For years, Zimbabwe, a nation of 16 million grappling with persistent power shortages, has largely remained on the periphery of Africa’s nascent tech startup boom. While innovation hubs flourished across the continent, the Southern African nation faced a unique set of economic and political headwinds that often deterred foreign investment. Now, a rare cross-border deal is signaling a potential shift, with French impact investment firm Investisseurs & Partenaires (I&P) making its first foray into Zimbabwe’s tech scene by backing NeedEnergy, a promising local startup focused on revolutionizing the country’s energy landscape.

The investment, announced this week, comes under 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 offering sustainable and accessible energy solutions across sub-Saharan Africa. For I&P, a firm established in 2002 with a long track record of supporting impactful SMEs in Francophone Africa and later expanding into Anglophone nations like Ghana and Nigeria, this move marks a strategic extension into the Southern African market.

NeedEnergy, founded in 2019 by Leroy T. Nyangani and Desire Masunda, is tackling Zimbabwe’s energy challenges head-on with a focus on smart and clean energy solutions. The startup is developing an innovative energy management platform leveraging artificial intelligence and machine learning. This platform allows users to monitor their energy consumption in real-time, manage distributed electricity grids, and even facilitate energy trading between microgrids and individual consumers. In a country where power outages are frequent and access to reliable energy remains a significant hurdle for both households and businesses, NeedEnergy’s technology offers a glimmer of hope.

The Zimbabwean startup’s innovative approach has already garnered international recognition. NeedEnergy was a finalist for the prestigious Start Up Energy Transition Award in 2025 and has participated in renowned accelerator programs like Techstars Energy Accelerator in 2023 and Creative Destruction Lab. These accolades underscore the potential of NeedEnergy’s vision and the ingenuity of its founders.

This landmark investment is not solely the work of I&P. The deal also involves a strategic partnership with Gaia Impact Fund, another French specialist impact investment fund dedicated to renewable energy in Africa and Asia. This collaboration highlights a powerful synergy between two key players in the impact investment space. I&P brings its extensive experience in financing and supporting African SMEs across various sectors, providing crucial strategic guidance and access to a broad network. Gaia Impact Fund, on the other hand, offers deep technical expertise in renewable energy technologies and business models tailored for African markets. This combined approach ensures that NeedEnergy will not only receive the necessary financial backing but also the specialized technical and strategic support required to navigate the complexities of the energy sector.

Zimbabwe, despite its challenges, 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. Furthermore, the persistent energy deficit creates a strong demand for alternative and efficient energy sources.

The investment in NeedEnergy arrives at a time when Zimbabwe’s tech ecosystem is showing nascent 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 be accepted into the prestigious Y Combinator accelerator in Silicon Valley. This achievement, coupled with I&P’s investment in NeedEnergy, suggests a growing confidence in the potential of Zimbabwean entrepreneurs to develop impactful technological solutions.

While the scale of I&P’s investment in NeedEnergy has not been publicly disclosed, the deal itself carries significant symbolic weight. It represents a rare instance of French investors backing a Zimbabwean startup, signaling a potential thawing of investment apprehension towards the country. For NeedEnergy, the funding will be crucial in 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 highlights the critical role that foreign investment and local innovation can play in addressing Africa’s pressing energy needs. As Zimbabwe continues to navigate its economic landscape, this deal offers a tangible example of how strategic partnerships and technological ingenuity can spark progress and potentially illuminate a brighter future for the nation.