7 May 2024: The Africa Minigrid Developers Association (AMDA) and The Congolese Association for Renewable and Decentralized Energies (ACERD asbl) have announced a collaboration that seeks to bridge the energy access gap via minigrids and decentralized utilities in the Democratic Republic of the Congo.

AMDA and ACERD asbl are expected to work jointly towards ensuring development, financing, and rapid deployment of minigrids to electrify the rural unserved and underserved areas in the DRC. Specifically, the organizations are seeking to advocate and promote the development of policies, regulations, standards, and guidelines that benefit and support the scale of the minigrid sector.

The collaboration seeks to facilitate in-depth research that highlights opportunities and key barriers in project implementation, with the goal of sharing knowledge, data, and information related to minigrid electrification, including data on energy demand and infrastructure requirements, and disseminating information to stakeholders, policymakers, and the public.

“AMDA is delighted to work with ACERD asbl to advocate for optimal policy and regulatory framework that will benefit the minigrid sector and the people it serves.” said Olamide Niyi-Afuye, the CEO of AMDA. “We will work with all stakeholders to unlock the right mix of financing to scale the minigrid sector in the DRC and standardize metrics to measure sector progress and make informed decisions through evidence and research.”

“ACERD asbl is thrilled to have AMDA as a rightful partner for the benefit of the DRC minigrid regulatory and policy framework. To be acknowledged in a partnership with AMDA shows how important it is to secure diligently the pathway for the emergence of minigrid and the development of the energy sector in the DRC,” said Catherine Mukobo, CEO of ACERD asbl.

The Democratic Republic of the Congo is home to 99 million people. The electricity sector is characterized by low electrification rates, with only about 20.8 percent of the DRC’s population having access to electricity in 2020 according to World Bank data, underscoring the urgent need for increased electricity generation and distribution to expand access toward universal electrification. Most of the country is not covered by the national grid and will likely remain so for the foreseeable future, due to the size of the country, the grid’s limited reach and limited investments in transmission.

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About AMDA: The Africa Minigrid Developers Association (AMDA) is an industry association created by private sector minigrid developers and development partners interested in improving political and financial environments for minigrid companies in Africa. AMDA serves as the consolidated voice for minigrid developers to accelerate their pathway to scale and sustainability towards achieving universal access to sustainable, reliable, affordable, and modern energy in Africa. To date, AMDA has 43 member companies operating in 22 countries in Africa. For more information, visit: africamda.org.

6 May 2024: Bricsa Consulting proudly presents the 6th Edition of the PowerTech Africa Conference scheduled on June 10th and 11th, 2024, at Four Points by Sheraton, Dar es Salaam, Tanzania. Esteemed speakers include representatives from Tanzania Geothermal Development Company (TGDC), Ministry of Energy and Petroleum - Kenya, Ethiopian Electric Power (EEP), Ministry of Water and Energy - Ethiopia, and more.

Join industry leaders, policymakers, and experts for insightful discussions on renewable energy, grid modernization, and policy frameworks. Key discussions of the conference are:

• Identifying the potential of renewable sources in the Sub-Saharan Africa Regions - Wind, Solar, Geothermal & Hydropower;
• Implementation of Smart Grid/Off-Grid technology projects using renewable energy for a better and reliable power transmission;
• Sources of capitalizing renewable power projects & exploring Foreign Direct Investment policies for better project implementation;
• Hybrid Energy System: Spurting opportunities for the energy market in Africa.

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For more details, visit: https://pta.bricsaconsulting.com/.

For media and endorsement inquiries: This email address is being protected from spambots. You need JavaScript enabled to view it..

• The A2E Fund is once again making one million euros available to support projects that contribute to energy inclusion in disadvantaged communities in Africa. The application phase for this 6th edition runs until 29 May.<

29 April 2024: EDP is launching another edition of the A2E (Access to Energy) CSR Fund this week, through which it selects and finances the best projects for access to renewable energy in communities in African countries. Organisations interested in presenting projects that contribute to the promotion of clean energy and energy inclusion can apply from this Monday, April 29, until the end of May.

With a total budget of one million euros, the A2E Fund aims to finance projects in five countries – Mozambique, Nigeria, Malawi, Kenya and Rwanda – where there are still high levels of energy exclusion. EDP thus aims to support sustainable energy solutions that contribute to a just and inclusive transition in communities in the most isolated and vulnerable regions.

After five editions and 3.5 million euros in funding, the 38 projects supported by the A2E CSR Fund have already directly and indirectly benefited the lives of almost 3 million people in seven African countries. This support is particularly important in Africa, which is estimated to represent more than 80% of the world’s population still without access to electricity.

“In building a fairer and more sustainable future, every investment counts. By renewing our support for clean energy access projects in the most vulnerable and isolated communities, through this new edition of the A2E Fund, we are not just financing energy projects – we are promoting change with a positive impact,” explains Vera Pinto Pereira, executive board member of EDP and president of the EDP Foundation. “This is our commitment and a vote of confidence in those who, like us, work with the ambition of providing a fair, inclusive energy transition in which everyone can have the opportunity to change their lives.”

As in previous editions, the A2E Fund is once again focusing on five priority areas – education, health, water, community and business – and values assessment criteria such as social impact, partnerships, sustainability, potential for expansion or technical and financial viability. The projects to be funded may involve solutions that, for example, bring electricity and drinking water to schools and medical centres, power irrigation systems for agricultural fields and refrigeration equipment for small businesses, or support the work of artisans.

Despite the differences, all these projects share the same ambition and positive impact: to improve the quality of life of these small communities and boost their social, economic and environmental progress. Thus, EDP is continuing the programme started in 2018 to support clean and sustainable energy projects in emerging countries. This is one of the focuses of the group’s social impact programme, EDP Y.E.S. – You Empower Society, which helps bring energy to those who don’t have it.

The projects selected in the last five editions of the fund can be consulted in the Access to Energy area on EDP’s website.

In this new edition, entities will be able to apply for financial support of between 50,000 and 150,000 euros for each project – the fund guarantees up to 75% of the actual total costs of the project (in the case of non-profit organisations) and up to 50% of the costs for other for-profit entities. Applications can be submitted until 29 May, followed by an evaluation and pre-selection phase in the following months. The selection of the winning projects will be announced in the last quarter of this year.

The regulations and application form for the 6th edition of the A2E Fund can be found here.

25 April 2024: A leading provider of distributed infrastructure solutions, proudly announces its latest milestone: expanding renewable energy access in Nigeria, Senegal, Burkina Faso, and Cameroon through the strategic acquisition of Oolu, a prominent provider of Distributed Renewable Energy (DRE) solutions in West Africa. The strategic move marks Ignite Power’s foray into the vibrant West African market, where it aims to replicate the success it achieved across multiple countries in East and Southern Africa, positively impacting millions of lives and paving the way for a brighter, more sustainable, and inclusive future.

“We are excited to welcome the Oolu team to the Ignite Power family”, stated Yariv Cohen, Ignite Power CEO. “Oolu has built a solid business infrastructure for expansion and growth across the region. With Ignite’s proven technologies for last-mile operations, advanced SOPs, strong financial positioning, and after leading the industry across multiple markets, we are confident that we can substantially expand the impact and footprint across the wider West African region.”

In Kenya, where Ignite Power completed two strategic acquisitions last year, the company’s impact has been nothing short of revolutionary. By seamlessly integrating operations and deploying its cutting-edge technologies, Ignite’s newly acquired companies have quadrupled sales, and cut the market price by 35% in the span of 4 months, setting a new standard for excellence and affordability in the country’s distributed renewable energy sector.

Now, with the acquisition of Oolu, Ignite embarks on another chapter in its journey toward sustainable development. Oolu, a graduate of the renowned Y Combinator accelerator and a trusted provider of solar-based solutions across Nigeria, Senegal, Burkina Faso, and Cameroon, provided clean and affordable energy access to over 800,000 people through a diverse range of DRE systems, including solar home systems, productive use of energy (PUE) solutions, and commercial and industrial (C&I) projects.

“Joining the Ignite family presents a remarkable opportunity to blend oolu’s strong operational presence across West Africa with Ignite’s proven expertise and advanced technologies”, said Dan Rosa, Co-founder and CEO of Oolu. “Together, we can tap into vast opportunities, enhance our reach, and substantially increase our impact on communities across the region.”

Through this acquisition, Ignite Power also strategically enters the C&I sector, capitalizing on Oolu’s successful deployment of 3 MW across various projects and a growing portfolio of new solar projects across Nigeria. According to Vincenzo Capogna, Oolu’s CTO, “West Africa offers a wealth of potential for solar-based solutions, from last mile and residential customers to large commercial and industrial sectors. We are enthusiastic about leveraging these opportunities with Ignite to drive growth and resilience across the solar landscape.”

