Description
Simusolar provides and finances accessible, affordable, and energy-efficient agricultural equipment (primarily irrigation equipment) designed for off-grid businesses in Sub-Saharan Africa
Market Opportunity/ Problem
Only 3% of farmers in Tanzania actively irrigate. The vast majority engage in low-intensity agriculture and time their cultivation with the two rainy seasons. Solar water pumping presents an opportunity for greater yields, year-round harvests, better prices for crops, and greater climate change resilience due to less dependence on rain. The ROI to farmers is significant, especially with the payment plans provided by Simusolar. Moreover, Simusolar works with quality input suppliers and capacity builders to ensure farmers have more than water, but also GAP, inputs, and market access.
Company Information
Years of operation
6
Type of organization
Private company
Stage of the business
Growth stage
Agribusiness focus
Irrigation
Agriculture value chain(s) focus?
Food crops
Primary country of operation
Tanzania
Other country(ies) of operation
Uganda
How many employees does your business have?
136
Does the business have more than 30% women ownership?
Yes
Does the business have more than 30% youth ownership (under 35 years)?
No
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
>1m
What is the split between equity and debt?
All equity; Simusolar already has debt relationships