A Quantum Leap – Initiating Local Investments
The search for global energy solutions is expanding. International entrepreneurs and investors alike have begun funding local green initiatives, such as the well renowned American successive entrepreneur Jeff Bezos, founder of Amazon Group who recently launched a $10 billion Bezos Earth Fund aimed at tackling climate change (Calma, 2020).
Bezos is to be commended for single handedly becoming the largest contributor towards energy and climate change funding overnight. The beneficiaries of the Bezos Earth Fund are sixteen local, United States based organizations with established reputation for being environmental groups and climate change activists (McDonnell, 2020).
Climate change and energy are global crises and it remains unknown whether more investors will follow the Jeff Bezos’ example and support their local communities around the world.
Whilst foreign capital is considered essential in financing private sectors in Africa and around the world, it is surprising to notice how many entrepreneurs and investors are reluctant to break through the ‘local investment comfort zone’ and begin investing abroad.
Contrary to the above, African investors are well known for seeking solutions from abroad, with 90% of impact investors neglecting Africa in favor of European and North American start-up companies (World Economic Forum, 2019).
A quantum leap is required for investors to follow in the footsteps of Jeff Bezos by recognizing and acknowledging the magnitude of investing in their local communities. Furthermore, a local solution could be expanded through capitalizing and participating in the enabling of an international roll-out.
Investors, entrepreneurs and philanthropists should be encouraged to start investing in their own local energy and climate solutions, where there is a greater need, regardless of the challenges being faced. U Micro Grid has an energy solution that will prove to be beneficial to Africa and the rest of the world. With investment opportunities available for investors, the U Micro Grid energy solution is ready to address the global energy crisis, yields high financial returns whilst spurring economic growth, improving infrastructure, reducing poverty and creating jobs.
