create an enabling environment for renewable energy adoption and microfinance solutions.
“Moving forward, our vision is clear: scale the Green Energy Accelerator to reach more underserved communities, ensuring they not only gain access to energy but also the financial tools to grow their businesses.
“Through SoshoPay, we’re bridging the gap between technology, finance, and sustainability, creating a replicable model for building resilient emerging economies,” concluded Gwenzi.