As the shift towards sustainable energy solutions continues, the potential for distributed solar energy in West Africa, and particularly in Nigeria, shines brighter than ever. With a rapidly expanding population and an increasing demand for reliable electricity, the Total Addressable Market (TAM) for distributed solar energy solutions in the region is vast and promising, reaching 100 million people, effectively doubling Ignite’s current addressable market.

Nigeria, being one of the largest economies in Africa, stands at the forefront of this energy revolution. With over 80 million people lacking access to reliable electricity, distributed solar energy solutions present a compelling alternative. The TAM for these solutions encompasses a wide range of sectors, including residential, commercial, and industrial; In rural areas where grid access is limited or non-existent, distributed solar energy systems offer a lifeline, powering homes, schools, and healthcare facilities. Approximately 60% of Nigeria’s rural population lacks access to electricity, representing a substantial market for off-grid solar solutions. Furthermore, in urban centers plagued by frequent power outages and unreliable grid connections, businesses are turning to solar to ensure uninterrupted operations and reduce operational costs.

The latest government decision to remove subsidies for fuel and diesel in Nigeria has further amplified the appeal of solar energy. With fuel and diesel prices increasing, businesses and households are seeking alternative energy sources to mitigate escalating energy costs. This policy shift creates vast opportunities for the solar sector to provide affordable and sustainable energy solutions across the country. Leveraging Oolu’s established operations, bolstered by Ignite’s support and expertise, the company is strategically positioned to capitalize on this burgeoning opportunity.

With extensive experience in operating under Results-Based-Financing (RBF) programs supported by the World Bank and other leading financiers, Ignite is well-positioned to deepen partnerships across West Africa. The World Bank’s commitment to bolstering rural electrification efforts, particularly in Nigeria, is evident through initiatives like the Distributed Access through Renewable Energy Scale-up (DARES) project announced in December 2023, which has a substantial budget of $750 million and aims to provide electricity access to 17.5 million people through distributed renewable energy solutions. Last week, the World Bank’s President Ajay Banga announced that the Bank will bring electricity to 250 million Africans, a major increase from its December pledge of $5 billion to connect 100 million people in Africa to power by 2030. This increased commitment aligns closely with Ignite Power’s mission to bring sustainable energy solutions to underserved communities, mirroring its successful participation in RBF programs in Mozambique, Kenya and Rwanda.

Ignite Power stands at the forefront of the distributed and renewable energy revolution, armed with a proven track record of impact, efficiency, and innovation. After positively impacting 2.5 million lives, saving more than 600,000 tonnes of GHG emissions, creating 3,500 jobs, and winning multiple industry awards, including the prestigious 2023 Zayed Prize, Ignite catalyzed economic growth and social and environmental impact at scale.

“With the acquisition of Oolu, we are one step closer to realizing our vision of a world powered by clean, sustainable, and distributed energy,” says Cohen. “Together, we will continue to defy the odds and illuminate the path to a brighter, more prosperous, and cleaner future for all.”

• ENGIE Energy Access has inaugurated today its first mini-grid in Dohouè, a village in the South of Benin. The Dohouè MySol Grid, powered by 135 kWp of solar panels and supported by 130 kWh of Lithium-ion batteries, connects over 1,500 residents and businesses to sustainable energy solutions.

11 April 2024: ENGIE Energy Access has inaugurated today its first mini-grid in Dohouè, a village in the South of Benin.

The Dohouè MySol Grid, powered by 135 kWp of solar panels and supported by 130 kWh of Lithium-ion batteries, connects over 1,500 residents and businesses to sustainable energy solutions. In partnership with the Beninese Agency for Rural Electrification and Energy Management (ABERME), ENGIE Energy Access has secured a 20-year license agreement, underlining its commitment to long-term, impactful development. This electrification milestone promises enhanced economic prospects for the local community, providing access to income-generating activities and fostering financial inclusion.

Gillian-Alexandre Huart, CEO of ENGIE Energy Access commented: “Our comprehensive offering across solar home systems and mini-grids in Benin enables a cost-effective and adaptable multi-technological approach. Therefore, we can meet the various urgent needs of residential, communal, and productive users living outside the national grid.” He added. “We are committed to making clean energy technologies accessible to low-income households, promoting inclusivity and empowerment within each member of the communities we serve.”

Christelle Agossou, Country Director of ENGIE Energy Access Benin, affirmed the company’s forward-looking vision, stating, “Looking towards the future, ENGIE Energy Access is constructing and will operate 20 additional mini-grids across the country.” These mini-grids, co-financed by the Millennium Challenge Account – Benin II programme as part of the Off-grid Clean Energy Facility (OCEF), will collectively deliver 1.2 MW of installed capacity, illuminating the lives of more than 30,000 people across 20 rural localities.”

This project will accelerate energy access solutions in Benin where ENGIE Energy Access is bringing light and sustainable electricity to already more than 1,500,000 people.

ENGIE Energy Access BENIN currently has over 200 employees, 1000 independent sales agents, and more than 100 points of presence across the country, dedicated to providing exceptional customer experience with high-quality products and services.

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About ENGIE Energy Access: ENGIE Energy Access is the leading Pay-As-You-Go (PAYGO) and mini-grids solutions provider in Africa. The company develops innovative, off-grid solar solutions for homes, public services and businesses, enabling customers and distribution partners access to clean, affordable energy. The PAYGO solar home systems are financed through affordable instalments and the mini-grids foster economic development by enabling electrical productive use and triggering business opportunities for entrepreneurs in rural communities. With over 1,800 employees, operations in nine countries across Africa (Benin, Côte d’Ivoire, Kenya, Mozambique, Nigeria, Rwanda, Tanzania, Uganda and Zambia), 2.5 million customers and more than 12.5 million lives impacted so far, ENGIE Energy Access aims to impact 20 million lives across Africa by 2025.

9 April 2024: SunCulture, a leading provider of solar-powered irrigation solutions and agricultural technology to smallholder farmers, is thrilled to announce the successful close of its $27.5 million Series B funding round. The oversubscribed round marks a significant milestone in the company's mission to revolutionize sustainable farming practices across the globe.

The Series B funding round attracted a diverse group of international investors—Reed Hastings, InfraCo Africa Limited, Acumen Fund, The Schmidt Family Foundation, and others, and follow-on investment from EDF Group, Equator, and the Acumen Resilience Agriculture Fund (ARAF)—signaling strong confidence in SunCulture's innovative approach to addressing the critical challenges faced by smallholder farmers, especially in emerging markets. The investment will fuel SunCulture's continued growth, enabling the expansion of its product line, entry into new markets, and further development of its technology platform designed to increase smallholder farmer productivity and resilience to climate change.

"Today marks a pivotal moment for SunCulture, our dedicated team, and the farmers we serve," said Samir Ibrahim, CEO and Co-Founder of SunCulture. "This investment is a testament to the hard work and dedication of our team, and it reinforces our mission to make farming more profitable, sustainable, and environmentally friendly. With this new funding, we are set to accelerate our impact, bringing our life-changing technology to even more farmers around the world.

SunCulture's solar-powered water pumps and irrigation systems have been transformative for smallholder farmers, enabling access to water, reducing labor costs, and increasing crop yields.

The Series B funds will be instrumental in scaling SunCulture's operations, enhancing its technology offerings, and supporting its strategic expansion plans. The company is poised to enter new markets in Sub-Saharan Africa and beyond, bringing its sustainable agricultural solutions to more farmers in need.

"This oversubscribed funding round is a clear indication of the market's confidence in SunCulture, our vision, and our impact on the ground," said Andrew Reicher, Chairman of SunCulture. "We are grateful for the support of our new and existing investors, and we look forward to leveraging these resources to drive further innovation and growth."

As SunCulture continues on its path of rapid growth and expansion, it remains committed to its core mission of improving the livelihoods of smallholder farmers through life-changing technology.

Ekta Partners acted as the exclusive financial advisor for this transaction, building on the team’s track record in raising capital for tech companies driving positive change.

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About SunCulture: SunCulture helps smallholder farmers grow more food with climate technology, financing, and a digital marketplace. The company has >50% market share for smallholder farmer solar irrigation systems in Sub-Saharan Africa. Selected by the World Economic Forum as a Technology Pioneer in 2023 and by Fast Company as one of the World’s Most Innovative Companies in 2021. For more information, visit: www.sunculture.com.

25 March 2024: The Africa Minigrid Developers Association (AMDA) and Energy Peace Partners (EPP) are pleased to announce today a new collaboration to expand access to investment for renewable energy minigrids that benefit under-electrified and unelectrified communities across Africa.

The AMDA-EPP collaboration seeks to increase the visibility of AMDA members and the renewable energy projects they aspire to develop among multinational corporations and the wider global climate community. The collaboration focuses on expanding the African market for International Renewable Energy Certificates (I-RECs), including Peace Renewable Energy Credits (P-RECs). P-RECs serve as a quality label for qualifying high-impact I-REC projects in fragile, energy poor countries that deliver significant social and economic benefits to local communities.

