For years, Zimbabwe, a nation of approximately 16 million people, has struggled with chronic power shortages, leaving it largely on the sidelines of Africa’s burgeoning tech startup ecosystem. While innovation hubs have thrived across the continent, Zimbabwe has faced a unique combination of economic and political challenges that have often deterred foreign investment. However, a recent cross-border deal is signaling a potential turning point, as French impact investment firm Investisseurs & Partenaires (I&P) makes its inaugural entry into Zimbabwe’s tech landscape by investing in NeedEnergy, a promising local startup dedicated to transforming the country’s energy sector.
This investment, announced this week, is part of I&P’s Digital Energy program, an initiative funded by the European Union and implemented by the French Development Agency (AFD). The program aims to support high-potential companies that provide sustainable and accessible energy solutions throughout sub-Saharan Africa. For I&P, which was established in 2002 and has a strong track record of supporting impactful small and medium-sized enterprises (SMEs) in Francophone Africa, this move represents a strategic expansion into the Southern African market, which has been relatively untapped.
NeedEnergy, founded in 2019 by Leroy T. Nyangani and Desire Masunda, is addressing Zimbabwe’s energy crisis directly by focusing on smart and clean energy solutions. The startup is developing an innovative energy management platform that utilizes artificial intelligence and machine learning. This platform enables users to monitor their energy consumption in real-time, manage distributed electricity grids, and facilitate energy trading between microgrids and individual consumers. In a country plagued by frequent power outages and where access to reliable energy is a significant challenge for both households and businesses, NeedEnergy’s technology offers a beacon of hope.
The innovative approach of NeedEnergy has already gained international recognition. The startup was a finalist for the prestigious Start Up Energy Transition Award in 2025 and has participated in esteemed accelerator programs such as the Techstars Energy Accelerator in 2023 and the Creative Destruction Lab. These accolades highlight the potential of NeedEnergy’s vision and the creativity of its founders.
This landmark investment is not solely the result of I&P’s efforts. The deal also includes a strategic partnership with Gaia Impact Fund, another French impact investment fund focused on renewable energy in Africa and Asia. This collaboration underscores a powerful synergy between two influential players in the impact investment arena. I&P brings extensive experience in financing and supporting African SMEs across various sectors, offering crucial strategic guidance and access to a wide network. In contrast, Gaia Impact Fund contributes deep technical expertise in renewable energy technologies and business models tailored for African markets. This combined approach ensures that NeedEnergy will receive not only the necessary financial support but also the specialized technical and strategic assistance required to navigate the complexities of the energy sector.
Despite its challenges, Zimbabwe presents a compelling market for innovative energy solutions. The country boasts a significant internet penetration rate of 65.3%, providing a solid foundation for digital platforms like the one being developed by NeedEnergy. Additionally, the ongoing energy deficit creates a strong demand for alternative and efficient energy sources.
The investment in NeedEnergy comes at a time when Zimbabwe’s tech ecosystem is beginning to show signs of growth. Just last year, Ocular AI, an artificial intelligence startup founded by former Microsoft and Google employees, became the first Zimbabwean company to gain acceptance into the prestigious Y Combinator accelerator in Silicon Valley. This achievement, along with I&P’s investment in NeedEnergy, suggests a growing confidence in the potential of Zimbabwean entrepreneurs to create impactful technological solutions.
While the specific scale of I&P’s investment in NeedEnergy has not been publicly disclosed, the deal carries significant symbolic weight. It represents a rare instance of French investors supporting a Zimbabwean startup, signaling a potential easing of investment apprehensions regarding the country. For NeedEnergy, this funding will be crucial for scaling its operations, further developing its technology, and ultimately contributing to a more sustainable and reliable energy future for Zimbabwe.
This partnership between a seasoned French impact investor and an ambitious Zimbabwean startup underscores the critical role that foreign investment and local innovation can play in addressing Africa’s pressing energy challenges. As Zimbabwe continues to navigate its complex economic landscape, this deal serves as a tangible example of how strategic partnerships and technological ingenuity can drive progress and potentially illuminate a brighter future for the nation.
