ABSTRACT: Universal access to electricity remains one of the major structural challenges to development in sub-Saharan Africa, and particularly in the Democratic Republic of Congo (DRC), where territorial disparities and low rural electrification rates significantly hinder inclusive economic growth. Faced with the technical and financial limitations of traditional centralized grids, mini-grids and other decentralized electrification solutions are emerging as alternatives adapted to the country's geographical, demographic, and socio-economic realities. However, the development of these solutions fundamentally depends on the ability to mobilize appropriate, sustainable, and structured financing mechanisms. High initial infrastructure costs, combined with the limited repayment capacity of rural populations and a still-developing institutional environment, constitute major constraints to investment. The analysis highlights the need for a hybrid financial architecture, combining private equity, concessional debt, subsidies, and innovative financial instruments such as mezzanine debt, crowdfunding, and pay-as-you-go mechanisms. The economic sustainability of projects depends on a delicate balance between the financial viability of operators and affordable pricing for users. Business models must incorporate diversification of energy services, the integration of productive uses, and rigorous risk management (demand, exchange rate fluctuations, regulatory instability). The leverage generated by combining different funding sources strengthens investment capacity and improves project resilience. Institutionally, the regulatory framework plays a crucial role. The clarity of tariff rules, legal stability, transparency in subsidy allocation, and the effectiveness of rural electrification agencies are key factors in the sector's attractiveness to private investors. Tax and customs incentives, as well as risk guarantee mechanisms, are essential levers for reducing the cost of capital and stimulating local financial sector involvement. The study of the Congolese context reveals considerable energy potential, particularly in hydroelectric and solar power, but also persistent challenges related to access to credit, administrative complexity, and the structuring of public-private partnerships. Improving the financing of mini-grids in the DRC therefore requires an integrated approach combining regulatory reforms, institutional capacity building, and financial innovation. Ultimately, financing mini-grids is not merely a technical or budgetary issue, but a strategic challenge for energy governance and structural transformation. Establishing a coherent financial and regulatory ecosystem is essential to ensure the sustainability of projects, accelerate rural electrification, and contribute significantly to achieving the Sustainable Development Goals, particularly SDG 7 on access to reliable, affordable, and sustainable energy.
JERRY MUJANI KANANGA (Thu,) studied this question.