More specifically, AMDA and EPP are collaborating to produce new initiatives that help expand incentives for corporations with environmental and social impact goals to support AMDA members’ projects, expand the number of countries with voluntary clean energy markets to attract corporate buyers, and create new educational resources and market insights for AMDA members.

“AMDA is committed to working with all stakeholders to meet critical climate goals through expanding access to clean energy and advocating for an enabling environment to attract investments into renewable energy minigrids,” said Olamide Niyi-Afuye, the CEO of AMDA. “This collaboration wouldn’t have come at a better time to help us deliver on member value for our member companies across Africa.”

“This collaboration with AMDA is critical for EPP efforts to support new renewable energy minigrid projects in Africa and expand the pipeline of P-REC projects to meet growing demand among corporate buyers for clean energy projects that also deliver meaningful social impact,” said David Mozersky, President of EPP. “We are excited to work with AMDA and the wider AMDA member community to advance renewable energy as a building block for peace and development across the continent.”

By cultivating the market and incentives for corporate buyers for I-RECs and especially P-RECs in Africa, AMDA and EPP will help increase the revenue that AMDA members can secure from new renewable energy projects, accelerating and enhancing financing terms and expanding access to carbon-free electricity to more under-electrified and unelectrified communities.

Renewable energy investment continues to increase around the world as policymakers, companies, investors, and nonprofit stakeholders work together to address the climate finance gap and more than triple annual investment in renewable energy to make the 1.5°C target possible. However, these investments continue to overlook the world’s most under-electrified and unelectrified communities, perpetuating climate equity issues in the world’s most fragile countries. To date, communities across Africa have secured only 2% of the $3 trillion invested globally in renewables.

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About AMDA: The Africa Minigrid Developers Association (AMDA) is an industry association created by private sector minigrid developers and development partners interested in improving political and financial environments for minigrid companies in Africa. AMDA serves as the consolidated voice for minigrid developers to accelerate their pathway to scale and sustainability towards achieving universal access to sustainable, reliable, affordable, and modern energy in Africa. To date, AMDA has 43 member companies operating in 22 countries in Africa. For more information, visit: africamda.org.

About EPP: Energy Peace Partners (EPP) is a nonprofit organization that develops innovative climate and finance solutions to promote greater resilience and peace in fragile, climate vulnerable, and energy poor countries, primarily in sub-Saharan Africa. Our team offers world class expertise in peace building, renewable energy, and climate security. EPP developed the novel “Peace Renewable Energy Credit” (P-REC) to provide catalytic funding for new renewable mini-grids plus linked community projects through corporate renewable energy procurement. For more information, visit: www.energypeacepartners.com.

21 March 2024: At the Transforming Energy Access (TEA) Forum in Kigali, Rwanda this week, CLASP was announced as the new host and manager of the Energy Access Institutions Facility, an initiative that seeks to provide core funding and technical assistance to organizations who accelerate access to life-changing, off-grid energy to millions of people around the world.

Over the next five years, the Facility’s vision is to deploy $25 million USD to a portfolio of five to ten impactful organizations, known as “market institutions”, that are working to grow the distributed renewable energy (DRE) sector. DRE systems are stand-alone, off-grid energy solutions that generate and distribute renewable energy without needing to be connected to the main grid. Expanding this sector has the potential to transform lives and livelihoods by increasing incomes, empowering women, enhancing educational opportunities, improving healthcare, reducing food waste, avoiding greenhouse gas emissions, and much more.

The Facility’s growing portfolio of organizations is expected to have reach across several countries in sub-Saharan Africa and South Asia, potentially increasing the delivery of renewable off-grid energy to millions of people from low-income communities.

Market institutions that support the following will be eligible to apply to the Energy Access Institutions Facility:

• Clean cooking solutions;
• Energy efficient appliances and equipment;
• Productive Use of Energy;
• Standalone solar systems;
• Micro grids and mini grids.

This Facility is a result of multiple years of funding and commitment by the UK’s Foreign, Commonwealth and Development Office (FCDO) and the UK charity Shell Foundation (SF), and two years of incubation and development managed by Open Capital. FCDO and SF provided $5.5 million USD in seed funding to the first tranche of market institutions to prove this concept.

In the Facility’s first year, five market institutions, including the Africa Minigrid Developers Association (AMDA), Ethiopia Energy Market Accelerator (EMA), GOGLA, Nigeria Off-Grid Market Accelerator Programme (NOMAP), and the Uganda Off-Grid Market Accelerator, were the first grantees.

The Swedish International Development Cooperation Agency (Sida) has recently announced its commitment to providing approximately $4.5 million USD in funding for this next phase led by CLASP. This support will enable the Facility to disperse further funding to another round of market institutions and accelerate the Facility’s growth. In the coming months, CLASP is committed to securing additional funding from donors who have already indicated an interest in this impactful initiative.

Anders Arvidson, Senior Advisor and Team Lead in Sida’s Power Africa Team, noted:

“The Facility’s vision of accelerating access to clean energy for the world’s lowest-income people strategically aligns with Sida’s mission to reduce poverty around the world by partnering with the private sector in support of market development and mobilization of capital. We are proud to offer our support to take this initiative to its next phase, and to accelerate necessary growth in the clean energy sector. We look forward to working closely with CLASP to realize this vision.”

CLASP was selected because of the organization’s 25-year tenure as the leading, global organization advancing affordable, efficient appliances to mitigate climate change and help communities adapt and thrive. CLASP has proven expertise managing similar programs, including serving as the co-secretariat of the Efficiency for Access Coalition, an initiative supporting off-grid appliance market research and innovation; and as Operating Agent for the Super-efficient Appliance and Equipment Deployment (SEAD), a $20 million initiative under the Clean Energy Ministerial. CLASP also manages the Productive Use Financing Facility, a $6.5 million financing facility to catalyze the uptake of productive use appliances across East, West and Central Africa.

Christine Egan, CEO at CLASP, reflected on how the Energy Access Institutions Facility would push for real impact in the sector:

“The Energy Access Institutions Facility is positioned to impact and enhance millions of lives at a critical moment for sustainable development and global climate ambition. Exponentially increasing the number of people using off-grid, renewable energy and appliances will be a livelihood game changer in regions where access to traditional grid electricity is insufficient or non-existent. CLASP is committed to serving the sector and partnering with essential energy access institutions to deliver and scale collective impacts.”

In the coming months, CLASP will communicate opportunities for involvement and next steps for market-enabling organizations who are interested in participating, as well as donors who are interested in further supporting the Facility.

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About the Facility: The Energy Access Institutions Facility is a joint donor initiative that provides funding and technical support to organizations known as market institutions to overcome barriers and scale the distributed renewable energy (DRE) sector, to accelerate universal access to affordable, clean, and modern energy (Sustainable Development Goal 7). The Facility is managed by CLASP, with initial contributions from Shell Foundation and FCDO, and a current contribution from Sida. For more information, visit: www.clasp.ngo/institutions-facility.

About CLASP: CLASP is the leading global authority with 25 years’ expertise on how appliance efficiency drives climate mitigation, adaptation and improves the lives and livelihoods of people. An international nonprofit with offices on four continents, CLASP collaborates with policymakers, appliance manufacturers, and leading experts to deliver sound policy recommendations, innovative tools, groundbreaking research, and clear pathways to a more sustainable world for people and the planet. For more information, visit: www.clasp.ngo.

20 March 2024: Climate and impact fund manager Camco has unveiled a new technical assistance facility (TAF) to accelerate the growth of Sub-Saharan African markets for renewable energy and energy access.

Camco is developing the USD 250m REPP 2 fund to invest in the African grid of the future and the small and medium-sized enterprises (SMEs) building it. The private debt fund is structured as a blended finance vehicle to leverage public, private and commercial funding to invest in small-scale and decentralised renewable energy projects in Sub-Saharan Africa, with a particular focus on supporting Least Developed Countries.

The new accelerator will play a critical role in achieving REPP 2’s goal of delivering significant climate, economic and gender impacts while ensuring sustainable returns for investors by addressing both the financial and non-financial barriers that are currently impairing project development and slowing down investments.

REPP 2’s dedicated TAF is part of a new market development focus by Camco that complements its investment activities to deliver broader transformational impacts.

The REPP 2 TAF is launched with support from the Norwegian Agency for Development Cooperation (Norad) – a cornerstone funder, who has committed USD 5m to the facility’s USD 10m target.

The REPP 2 TAF has three pillars:

Pillar 1: SME growth and project development support: Early-stage project preparation funding to de-risk project development and capacity building activities to make the sector more inclusive and accelerate growth. This is expected to lead to more skilled and experienced local SMEs and project developers.

Pillar 2: Gender equity: Targeted support to earlier-stage female entrepreneurs who are not yet ready for REPP 2 financing and SMEs that offer products or services specifically designed to address the needs of female customers. This supports REPP 2’s comprehensive strategy for achieving 2X alignment.

