CEI Africa announces EUR 1.1M investment in MPower Ventures AG to accelerate clean energy access – CEI Africa
Summary
Additionally, it will support the diversification of its product portfolio to align with evolving customer needs and emerging market trends.MPower finances and distributes small to mid-capacity solar products while providing knowledge, software, and financing solutions to its network of solar installers, distributors and large clients including large private companies. MPower offers both inventory and consumer financing to its B2B partners and clients.With over 50,000 solar products and appliances sold across seven countriesZambia, Cameroon, Togo, Ghana, Namibia, Botswana, and ZimbabweMPower is now focused on scaling its presence in West and Southern Africa. The company aims to target markets with unreliable or non-existent grid infrastructure, catering to households and SMEs, including those in agribusiness and service sectors. There is no doubt that CEI Africas match funding has catalyzed additional funding for MPower crucial for our growth and expansion plans.Steven Evers, a Member of the Executive Board of CEI Africa, said With CEIAs support, we are excited to see MPower expand its impact across West and Southern Africabringing reliable, off-grid solar solutions to households and businesses in underserved markets. The company offers investors in Germany and Austria the opportunity to invest even small contributions in promising climate protection projects in Europe, especially in developing and emerging countries.CEI Africa was established by KfW on behalf of the German Federal Ministry for Economic Cooperation and Development in 2021 to improve access to energy for rural households and enterprises in Sub-Saharan Africa.