“We’d like to fully electrify Africa by 2040, with renewable energy at its core”.
That’s the vision that Tony Tiyou had when he set up Renewables in Africa (RiA), his engineering, consulting and media organisation. The trigger was seeing a satellite image showing the distribution of power across the planet, and seeing that Africa, was mostly veiled in darkness.
There’s a lot in this episode of the Karmic Capitalist, but 2 big lessons stood out for me for purpose-driven companies.
First, the need to ensure economic viability for the company and fill a real demand. For RiA, revenue from engineering and consulting work helps fund the media platform, which serves the larger mission of sustainable electrification across the continent. Achieving that important social purpose in turn opens up a bigger market within which RiA can be a player.
Second, if you’re a startup or scaleup looking at a large transformation, then you need to identify and collaborate with the parties that can make it happen – in this instance, companies with a focus on technology, finance, engineering and resources.
As well as, in RiA’s case, enabling other solar entrepreneurs to take up the baton across the vast continent.
Enjoy the episode – and apologies for my bad microphone!
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