Pillar 3: Enabling environment and knowledge mobilisation: Targeted advocacy initiatives, strengthened public-private dialogue and knowledge sharing to improve the enabling environment for renewable energy development and investment.

Ieva Indriunaite, Policy and Partnerships Manager, leading the market development work at Camco, said: “The support the REPP 2 TAF will provide is critical to the scaling up of companies in this sector and thereby developing a vibrant renewable energy market in Sub-Saharan Africa.

“Norad understands everything we want to achieve through REPP 2 and the critical role of the TAF in supporting SMEs and the just development of the decentralised renewable energy sector in Africa. We are extremely thankful for its catalytic funding.”

Halvor Heggenes, Senior Advisor at Norad, said: “REPP 2 is an important part of Norad’s efforts to attract more commercial investments to renewable energy development in Africa. One of the big gaps that we work to close is the number of companies and projects that are considered investable by private financiers, and this is precisely what the technical assistance facility will address. We are excited to work with Camco to ultimately increase energy generation and access on the ground in Africa.”

Over its lifetime, REPP 2 aims to develop 330MW of new capacity, resulting in over 12.7 million tCO2e emission reductions. This will provide clean energy access to more than 7.7 million people and enhance the resilience of about one million beneficiaries.

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About REPP 2: REPP 2 is a private debt fund designed and managed by Camco that focuses on the energy transition in Sub-Saharan Africa. It is structured as a blended finance facility to ensure an appropriate risk-adjusted return to investors and aims to deliver significant climate, environmental, economic and gender impacts through the financing of small and medium-scale renewable energy assets.

REPP 2 builds on the legacy of the USD 120m Renewable Energy Performance Platform (REPP), which is managed by Camco and fully funded by the UK’s Foreign, Commonwealth and Development Office (FCDO). In October 2023, the Board of the Green Climate Fund (GCF) approved the allocation of USD 50m in junior equity to REPP 2. This followed the signing of an indicative term sheet by REPP for an additional junior equity investment of up to USD 50m from REPP into REPP 2. For more information, visit: www.camco.fm/repp-2.

About Camco: Camco is a specialist climate and impact fund manager, leading the transition in emerging markets. We offer clean, secure investments, pairing the conscience of a development bank with the agility of a private company. Camco is an Accredited Entity of the Green Climate Fund and is authorised and regulated by the UK Financial Conduct Authority. The company has offices in Auckland, Helsinki, Johannesburg, London, Nairobi, Sydney and Toronto. For more information, visit: www.camco.fm.

About Norad: Norad – the Norwegian Agency for Development Cooperation – is a professional development agency under the Ministry of Foreign Affairs (MFA). Together with our partners and on behalf of Norway, Norad strives for a greener future in a world without poverty. Human rights must be respected, and no one left behind. By way of knowledge and cooperation, we ensure that the funds of Norwegian development aid contribute to sustainable global development. For more information, visit: www.norad.no/en/front.

13 March 2024: A positive step for global efforts to replace fossil fuel-powered generators with renewable energy-based alternatives was made today at the Transforming Energy Access Forum 2024 in Kigali, with funding announced for projects to bring better access to renewable energy products in Africa, South Asia, and the Pacific Islands, as part of the Zero Emission Generators (ZE-Gen) initiative.

ZE-Gen is pleased to announce its collaboration with the Green Genset Facility (GGF), a spin-off from the Access to Energy Institute. ZE-Gen’s investment of £250,000 into the GGF aligns with its commitment to supporting sustainable energy initiatives that will replace fossil-fuelled generators. This contribution underscores ZE-Gen’s ongoing efforts to promote innovation in renewable energy alongside existing funders BGFA, DOEN Foundation, Good Energies Foundation, IKEA Foundation, NEFCO and Sida.

The GGF aims to make it simple and transparent for distributors to buy solar-powered generators, accelerating a move away from fossil fuel alternatives. The facility, supported by Open Capital Advisors, will address the lack of accessible and affordable working capital — seen as the biggest obstacle that distributors face in procuring solar generators from suppliers.

Through digital tracking of repayment and usage patterns, the facility will make it easier to buy stock to serve customers and grow distributors’ businesses, with the aim of improving livelihoods and reducing emissions and pollution in Africa. In a market due to exceed $20 billion in Nigeria alone, the facility will focus on unlocking the market for solar powered generators with the aim of raising $100 million in funding.

In addition, two innovative projects were announced as the winners of the ZE-Gen Demonstrator — a £2 million funding competition to evidence the capability, applicability, and scalability of integrated renewable alternatives to fossil-fuelled generators.

An expandable, solar generator for Nigerian businesses from off-grid renewable developer BioLite was chosen as one of the projects to receive the ZE-Gen Demonstrator funding. Building on BioLite’s deep technical expertise in solar generators the company will develop EverPower, an expandable, zero-emissions solar generator, to replace fossil fuel generators to meet the energy needs of weak grid or off-grid Nigerian SMEs.

A project in Côte d’Ivoire and Fiji for wind-generator technologies to charge approximately 400 e-mobility batteries a day for electric motorbikes, scooters, small boat outboards and drones was the other winner announced today. Led by British e-mobility charge-point developer Aegis Energy, the Zephattan project will showcase the readiness for wind powered generators to meet remote and off-grid African and Pacific Island Country electricity needs. With the potential to save around 500-tonnes of CO2-equivalent emissions in six-months of field testing, the project is a collaboration with Abidjan-based local gender and social inclusion programming specialist and community-wind entrepreneur KOC Bridges to Peace, and Suva-based renewables development finance specialist Leaf Capital.

Dr James Coombs Obrien, Innovation Lead – Energy at Innovate UK said:

“We are delighted to announce these interventions at the Transforming Energy Access Forum, as part of ZE-Gen’s holistic approach to displacing fossil-fuelled generators.

“The Green Genset Facility and the winners of the ZE-Gen Demonstrator will drive forward the renewable energy-based generator landscape in Africa, South-Asia and the Pacific Islands, tackling the barriers to meet the growing market — and need — for renewable-based solutions. This supports ZE-Gen’s mission to enable the replacement of millions of polluting and expensive fossil-fuelled generators by accelerating the transition to renewable energy-based alternatives.”

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About ZE-Gen: ZE-Gen is a collaborative initiative by the Carbon Trust and Innovate UK, with support from the IKEA Foundation and UK aid through the UK Government’s Ayrton Fund, via the Transforming Energy Access (TEA) platform.

Launched at COP27 with an initial commitment of over £15 million and an ambition to scale to £100 million, ZE-Gen is designed to tackle barriers, accelerate innovation and fund activities to build a thriving, competitive market for renewable alternatives to fossil-fuelled generators.

Additional funding for the ZE-Gen Demonstrator Competition is being provided by the UK Department for Science Innovation and Technology (DSIT) and the Foreign Commonwealth and Development office (FCDO).

The Green Genset Facility is made possible with funding from FCDO, DOEN, Good Energies, and IKEA Foundation, and is delivered by the Access to Energy Institute with support from Open Capital. For more information, visit: www.ze-gen.org.

About Carbon Trust: The Carbon Trust is a global climate consultancy driven by the mission to accelerate the move to a decarbonised future. We have been climate pioneers for over 20 years, partnering with businesses, governments and financial institutions to drive positive climate action. From strategic planning and target setting to activation and communication – we turn ambition into impact. To date, our 400 experts have helped set 200+ science-based targets and guided 3,000+ organisations and cities across five continents on their route to Net Zero.

About Innovate UK: Innovate UK is part of UK Research and Innovation, a non-departmental public body funded by a grant-in-aid from the UK government. For more information, visit the UK Research and Innovation website. We drive productivity and economic growth by supporting businesses to develop and realise the potential of new ideas, including those from the UK’s world-class research base. For more information, visit: www.gov.uk.

About Ayrton Fund: The UK Government announced the Ayrton Fund commitment of up to £1bn for clean energy innovation at the UN Climate Action Summit in 2019. It is part of the wider £11.6bn of UK International Climate Finance committed between 2021 and 2026. The vision of the Ayrton Fund is to help drive forward the clean energy transition in developing countries, by creating and demonstrating new technologies and business models to deploy them. It will demonstrate UK leadership and expertise in cutting global emissions through world-leading innovations. The Foreign, Commonwealth & Development Office (FCDO), the Department for Energy Security and Net Zero (DESNZ) and the Department for Science, Innovation and Technology (DSIT) jointly manage the Ayrton Fund.

6 March 2024: Improving battery recycling in Nigeria, raising labour and environmental standards, and establishing sustainable trade flows for raw materials – these are the declared aims of the new project Partnership for Responsible Battery and Metal Recycling. In this new project, partners from Nigerian civil society, the metal processing industry and the solar industry are working together with the Oeko-Institut to develop a cooperative approach to the responsible recycling of lead-acid batteries. To this end, the project is liaising closely with the Nigerian Federal Ministry of Environment and the environmental enforcement agency, Nigeria Standards and Regulations Enforcement Agency (NESREA).

