Simbarashe Gwenzi is making an indelible mark in the global renewable energy space by establishing an effective platform to financially empower small businesses operating in Zimbabwe, South Africa, and other parts of the continent.
The young entrepreneur, founder, and CEO of Youth Economic Capital (YEC), is driven by the vision of an economically emancipated Africa. To this end, his company has become a key player in providing financial support to small companies in agriculture and other sectors within the renewable energy space.
While YEC continues to grow from strength to strength—expanding beyond Zimbabwe’s borders—its crucial role in addressing the gaps that often hinder emerging startups has created lifelines for many entrepreneurs.
Recently, Simbarashe was invited to the United Nations Climate Change Conference in Azerbaijan, where he had the opportunity to share his journey with YEC. His ‘Green Energy Accelerator’ project, which won the Youth4Climate award in 2023, marked a defining moment for him and his entire team. The recognition reinforced the importance of innovative, community-focused solutions and helped cement Simbarashe’s reputation as a recognized global leader in renewable energy.
At the conference, Simbarashe delivered a presentation outlining his project, which was featured at one of the many side events. He detailed how the initiative effectively tackled two interconnected challenges—energy access and financial inclusion—by deploying solar-powered kiosks in rural areas and integrating pay-as-you-go financing for energy systems and productive-use equipment.
Beyond providing technological solutions to rural areas, the project also empowered local communities, engaged entrepreneurs, and trained technicians to tailor solutions that fit the unique needs of small and medium-sized businesses in these regions.
The international recognition of Simbarashe’s YEC project demonstrates that sustainability and economic growth can go hand in hand.
In a LinkedIn post about his speech, Simbarashe reflected on his journey with the YEC Fund and the Green Energy Accelerator, as well as the Sparkling Solutions award received from the UNDP Rome Centre. He highlighted three key enablers for a sustainable future led by youth:
- Education and Skills Development: Equipping youth with technical knowledge and leadership skills to address global challenges such as clean energy access and climate-smart development.
- Financial and Technological Inclusion: Tools like SoshoPay are essential in bridging gaps, enabling youth and small businesses to access credit and energy solutions that drive economic growth.
- Collaborative Ecosystems: Policies and partnerships must prioritize youth voices, creating enabling environments where their ideas can scale and thrive.
Through YEC, Simbarashe has successfully empowered women and youth-led entrepreneurs with innovative funding solutions. Platforms like SoshoPay have opened doors to opportunities that are often closed by traditional banks when entrepreneurs seek loans.
SoshoPay, an energy fintech company, provides pay-as-you-go solar solutions, home appliances, and mobile devices to low-income earners in Southern Africa. With offices in Zimbabwe and South Africa, SoshoPay is dedicated to improving access to affordable energy and helping households achieve financial inclusion.
Operating under YEC’s conviction that access to clean energy is a basic human right, SoshoPay offers flexible, pay-as-you-go solar solutions that provide low-income households with reliable and affordable energy. The company also offers home electrical appliances and mobile devices on similar terms, making them more accessible for those in need.
By providing access to essential energy products and services, YEC promotes financial inclusion through affordable payment plans tailored to customers’ budgets.
Through SoshoPay, Simbarashe has structured impactful finance deals, financed over 500 entrepreneurs, and built valuable partnerships locally, regionally, and internationally.
Simbarashe attended St. George’s College in Harare for high school (2003–2008) before enrolling at the University of Zimbabwe, where he earned a Bachelor of Science (BSc) Honours degree. He then pursued a Master of Science (MSc) in Risk Management and Insurance at the National University of Science and Technology.
In addition to his entrepreneurial pursuits, Simbarashe is employed by Old Mutual and has also worked at Heritage Life and KM Financial Solutions. His extensive experience in the financial sector has honed his leadership and entrepreneurial skills.
“I’m deeply inspired by the incredible energy of young leaders across the globe and remain committed to fostering innovative, inclusive, and sustainable solutions for rural and peri-urban communities in Africa. Together, we are shaping a future where no one is left behind. Let’s continue to innovate, collaborate, and create meaningful change,” says Simbarashe.
“Since our inception, YEC has been at the forefront of promoting renewable energy initiatives and supporting sustainable housing projects across Zimbabwe. Our commitment is not just to economic growth but to ensuring a greener, more sustainable future for all Zimbabweans.”
Although Simbarashe has already achieved significant success with YEC, his journey is far from over. Driven by a passion to help African entrepreneurs, he is on a mission to bring about tangible results in the development of small businesses, employment creation, and financing through innovative technology and collaboration.
As a global innovator and African startup founder, Simbarashe’s solutions are not only benefiting African entrepreneurs—they have the potential to change the world. Under his leadership, YEC is poised to reach new heights as more entrepreneurs embrace the platforms he has created. Remember the name Simbarashe Gwenzi—the final chapter of his story is still unfolding, and you are likely to hear more about him in the near future.
