Business
Wetility: MultiChoice-Backed Solar Firm Powering South Africa’s Future
A start-up with big ambitions
In just six years, Wetility has grown from a small Johannesburg solar rental start-up into one of the country’s fastest-rising renewable energy companies. Founded in 2019 by Vincent Maposa and Ikenna Oguguo, the company was created to tackle one of South Africa’s biggest frustrations: unreliable electricity supply.
Back then, the idea was bold yet simple. Provide affordable solar systems that households and businesses could rent instead of buy outright. Today, Wetility is not only delivering on that promise but also setting the pace for how South Africans embrace renewable energy.
The MultiChoice connection
Wetility’s early breakthrough came through support from the MultiChoice Innovation Fund. That initial loan allowed the business to prove its model, which in turn helped attract R930 million in Series A funding by 2023 from investors such as Sanlam, Metier Sustainable Capital II, and the IDC.
By May 2025, Wetility had repaid MultiChoice’s loan in full, ahead of schedule. Only a month later, the company announced it had secured a further R500 million from Jaltech, a leading local energy investment firm. This funding is set to roll out more than 16 MW of solar capacity nationwide.
Technology that saves money
What makes Wetility stand out is its use of smart technology. In July 2025, the company became the first winner of the South African Photovoltaic Industry Association’s Research and Development Award for its AI Mode software.
This innovation automatically adjusts inverter settings to maximise efficiency and has already been credited with helping some customers save up to 90% on monthly electricity bills.
Options for every customer
Wetility has built a range of packages to suit different needs and pockets. The Pace range starts at R1,099 per month for backup-only systems, while solar-and-backup bundles begin at R1,399. Multi-dwelling developments can access cheaper Rise packages from just R799 per household.
Businesses can opt for Lift packages from R1,749, while taverns have a specialised Luxe product that includes a point-of-sale system and stock credit. This layered approach has allowed Wetility to grow across diverse markets, from suburban homes to township enterprises.
Growth in a shifting energy market
The company’s rise is all the more impressive given the broader slowdown in demand. With load-shedding largely suspended in 2024 and 2025, many installers have seen a drop in sales as households hold off on backup solutions.
Even MultiChoice, which once tested its own solar products, appears to have pulled back, with incoming majority owner Canal+ hinting that its focus will remain firmly on entertainment.
For Wetility, however, the outlook is brighter. With strong investor confidence, scalable products, and award-winning technology, the company has proven that South African innovation can thrive even as the energy landscape changes.
Also read: South Africa Interest Rates 2025: Why the Next Cut Will Be a Close Call
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Source: MyBroadband
Featured Image: Life Solar
