Zambia: Acumen invests $5 million in Sun King’s solar business
The equity investment is meant to help the Zambian subsidiary attract local-currency loans. The stated goal: give 5.6 million people access to energy within five years.
- Acumen invests $5 million in Sun King Zambia.
- Goal: 5.6 million people with access to energy within five years.
- Nearly half of Zambians have no electricity.
The impact investment fund Acumen has taken a $5 million stake in Sun King’s Zambian subsidiary, through its Hardest-to-Reach programme. The money is to be used to expand the off-grid solar kit business and attract local-currency financing.
Over five years, the operation aims to give 5.6 million people in Zambia access to energy, including up to 4.5 million who would be connected for the first time.
Paying for your lamp by mobile money
Sun King, founded in 2007, has operated in Zambia since 2021 and has already distributed a million kits there. Its customers pay over 12 to 24 months by mobile money. The company also operates in Nigeria and Kenya, where it secured $156 million in bank financing in July 2025.
The need is great: nearly half of Zambians have no access to electricity, and access falls to 33% in rural areas. The country depends on hydropower for 80% of its production.
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