Ouagadougou, Burkina Faso, September 28, 2021— IFC and Sodigaz, a leading energy company in Burkina Faso, today announced an agreement to boost access to cleaner energy solutions for thousands of households and businesses in Burkina Faso.
Under the agreement, IFC's Advisory Services team will support Sodigaz to upgrade and expand its liquified petroleum gas (LPG) distribution and service stations, increase solar home kit sales, and introduce solar mini grid solutions. The company is the country's leading distributor of LPG and in 2019 also launched solar power solutions.
The goal is for LPG to replace firewood, charcoal and other higher carbon fuels that dominate the domestic market, helping to reduce Burkina Faso's emissions of greenhouse gases and other pollutants, and improving lives of women who bear the brunt of pollution and negative health outcomes from cooking with these fuels.
"Our aim, with IFC's support and global expertise, is to become a leading player in providing off-grid clean energy solutions in Burkina Faso," said Lala Bolly, Chief Executive Officer of Sodigaz. "If we can supply enough LPG to help people switch from dirty cooking fuels and also increase the use of solar energy solutions, we will improve the health and environment for millions of Burkinabè, especially women."
Limited supply of sustainable energy and fuel options for households and industry in Burkina Faso has been a major constraint to the country's social and economic development. LPG is considered an important transition fuel for many Burkinabè as the country's energy base transitions to greener options.
"IFC is proud to support Sodigaz' ambition to help Burkina Faso switch to cleaner energy. Africa's growing economies need new solutions to longstanding energy challenges and private sector companies like Sodigaz can help meet that need, while also improving living standards for millions of Burkinabè," said Ronke Ogunsulire, IFC's country manager for Burkina Faso.
For the next four years, IFC aims to deliver up to $1.2 billion in investments in the Sahel, including mobilization, in key sectors for growth and social progress, such as infrastructure, green energy, agribusiness and value chain development, and financial inclusion.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
Stay Connected
About Sodigaz
Created in 1977, SODIGAZ is currently the leader in gas in Burkina Faso. With a network of several thousand sales outlets throughout the country, SODIGAZ has become the driving force behind the popularization of butane gas use by the population and economic players, thus helping to reduce the consumption of wood fuel, fight deforestation and promote the development of income-generating activities. In addition to its positioning in fuel distribution, SODIGAZ has also diversified into solar energy in order to increase access to electricity and more strongly support the sustainable development dynamic in Burkina Faso. Finally, SODIGAZ has initiated a process of expansion in Africa, with a first concrete establishment in Benin through the new subsidiary PROGAZ. For more information, you can contact us by e-mail (noraogo.sawadogo@sodigaz.com) or consult the following links.
Website : http://www.sodigaz.com/
Linkedin : SODIGAZ APC
Twitter : Sodigaz officiel
Contacts
Stay Informed
Sign up to have customizable news & updates sent to you.