Africa’s biggest solar mini-grid operator, WeLight, said the International Finance Corp. has acquired a stake in the company, providing fresh capital to support its expansion into Nigeria and the Democratic Republic of Congo.

The company, which operates solar-powered mini-grids in Madagascar and Mali, raised €27 million ($31 million) from the World Bank’s private-sector lending arm and its founding shareholders. Established in 2018 by Axian Group, Sagemcom, and Norfund, WeLight supplies electricity to rural communities beyond the reach of national power networks. The company operates nearly 190 mini-grids and serves more than 800,000 people across Africa.

WeLight funds expansion into Mission 300

The investment comes as governments, development lenders and private investors step up efforts to expand electricity access across sub-Saharan Africa, where hundreds of millions of people still live without reliable power. WeLight said the funding will support its entry into Nigeria and the Democratic Republic of Congo while strengthening operations in Madagascar and Mali.

The expansion gives the company a presence in some of Africa’s largest underserved electricity markets. Nigeria and the Democratic Republic of Congo are key targets under Mission 300, an initiative led by the World Bank Group and the African Development Bank that aims to connect 300 million people to electricity by 2030.

Investment fuels African rural electrification

WeLight said the capital raise, backed by IFC, Axian, Norfund and Sagemcom, will help finance a broader rollout of mini-grid projects across the continent. The company plans to deploy more than 1,000 mini-grids by the end of the decade, with a goal of providing electricity access to nearly 10 million people.

“IFC’s arrival marks a major step for WeLight,” Chief Executive Officer Romain de Villeneuve said. “This investment allows us to build a pan-African platform across key rural electrification markets and bring together long-term partners to support large-scale deployment. Our ambition is to accelerate the rollout of mini-grids across Africa and help improve the lives of 10 million people by 2030.”

The IFC said the investment aligns with efforts to expand access to affordable electricity while supporting economic development in rural communities. “IFC’s investment in WeLight supports the ambitions of Mission 300 by accelerating electrification solutions that create jobs,” said Fatoumata Sissoko-Sy, IFC’s regional industry manager for infrastructure in West Africa. “By supporting WeLight’s expansion, we are backing a platform with the potential to scale rapidly, attract additional private investment and support economic growth.”

Powering Growth: Rural Africa’s solar revolution

Since its founding in 2018, WeLight has grown into one of the largest rural electrification operators in sub-Saharan Africa. Its network of solar-powered mini-grids combines renewable energy generation, battery storage and local electricity distribution systems to serve communities located far from national grids.

The company says access to electricity through its projects supports essential services, including healthcare and education, while also helping local businesses operate more efficiently. IFC’s investment brings together development finance, industrial expertise, and operational experience within a single shareholder group, positioning WeLight to expand its footprint as demand for off-grid power solutions continues to grow across the continent.