“As the largest economy and most populous country in Africa, Nigeria is also central to battery recycling. Nowhere else on the African continent is the volume of used batteries as high,” emphasizes Frederick Adjei, researcher on Circular Economy and Recycling at the Oeko-Institut. “At the same time, the expansion of decentralised solar power solutions is leading to an increase in demand for batteries, all of which will have to be recycled properly at some point”.

In view of the serious health and environmental risks posed by unsound recycling practices, the project supports industrial companies and regulatory authorities in Nigeria in introducing environmental, health and safety standards. The project is funded by the Federal Ministry for Economic Cooperation and Development (BMZ) and supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.

Modernising Nigeria’s recycling industry

Nigeria is home to one of the largest lead-acid battery recycling industries in Sub-Saharan Africa. At least ten facilities recycle batteries on an industrial scale, recovering raw materials such as lead, tin and antimony. These are mostly redeployed in battery production – either in Nigeria or abroad.

The aim of the joint project is to share experiences for the modernisation of the recycling sector in Nigeria. The partners are using a three-pronged approach: the Oeko-Institut and the industrial partners are providing knowledge on environmental protection and occupational safety for recycling plants and training plant managers to improve environmental performance and plant safety. In addition, the partners are developing concepts for how Nigerian regulatory authorities might introduce and monitor binding standards for environmental protection and occupational health and safety and implement them together with local companies. Last but not least, cooperation with other sectors is to be initiated, for example with the Nigerian solar industry, which requires environmentally sound solutions for used batteries. The German and international metals industry is as well highly interested in responsible supply chains for secondary raw materials.

“We have been monitoring the recycling of used batteries with great concern for many years and have already worked with the Nigerian government on a battery policy. We see this project as an important continuation and practical implementation of that work,” says Dr Leslie Adogame of the Nigerian organisation Sustainable Research and Action for Environmental Development (SRADev).

David Lecoque, CEO of the Alliance for Rural Electrification (ARE) adds a practical perspective: “Our member companies are actively involved in the expansion of decentralised renewable energy in Africa. They are aware of the challenges associated with battery disposal and are keen to scale up high quality local recycling solutions”.

Franziska Weber from Plattform Blei, an initiative of the WirtschaftsVereinigung Metalle, emphasises the benefits for the industry: “Our member companies and partners are dependent on the import of raw materials and recycling streams are playing an increasingly important role in this context. But of course, we have to pay particular attention to environmental and labour standards with all our suppliers. Without the implementation of appropriate standards, the German economy cannot enter into supply relationships with players in Nigeria.”

Lead-acid battery recycling – risks and opportunities for the circular economy

Lead-acid batteries are used in cars, off-grid solar applications and backup power systems. Environmentally sound and safe recycling is possible and can effectively recover up to 97 percent of all contained raw materials. However, in many regions of the world, recycling takes place in substandard, highly dangerous and unsafe conditions, exposing workers and neighbouring communities to toxic lead dust.

This lead exposure can have serious health effects, including irreversible nerve and brain damage particularly in children. According to UNICEF, up to 800 million children, especially in low- and middle-income countries, have elevated blood lead levels. In addition to the dramatic impact on the lives of those affected, there is also long-term economic damage, which is estimated at four percent of the gross domestic product in Sub-Saharan Africa.

4 March 2024: The Eastern and Southern African Trade and Development Bank Group (TDB Group), through the Trade and Development Fund (TDF), has extended a 3-year USD 2 million term loan to MPower Ventures Zambia Limited to improve access to modern and affordable energy solutions for household and productive use through the importation and retail of solar products to off grid communities in Zambia.

Through this transaction, MPower Zambia is set to increase its deployment range of plug and play household solar devices and market driven productive use assets such as freezers, sewing machines and water pumps to lower- and middle-income households, SMEs, and farmers in peri-urban and rural areas.

Gloria Mamba, Trade and Development Fund Executive Director and TDB Southern Africa Coverage Executive said, “We are pleased to extend this facility to MPower as it allows us to provide concessional financial solutions to SMEs which have traditionally struggled to attract adequate financing from the formal banking sector, yet spur change and transformation within our communities, bringing about green growth opportunities and sustainable development, which is what we desire to see across the region.”

Additionally, MPower Zambia will construct 50 new rural energy hubs. Using the energy hub model the company sets up hubs that allow communities to access energy for domestic and public purposes such as lighting health centres through last mile extension of power from the hubs to the nearest health facilities. The energy hubs are expected to create 30 direct and over 500 indirect jobs, thereby enhancing productivity and economic activity, and improving the livelihoods of communities that currently lack access to the electricity grid.

Prof. Oliver Saasa, Chairperson and Non-Executive Director of the Trade and Development Fund Board of Directors said that “The Rural Electrification Master Plan for Zambia aims to achieve a rural electrification rate of 51% by 2030. The Government is implementing a strategy to encourage private sector investment to bring in additional energy solutions such as solar to bridge the energy gap.”

Manuel Seiffe, CEO and Co-Founder of MPower, commented:

“We are immensely grateful for the support extended by the TDB Group through the Trade and Development Fund. This 3-year USD 2 million term loan marks significant progress for MPower as we strive to enhance access to clean, reliable and affordable energy solutions in Zambia. With this funding, we are better positioned to expand our reach and deploy household solar devices and market-driven productive assets to empower lower- and middle-income households, SMEs, and farmers in peri-urban and rural areas. Large parts of Zambia and Africa still suffer from non-existent or unreliable power supply. MPower allows for leapfrogging straight to solar energy and we are grateful for TDF’s support in achieving our mission.”

Michael Eschmann, COO and Co-Founder, and Greg Nau, CFO and Co-Founder, stressed “that the construction of 50 new rural energy hubs underscores our commitment to sustainable development, creating jobs, and improving livelihoods within communities that lack access to the electricity grid. Together with partners like the TDB Group, we are driving change and promoting green growth opportunities across the region.”

The facility was signed during a breakfast meeting at the Intercontinental, Lusaka in the presence of Noel Nkoma, Council of Ministers, Ministry of Finance and National Planning, Winza Muzyamba Mwauluka, Director – Project Implementation and Monitoring, State House, Subeta Mutelo, Permanent Secretary of Energy and SMEs, Johannes Hertlein, Country Director MPower Zambia and various CEOs, who deliberated during a panel session on opportunities for financing renewable energy in Zambia.

TDB Group is committed to supporting its member states achieve their national priorities by providing innovative financing solutions in critical sectors that promote sustainable development.

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About TDB Group: Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is an investment-grade African regional development finance group, with the mandate to finance and foster trade, regional economic integration and sustainable development. With an asset base of USD 10 bn, TDB Group has 25 African member states, which alongside non-regional member countries and institutional investors from Africa, Europe and Asia, form TDB’s community of shareholders.

The Trade and Development Fund is TDB Group’s concessional and grant window. Working with diverse partners, it provides innovative alternative financing solutions to clients in TDB Group member states including term loans, lines of credit, guarantees and grants. Its facilities are often blended with non-repayable technical assistance grants to address specific institutional and enterprise challenges.

TDF’s technical assistance initiatives comprise among others business linkages, project advisory and project development support across key sectors for public and private sector clients, including MSMEs. In addition to financing and technical assistance, TDF also offers program management services.

TDB Group counts several subsidiaries and strategic business units including the Trade and Development Bank (TDB), TDB Group Asset Management (TAM), the Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy. For more information, visit: www.tdbgroup.org.

About MPower Ventures Zambia Limited: MPower Ventures, a venture backed climate fintech and impact venture, is revolutionizing access to affordable solar solutions across Sub-Saharan Africa. With a steadfast commitment to clean energy and financial inclusion, MPower leverages an innovative B2B2C model to partner with local distributors to deliver high quality on-grid and off grid solar solutions. MPower caters to households, SMEs, small Commercial & Industrial (C&I) clients and the agricultural sector and has distributed over 40’000 units across 7 African countries to date.

MPower’s fusion of finance and technology enables the distribution of top-tier clean energy products. By partnering with financial institutions and corporate entities, the company ensures access to financing for end customers, reducing market and credit risks. For more information, visit: www.mpower.africa.

27 February 2024: The Common Market for Eastern and Southern Africa (COMESA) and the World Bank are set to implement a $50 million regional platform to support COMESA Member States and other participating countries to promote sustainable energy access investments.

This is part of a new World Bank $5 billion program designed to accelerate sustainable and clean energy access and provide life-transforming opportunities for 100 million people across countries in Eastern and Southern Africa over the next seven years.

The Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) program will be a game-changer in a region where only 48% of the overall population, and just 26% in rural areas, has access to electricity.

The new regional platform, under the supervision and implementation of COMESA, will support participating countries through various initiatives designed to fill the technical gaps identified in the energy sector, particularly with regards to project preparation, investment readiness, technical knowhow and energy access.

