Global impact investor Acumen announced on September 23, 2026, a $5 million equity investment in Sun King’s Zambian subsidiary to expand access to off-grid solar energy in the country. The investment was made through Acumen’s Hardest-to-Reach Catalyze initiative, which supports solar companies operating in underserved African markets. The transaction is designed to accelerate Sun King’s nationwide rollout while helping the company attract additional local currency financing from Zambian lenders.
Closing Zambia’s Electricity Access Gap
Zambia continues to face a significant electricity access gap while working to reduce its dependence on hydropower, which accounts for roughly 80 percent of electricity generation according to the World Bank. Nearly half of the population still lacks access to electricity, while rural electricity access stands at 33 percent. Recent droughts have further strained the country’s power system, making off-grid alternatives increasingly important for households and businesses.
Scaling a Pay-As-You-Go Solar Model
Founded in 2007, Sun King designs, finances, distributes, installs, and services solar products ranging from small kits that power lights and phone charging to larger inverter systems for businesses, schools, and health centers. Its pay-as-you-go model allows customers to repay the cost of a system over 12 to 24 months through mobile money, with daily payments starting at about $0.26. Since entering Zambia in 2021 as Greenlight Planet Zambia, the company has delivered one million solar kits in the country.
Leadership Comments on Market Demand
Sun King Chief Financial Officer Krishna Swaroop said the company has confirmed strong unmet demand for reliable and affordable solar energy in communities the grid has not reached. He noted that Acumen’s investment provides both capital and confidence for the nationwide rollout. Swaroop added that this is the first equity investment into one of Sun King’s country-level businesses.
Unlocking Local Currency Financing
Acumen structured the investment to help Sun King secure additional debt from Zambian financial institutions, extending the impact beyond the initial equity commitment. Sandra Halilovic, Head of Hardest-to-Reach Catalyze, said Sun King’s track record and clear local demand gave Acumen confidence that the model could scale quickly in this newer market. By providing equity capital that unlocks local lending, the partnership aims to close the energy access gap faster.
Projected Impact and Regional Momentum
Over the next five years, Sun King is expected to electrify nearly 5.6 million people, including up to 4.5 million people in Zambia who could gain access to electricity for the first time. The company has used local financing to scale in other African markets, securing $156 million in Kenya in July 2025 and later opening a manufacturing plant in Nairobi. These milestones demonstrate the scalability of Sun King’s pay-as-you-go solar approach across the region.
Hardest-to-Reach Initiative
Acumen’s Hardest-to-Reach Catalyze initiative is a $250 million program focused on activating clean energy markets in 17 underserved African geographies. Through the initiative, Acumen has backed off-grid energy companies in Malawi, Somalia, Benin, and Uganda using loans, receivables financing, and other structures. In Zambia, the initiative previously invested $1.25 million in solar distributor RDG Collective to finance solar home system inventory and solar generators.
The $5 million investment reinforces Acumen’s strategy of using patient capital to strengthen businesses that serve low-income communities. For Sun King, the partnership supports a wider rollout of affordable solar energy to households and enterprises that remain beyond the national grid. As Zambia confronts both energy access challenges and climate-related power disruptions, the collaboration highlights how private investment can expand clean and reliable electricity.