Imagine declining a lucrative $1.5 million offer and yet becoming one of Africa’s fastest-growing businesses—not once, but twice. That is the audacious story of Tonye Irims, WiSolar’s founder and CEO, and it exemplifies bold leadership and purpose-driven business.
Why This Sets WiSolar Apart
- Principled Funding Option: WiSolar received a $1.5 million loan offer from the state-owned Industrial Development Corporation (IDC) of South Africa at the end of 2023. Irims, however, refused. He believed that the terms—heavy disclosure, repayment timelines, and lack of strategic value—did not fit with the company’s objectives.
- Ethical Growth Over Quick Cash: “If you’re here to make a quick buck and not play the long game,” Irims said, “that’s a red flag.” His decision ensured WiSolar retained its intellectual independence and long-term vision.
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WiSolar’s Incredible Trajectory
- Double Win on Growth Charts: In 2024 and 2025, WiSolar was listed as one of the Financial Times’ Fastest-Growing Companies in Africa because of its innovative business model.
- Smart Financing Without the Strings: The company proved they can raise bootstrapped capital without sacrificing values in 2024 when they obtained a $9 million revolving credit line from Chinese lenders to support its Climate Zero campaign across ten Nigerian states.
From Setbacks to Solar Success
Magnificence wasn’t Irims’ first thing. WiMobile in 2006 and FriendsChip in 2011 were his first two failed businesses. However, such mistakes were lessons rather than final results.
WiSolar, a pay-as-you-go solar electricity provider powered by an intuitive smartphone app, was founded in 2016 during South Africa’s devastating power disruptions. One-stop, hassle-free access to clean energy.
With cutting-edge offerings like WiGo, a prepaid solar platform introduced in 2022, the company currently serves both South Africa and Nigeria.
WiSolar is a locally driven, inventive, and flexible company that embodies Africa’s energy narrative. Irims is not only starting a business by fusing digital banking and renewable technology, but he is also enabling a sustainable future throughout the continent.