The platform will engage specialized firms and individuals to provide demand-led technical support in an agile manner to public and private sector entities from participating countries. The regional platform will also have a Digital Monitoring, Reporting and Verification (DMRV) platform which will act as central repository for information on new energy connections resulting from the ASCENT Program in the participating countries. The consolidation of data on the DMRV platform is expected to pave the way for the countries and their energy service providers to gain access to carbon finance through the amalgamation of the carbon credits resulting from clean energy connections.

“This is an African-owned and led platform to enhance project implementation and accelerate access to clean energy through the facilitation of knowledge exchange, project preparation, provision of advisory services and support for policy development in a timely manner,” said Chileshe Kapwepwe, Secretary General of COMESA. “This is essential for the region as availability of clean, reliable and affordable energy is needed to drive the social and economic development of the region, which is crucial for the trade development agenda of COMESA”. She urged member states to engage the secretariat on how they can be part of the initiative.

The objectives of the new platform and the wider ASCENT program are to provide reliable energy to increase productivity and job opportunities, expand access to information and technologies, improve health and reduce time spent on cooking chores, and boost resilience and services provided by electrified schools and health clinics. Women, who are often disproportionately burdened by the lack of energy access, will benefit the most.

“The World Bank is very pleased to partner with COMESA on the energy access agenda as a regional approach is required to meaningfully scale up energy access in a way that can transform economies in Eastern and Southern Africa. We look forward to supporting countries across the region with cutting edge knowledge, research, data, and technology to unleash a rapid expansion of energy access,” said Boutheina Guermazi, World Bank Director for Regional Integration in Africa and the Middle East.

Lack of energy access hinders the region’s economic recovery, resilience, and faster progress toward poverty reduction. It is also results in significant food spoilage owing to lack of refrigeration, particularly in countries already plagued with food insecurity, and plays a role in poor health outcomes given that less than half of all hospitals in the region have reliable electricity access.

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About COMESA: COMESA is a regional economic community established in 1994. It brings together 21 African Member States with a population of over 600 million people into a cooperative framework for sustainable economic growth and prosperity through regional integration. For more information, visit: www.comesa.int.

About the World Bank Group: The World Bank Group has a bold vision: to create a world free of poverty on a livable planet. In more than 100 countries, the World Bank Group provides financing, advice, and innovative solutions that improve lives by creating jobs, strengthening economic growth, and confronting the most urgent global development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries. It consists of the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). For more information, visit: www.worldbank.org.

21 February 2024: d.light, the global provider of transformational household products and affordable finance for low-income households, and Chapel Hill Denham, the largest alternatives asset manager in Nigeria, today announced the closing of a landmark USD$7.4 million (N10 billion) securitized financing facility.

The new financing will be provided by Chapel Hill Denham’s Nigeria Infrastructure Debt Fund and will be used to scale up d.light’s low-cost Pay-Go offering of affordable, solar-powered products targeted at low-income households.

The structure of the financing was set up and is sponsored by African Frontier Capital, who also acts as the master servicer and backup servicer in the transaction.

Commenting on the news, d.light CEO Nick Imudia said, “This landmark financing opens up access to our range of solar-powered household goods to more low-income families and households in Nigeria, in a way that is affordable for them and sustainable for our business.

“d.light has a track record of success in using securitized finance in other Sub-Saharan African countries as a flexible, scalable financing model for raising equity for off-grid solar that is guaranteed against current and future customer sales. We are now applying this experience in Nigeria as we scale up our operations there. In Chapel Hill Denham, we have a partner that is not only commercially astute but also equally dedicated to sustainable development.”

Bolaji Balogun, Chief Executive Officer of Chapel Hill Denham, also commented on the transaction, “This transaction signifies a pivotal stride in sustainable infrastructure investment in Nigeria, setting a transformative precedent for the renewable energy sector. By pioneering local currency securitization for the financing of solar home systems and essential solar-powered household utilities in Nigeria, Chapel Hill Denham is catalysing innovation in the renewable energy sector, advancing sustainable development, empowering communities, and reshaping Nigeria’s infrastructure landscape for a brighter, more sustainable future for all.”

“This is another significant milestone for Chapel Hill Denham and NIDF, with the first-ever at scale, local currency securitisation financing for Solar Home Systems and other solar-powered household goods in Nigeria,” added Anshul Rai, Partner: Infrastructure & Climate at Chapel Hill Denham. ”We continue to broaden the range of financing solutions available to infrastructure providers in Nigeria, with particular emphasis on solving the greatest sustainable development challenges facing Nigeria.”

Nigeria is Africa’s most populous country and its largest economy. Last year’s Energy Progress Report, compiled by the International Renewable Energy Agency, the International Energy Agency, the UN and the World Bank, identified Nigeria as the country with the largest number of people (c. 86 million) without access to electricity. Even those connected to the grid rarely receive a reliable supply.

In addition, nearly 80 percent of Nigeria’s electricity is currently provided by GHG-emitting thermal generation sources, necessitating rapid transition to clean and reliable energy sources. d.light and Chapel Hill Denham are committed to supporting this energy transition through innovative products and financing solutions.

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About d.light: Founded in 2007 in Stanford, California, d.light is a global leader in making transformative products available and affordable to low-income families. d.light has sold nearly 30 million products, including solar lanterns, solar home systems, TVs, radios, and smartphones, impacting the lives of over 150 million people. Our vision is to transform the lives of one billion people, in developing countries, with sustainable products by 2030. For more information, visit: dlight.com.

About Chapel Hill Denham: Chapel Hill Denham (CHD) is one of the most trusted names in African financial services and is the leading independent investment bank in Nigeria, a leading investment manager and the leader in alternatives asset management. The firm’s funds and strategy are primarily focused on areas accretive to Nigeria and Africa’s economic development including Infrastructure and Climate, Real Estate including Student Accommodation and Affordable Housing, Gender led SMEs, Venture, Creative, Healthcare and Education. CHD is a leader in financing of infrastructure and clean energy in Africa, with a solid track record of creating innovative, path-breaking investment and financing solutions. CHD seeks to lead Nigeria and Africa towards a more sustainable and prosperous future and through its funds and investment banking work, it aims to accelerate the continent’s energy transition journey.

About AFC: African Frontier Capital (Mauritius) LLC and its subsidiary companies are a dedicated impact investment group focused on bringing financial inclusion to people living at the bottom of the pyramid in a socially and environmentally sustainable way. For more information, visit: www.africanfrontiercapital.com.

20 February 2024: Ignite Power is set to revolutionize energy access in Kenya with the introduction of its new “Ignite Power Kenya” brand. As a leading provider of solar-based infrastructure solutions across Africa, the company’s strategic move into Kenya marks a significant moment in the country’s energy landscape. Ignite Power Kenya has ambitious plans to build on the over 2.5 million people connected across the SSA region, save over 2.5 million tonnes of GHG emissions across the country in the years to come, and disrupt Kenya’s energy access sector while creating an impact at a national scale.

Supported by leading initiatives like the Kenya Off-Grid Solar Access Project (KOSAP) and the Netherlands Enterprise Agency’s (RVO) SDG 7 Project, Ignite Power’s entry into the Kenyan market underscores a deep commitment to bridging the energy gap in rural communities across the SSA region. This commitment is further exemplified by the strategic acquisition and integration of Pawame and Mwezi Solar portfolios, consolidating Ignite Power’s position as a frontrunner in the clean energy sector.

Yariv Cohen, CEO of Ignite Power, expressed his enthusiasm for the venture. “After a year of meticulous planning and integration, we are thrilled to unveil the Ignite Power Kenya brand,” he remarked. “This marks a significant milestone in our journey, as we introduce our proven solutions to remote communities across Kenya under a unified identity.”

The timing of Ignite Power’s expansion couldn’t be more fit, given the World Bank’s recent announcement of a substantial $5 billion program to promote electrification in 20 African countries, with a specific $450 million allocation for Kenya, highlighting the global commitment to supporting rural electrification efforts. This injection of funds dovetails seamlessly with Ignite Power’s mission to democratize and scale clean energy access and the company’s vast experience in collaborating with the World Bank and other financiers on rural electrification projects, signaling a new era of collaboration and progress in Kenya’s energy sector.

However, challenges persist. Despite the declining costs of solar solutions in recent years, access to energy remains out of reach for millions living in rural communities, impeding development and progress. Ignite Power Kenya aims to address this disparity head-on by positioning itself as the most affordable provider of solar solutions in the country, making solar solutions accessible to millions for the first time. By offering competitive pricing and prioritizing inclusivity and accessibility, Ignite Power Kenya seeks to make access to electricity a reality for all.

“Access to electricity for the first time is a life-changing event,” Cohen emphasized. “Having already made a significant impact across Africa, we are eager to extend our reach and offer customers throughout Kenya the most affordable, sustainable solutions. Our goal is to pave the way for a sustainable and inclusive future for millions across the country.”

