Rwandan entrepreneur raises Rwf240m through crowdfunding

Henri Nyakarundi. Courtesy.

Henri Nyakarundi, the brain behind African Renewable Energy Development (ARED), has raised €240,100 (about Rwf240 million) on German’s Bettervest—one of the largest crowdfunding debt platforms in Europe.

He is almost edging closer to raising €250,000 (Rwf250.9 million), which he targets to raise on the platform.

According to Nyakarundi, the money raised will increase ARED’s capacity and enable them to set up more other 80 solar kiosks in the country.

The entrepreneur revealed the firm has a target to raise about $1 million before the end of this year.

“We are almost there. We have three-quarters of the money and remaining with only 25 per cent,” he said.

In the recent past, the entrepreneur has worked to improve the technology on the solar hubs he operates. Today, these solar kiosks provide other communication and government services.

There are still a few people in Rwanda with access to electricity and internet.

Through the distribution of Shiriki hubs operated by franchisees, ARED wants to close the digital divide with freely available Internet as well as create job opportunities.

Executive Watch is a weekly column that tracks the careers and graduation of top companies in Rwanda and the region. Feel free to send us tips on promotions in your respective firms on editorial@newtimes.co.rw

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