HSG student supports NGO that supplies East Africa with solar energy

‘My visit to Malawi was a unique change of perspective,’ says 23-year-old HSG student Orfeusz Kolodziejczyk. He is currently working on his Master's thesis, in which he is developing a new method for the analysis and strategic development of microfinance institutions. This could benefit the poorer population in Malawi in particular, as it should enable more financing for solar lamps, solar systems and also companies in the field of sustainable energy in the medium term. ‘I am grateful that my HSG thesis can make a difference in a specific area,’ says Kolodziejczyk.

Financing should be independent of NGO funds

At the beginning of August 2025, Kolodziejczyk travelled to Malawi for a few weeks. In the capital Lilongwe, he worked with FEBCO SACCO employees to develop a sustainable scaling strategy. As a cooperative, FEBCO SACCO manages savings deposits in a similar way to a bank, thereby enabling microloans. These loans enable the population of Malawi to buy solar lamps or set up small energy companies, for example.

The problem is that the cooperative is largely dependent on the British NGO SolarAid for financing. High operating costs and the risk of loan defaults are putting pressure on the sustainability of the model. ‘The aim of the jointly developed strategy is for FEBCO SACCO to become financially self-sustaining within the next two to three years and to be able to scale the model in Malawi and other countries,’ says Kolodziejczyk.

‘Great significance for practice’

The HSG student is being supported in his Master's thesis by Stefano Ramelli, HSG Professor of Finance. ‘Orfeusz addresses a crucial issue of our times: how can the deployment of renewable energies be accelerated, particularly in the Global South, where securing the necessary initial investments is often a challenge?’ says Ramelli. This is not only academically relevant, but also of great practical importance. In addition to Ramelli, Moritz Loock, HSG titular professor for sustainability management, is also supporting the project.

Ramelli's description of the problems was confirmed by the HSG student during his trip to the region: ‘In rural Malawi, the lack of financing options is currently the biggest hurdle to the expansion of solar energy,’ says Kolodziejczyk. Solar lamps are set to replace the burning of toxic kerosene in the future, but they require a higher initial investment, which currently fails due to a lack of financing. Solar lamps could significantly improve living conditions thanks to clean light: to date, over 80% of people, especially in rural Malawi, have no access to electricity. Instead, they rely on kerosene lamps.

To develop the strategy, Kolodziejczyk first conducted a holistic business analysis based on his ‘Microfinance Scaling Framework’. "Contrary to my expectations, the analysis showed that entrepreneurial thinking in particular will be a key driver of FEBCO SACCO's success. The model cannot be standardised as it is in Europe and requires a great deal of creativity and responsibility for successful risk management," says Kolodziejczyk. A new decentralised management system is to form the basis for an operational and market-oriented realignment. In addition to the concentrated and collaborative work on site, the HSG student was also enthusiastic about how warmly the people of Malawi welcomed him.

HSG master's course gave impetus to the project

During his HSG master's studies, Kolodziejczyk attended a course in which he and his team advised the social enterprise SunnyMoney under its CEO Brave Mhonie. SunnyMoney distributes the solar lamps that FEBCO SACCO finances through microloans. "After completing the first project, SolarAid offered me the opportunity to continue providing support on site in Malawi.‘

For his work, the HSG student interviewed several experts and spoke with managing directors of several financial cooperatives in Malawi. ’I hope that my work will provide insights into how to build sustainable financing systems for societies that have been largely excluded from them until now." Worldwide, 1.4 billion people have no access to the financial system, which severely limits development opportunities in many countries.

After completing his studies, Kolodziejczyk is drawn to areas related to strategy, finance and entrepreneurship. ‘At HSG, I was able to build up a good network for this. I was particularly grateful for the inspiring environment with many ambitious fellow students.’ He also appreciated that many HSG courses had a clear practical relevance.