As Ignite Power embarks on this transformative journey in Kenya, the stage is set for a brighter, more sustainable future for all. With innovation, collaboration, and a steadfast commitment to progress, Ignite Power Kenya stands ready to illuminate the path towards prosperity and inclusivity for communities across Kenya, and the entire SSA region.

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About Ignite Power: Ignite Power is a leading climate-tech company specializing in last-mile solar-based infrastructure solutions. With a mission to provide clean, reliable, and affordable energy access to 100 million people across Africa, Ignite Power continues to lead the way in sustainable energy innovation, creating impact at scale and fostering a cleaner, more inclusive future for Africa and the world.

19 February 2024: Capton Energy and Enerwhere have entered into a landmark agreement, catalysing the private commercial and industrial (C&I) solar power market. Commencing with an initial 25MWp including the immediate deployment of 9 MW in off-grid solar projects, in addition to a battery storage facility, the joint venture is poised to execute a much larger pipeline of captive power projects supporting C&I offtakers across the Middle East and Africa through to 2026.

This strategic partnership represents a transformative shift for the energy transition landscape, blending Capton Energy’s investment skills and creative application of project finance techniques, with Enerwhere’s deep experience in innovative renewable and hybrid energy solutions. The collaboration is poised to meet the surging demand for reliable and sustainable energy solutions within the commercial and industrial and off-grid sectors, heralding a new era for decarbonising and digitising the private power market.

Umer Ahmad, the Chief Executive and Chief Investment Officer of Capton Energy stated: “We are delighted to launch our partnership with Enerwhere, which marks a significant milestone for Capton Energy as we introduce a novel transaction structure designed to accelerate the deployment of clean energy infrastructure for off-grid environments. This initiative underscores our commitment to driving the energy transition forward by leveraging financial and commercial innovation to establish new industry paradigms. Through our partnership, we aim to offset carbon emissions, while localising power production and fostering job creation.”

Alice Cowman, the Chief Executive Officer of Enerwhere further stated: “This major investment from a partner like Capton is a significant validation of Enerwhere’s approach and business model. It launches us into our next stage of growth and development and, as CEO, I am thrilled to mark the start of my tenure with it. This allows us to have renewed focus on our core business of providing the most innovative solutions for our clients and partners and I look forward to re-engaging with them in 2024.”

The joint venture underscores Capton Energy and Enerwhere’s shared commitment to fostering innovation and sustainability in the energy sector. With a focus on delivering a robust pipeline of solar power and battery storage projects, this partnership is well-positioned to provide reliable, efficient, and sustainable energy solutions to the private corporate and industrial markets, paving the way for a greener future.

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About Capton Energy: Capton Energy is a joint venture between Siemens Financial Services and Desert Technologies (the “Sponsors”). Capton Energy was established under a shared vision to support the energy transition by mobilising capital towards identified funding gaps in critical market segments, particularly in emerging markets. Backed by the Sponsors’ committed capital and imminently launching a fund, Capton Energy has a primary focus on energy transition infrastructure including renewable energy generation, energy storage, EV infrastructure and energy efficiency. With a core interest in selected countries in Africa, Asia and the Middle East, we are seeking to deliver positive impact to local communities and industries by providing clean energy solutions that decarbonise electricity, reduce energy consumption, increase electrification, and provide energy access.

About Enerwhere: Enerwhere is a global leader in renewable energy solutions for off-grid power markets and is deeply committed to the energy transition. The company provides power to commercial & industrial customers without a stable grid connection, using its proprietary suite of solar-hybrid mini-grid. Enerwhere designs, builds, & operates, the world’s most advanced microgrids, committed to integrating renewable technologies in innovative ways.

The future of energy is distributed and digital and Enerwhere invests heavily in its own data and software application – Enlite – which uses high-resolution data analytics to assess each client’s energy requirements on a very high resolution and uses this information to tailor a complete energy solution which evolves over time depending on client need.

Enerwhere’s sustainable power solutions help clients across the construction, real estate, hospitality, mining, oil and gas & waste management industries to reduce fuel costs & carbon emissions while increasing reliability of their operations. Since its inception in 2012 Enerwhere has reduced the carbon emissions of its clients by over 40,000 tons of CO2.

14 February 2024: The World Bank has extended a facility of close to $300 million to the Eastern and Southern African Trade and Development Bank (TDB), to support distributed renewable energy (DRE) and clean cooking private sector projects in eligible countries of the World Bank’s International Development Association (IDA) that are TDB member states.

This new facility follows TDB’s successful financing of innovative off-grid solar projects in the region it serves which were financed under a groundbreaking $415 million World Bank Regional Infrastructure Financing Facility (RIFF) facility that was extended to TDB in 2020.

It is part of a first wave of phases of IDA’s $5 billion Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) program, which is expected to provide access to electricity to up to 100 million people in Africa over the next seven years and contribute to achieving SDG 7. Other phases under this stage of the program also include the ASCENT COMESA Regional Acceleration Platform to be implemented by the COMESA Secretariat, and programs in four initial countries, which were selected as ASCENT champions representing different energy access stages and contexts found in the region.

The facility is financed through International Development Association (IDA) financing and a grant from the Energy Sector Management Assistance Programme (ESMAP). Under the facility extended to TDB, the ASCENT Regional Energy Access Financing Platform (REAF) will be established and implemented. The ASCENT REAF is estimated to have the potential to facilitate access to electricity for up to 5 million people, access to clean cooking for up to 1 million people and add up to 35MW in terms energy capacity to the region.

Through direct lending to private sector, co-financing or on-lending via financial intermediaries, loans under this facility will be provided to DRE and clean cooking companies, with smaller loans to SMEs to be extended through TDB Group’s Trade and Development Fund (TDF).

Furthermore, performance-based catalytic grants will be made available to support companies entering new markets in order to pilot promising innovations and help the private sector grow. This is in addition to technical assistance, capacity building and the development and piloting of financial innovations for TDB, TDF and clients, to enhance the sustainability of their interventions in the DRE and clean cooking space. This support will particularly focus on pipeline development, implementation tools and technologies, E&S aspects, climate resilience, gender, and innovative financing instruments.

Progress on many human development indicators and improvements in electrification rates in Africa have been stifled by recent global crises and macroeconomic woes. Electricity is fundamental to the region’s efforts to reduce extreme poverty and to its sustainable growth. It provides the lighting needed for children to study and become agents of change, promotes inclusion, and yields the power needed to enable the private sector – MSMEs and big corporates alike – to generate jobs and economic output, and drive innovation and industrial development. Access to clean energy, including for cooking, is paramount to reducing indoor air pollution and improving productivity and health outcomes, especially for women.

Admassu Tadesse, TDB Group President and Managing Director said: “With African energy demand projected to grow rapidly alongside growth in population and incomes, there is an acute need to boost the intermediation of financing, including of concessional finance which can be leveraged to crowd-in more private capital, and make a substantial difference towards greater access to sustainable and clean energy in Africa. Together with several other strategic engagements with World Bank Group institutions, TDB Group is delighted to further elevate its partnership with the World Bank’s IDA through ASCENT which stands to bolster the efforts the Group has been deploying towards a just energy transition, including by adding low-carbon energy capacity in its markets, thereby enhancing their energy security and sustainable growth, while reducing GHG emissions.”

Boutheina Guermazi, World Bank Director for Regional Integration in Africa and the Middle East said: “Access to sustainable, reliable, and affordable energy is at the crux of Africa’s development and poverty reduction efforts. The World Bank is pleased to build on our strong partnership with TDB Group, and we look forward to leveraging our combined efforts to unlock even more sources of financing for a host of private sector actors through the new ASCENT Regional Energy Access Financing Platform (REAF).”

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About TDB: Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is an investment-grade African regional development finance group, with the mandate to finance and foster trade, regional economic integration and sustainable development. With an asset base of USD 10 bn, TDB Group has 25 African member states, which alongside non-regional member countries and institutional investors from Africa, Europe and Asia, form TDB’s community of shareholders.

TDB Group counts several subsidiaries and strategic business units including the Trade and Development Bank (TDB), TDB Group Asset Management, the Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy. For more information, visit: www.tdbgroup.org.

About the World Bank Group: The World Bank Group has a bold vision: to create a world free of poverty on a livable planet. In more than 100 countries, the World Bank Group provides financing, advice, and innovative solutions that improve lives by creating jobs, strengthening economic growth, and confronting the most urgent global development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries. It consists of the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). For more information, visit: www.worldbank.org.

13 February 2024: Regular power outages or load shedding in South Africa pose significant challenges to commerce, industry, and private households. These interruptions not only affect daily operations but also impact the economy’s productivity and the population’s satisfaction. Amidst this energy uncertainty, the solar and storage industry is experiencing an impressive upswing. More and more companies and individuals are turning to renewable energy and battery storage to protect themselves from the effects of load shedding while promoting sustainable energy solutions. The shift to these technologies represents a significant step toward a more reliable and greener energy future in South Africa. The combination of a PV system with a battery storage system or diesel generator makes it possible to be independent of the power grid in times of load shedding, while saving on energy costs.

Digital solutions can help operate these systems more efficiently and sustainably. Since various components are often combined and connected to the power grid, centralized control solutions are essential. Through dynamic tariffs combined with intelligent control, batteries can be charged cost-effectively, and diesel generators can be operated fuel-efficiently.

EcoPhi has developed an innovative solution to address the challenges of load shedding. With its intelligent energy management system, solar installations and energy storage can be used in the best possible way, providing an efficient response to power grid interruptions, and ensuring a reliable and continuous energy supply. A unique feature of EcoPhi systems is their modularity and flexible applicability. This means that the systems can already be used economically in small domestic installations – but also in large and complex installations such as mini-grids or C&I projects. EcoPhi monitoring solutions offer a diverse range of applications that can be used in various combinations and scenarios.

EcoPhi Products – Modular and versatile

Specifically for the South African energy market, EcoPhi has developed a range of important products. EcoPhi has set itself the goal of making the monitoring and control of solar systems, batteries and diesel generators manufacturer independent. This not only enables more efficient energy production but also contributes to reducing operating costs and improving supply security.

Detailed monitoring of various system components enables precise analysis and improves overall performance. The system can provide real-time data to detect issues early and optimize maintenance intervals. In times of load shedding, the intelligent control system can ensure that solar systems and batteries are used efficiently. Different electricity tariffs make it possible to charge batteries at cost-effective times to secure the energy supply and maximize self-consumption. The EcoPhi control system also enables optimized use of diesel generators. Through intelligent coordination with the photovoltaic system and battery storage, diesel consumption can be reduced, which is not only cost-efficient but also reduces the environmental impact.

The EcoPhi solution stands out in particular due to its flexibility, allowing a large number of components from different manufacturers to be combined. In addition to the “classic” solar monitoring and control options, this also opens up a wide range of other application areas such as monitoring solar cold rooms or water systems.

South Africa as a strategic hub for Africa

The flexibility of the EcoPhi solution is evident in current projects the company is undertaking in South Africa. EcoPhi monitors pure PV installations as well as battery- and generator-coupled systems and also a water system. The successful commissioning of EcoPhi’s initial projects in South Africa demonstrates the practical effectiveness of these innovative approaches. The company now plans to expand its activities further with the RES programme and extend its existing partner network to promote sustainable energy systems worldwide.

“South Africa is a very significant and strategically important market for EcoPhi. With our energy management systems, we have a perfect solution for the requirements of the South African energy market,” says Sebastian Zenz, CTO of EcoPhi. “In the medium to long term, South Africa is intended to establish itself as the center of our activities on the African continent.”

In the long term, the creation of a subsidiary in South Africa should enable the company to establish itself more firmly in the market and offer localized services. This is expected to contribute to regional presence and customer loyalty. South Africa is an ideal foundation for opening up further African markets in sub-Saharan Africa. Thanks to its experience and established local partnerships, the company can introduce its solutions in neighboring countries and address the specific needs of these regions.

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About German Energy Agency (dena): The German Energy Agency (dena) is a centre of excellence for the applied energy transition and climate protection. dena studies the challenges of building a climate-neutral society and supports the German government in achieving its energy and climate policy objectives. Since its foundation in 2000, dena has worked to develop and implement solutions and bring together national and international partners from politics, industry, the scientific community and all parts of society. dena is a project enterprise and a public company owned by the German federal government. dena’s shareholder is the Federal Republic of Germany. For more information, visit: www.dena.de.

About German Energy Solutions Initiative: With the aim of positioning German technologies and know-how worldwide, the German Energy Solutions Initiative of the Federal Ministry of Economics and Climate Action (BMWK) supports suppliers of climate-friendly energy solutions in opening up foreign markets. The focus lies on renewable energies, energy efficiency, smart grids and storage, as well as technologies such as power-to-gas and fuel cells. Aimed in particular at small and medium-sized enterprises, the German Energy Solutions Initiative supports participants through measures to prepare market entry as well as to prospect, develop and secure new markets. For more information, visit: www.german-energy-solutions.de.

About Renewable Energy Solutions Programme (RES Programme): With the RES programme, the German Energy Solutions Initiative of the Federal Ministry of Economics and Climate Action (BMWK) helps German companies in the renewable energy and energy efficiency sectors enter new markets. Within the framework of the programme, reference plants are installed and marketed with the support of the German Energy Agency (dena). Information and training activities help ensure a sustainable market entry and demonstrate the quality of climate-friendly technologies made in Germany. For more information, visit: www.german-energy-solutions.de.

23 January 2024: Stichting Clean Energy and Energy Inclusion for Africa (CEI Africa) signed a results-based financing (RBF) grant for a total of up to USD 1,953,000 to green mini-grid (GMG) developer Africa GreenTec for the densification of 18 mini grids and the construction of 7 mini grids in rural Mali.

Africa GreenTec was awarded the RBF grant to support the connection of 38 rural Malian communities to mini grids, resulting in approximately 38,000 individuals gaining access to productive and renewable electricity. The company’s Malian subsidiary, AGT Électrification Rurale SARL, Bamako, will independently manage the investment.

Africa GreenTec Asset GmbH was founded in 2016 to support equitable development in Sub-Saharan Africa through sustainable energy solutions. The company’s Malian subsidiary, AGT Électrification Rurale SARL, Bamako, was founded in 2017. To date, the Malian subsidiary produces, distributes and sells renewable energy in 20 communities not connected to the central Malian power grid. In total, nearly 4,500 connected households currently receive electricity. Villagers and small businesses have already noticed the positive effects, including reduced migration to other regions of Mali and abroad.

Primarily located in Mali’s Kayes and Sikasso regions, the 38 newly electrified communities largely rely on farming and livestock rearing, with some engaging in traditional gold mining. Future programs include supporting income-generating activities with a focus on micro-businesses and women’s empowerment programs, including shea butter production.

CEI Africa has allocated EUR 21M to support project developers to finance GMGs through RBF, including the provision of technical assistance. Africa GreenTec’s project further supports CEI Africa’s goal of improving energy access for households in Mali, a country where more than 53.4 percent of the population still lacks energy access.

“Our collaboration with CEI Africa will enable AGT ER to further expand in the country and reinforce existing sites over the next two years by providing electricity to more than 8,500 households, with more than 85,000 direct beneficiaries,” said Alou KEITA, AGT ER General Manager. “This means significant increase in AGT ER’s impact in the field of rural electrification in Mali.”

“CEI Africa is pleased to support the provision of electricity access to underserved rural Malians,” said CEI Africa Board member Claudia Vroom. “GreenTec’s off-grid solutions will create economic opportunities and improve access to social services in remote areas.”

The RBF grant award is pursuant to fulfillment of certain conditions precedent agreed to between CEI Africa, and Africa GreenTec, which includes, among others, the execution of a Grant Agreement. The RBF grant funding will be disbursed upon completion of new electricity connections.

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About AGT-ER: Inaugurated in 2017 as a subsidiary of Africa GreenTec Asset GmbH, Africa GreenTec Électrification Rurale (AGT-ER) SARL stands as a trailblazer in reshaping Mali’s renewable energy landscape. With a workforce of 80 dedicated individuals, AGT-ER is committed to providing sustainable and affordable electricity solutions to long-overlooked communities, with a primary focus on rural areas. Utilizing solar energy as a driving force, AGT-ER has successfully implemented mini grids in 24 villages, directly impacting 4,500 households and reaching an impressive 45,000 individuals. This remarkable outreach underscores the company’s dedication to bringing reliable electricity to areas that have historically lacked access. AGT-ER’s approach goes beyond mere electrification; it’s a catalyst for economic development and an enhancer of living standards. The company’s clean energy technologies not only minimize its carbon footprint but also contribute to environmental sustainability, aligning with its core values.

With each expansion, AGT-ER exemplifies a commitment to innovation, environmental responsibility, and a vision for an energy-empowered future. As the company continues to grow, its role in revolutionizing the energy landscape across the African continent becomes increasingly impactful, bringing light and progress to those who need it most.

About CEI Africa: CEI Africa was established by the German development finance institution KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) in 2021 to improve access to energy for rural and peri-urban households and enterprises in sub-Saharan Africa. CEI Africa is managed by Triple Jump B.V., Persistent, and GreenMax Capital Group. It is a one-stop shop for mini-grid developers and other off-grid energy companies, offering a variety of financing instruments. The implementation of the Foundation’s Crowdlending window, which provides debt and investment products in collaboration with European Crowdlenders, is led by Persistent. CEI Africa has allocated EUR 28M to support off-grid energy companies and mini-grid project developers through co-financing with Crowdlenders, including the provision of Technical Assistance. GreenMax manages the Results-based and impact-based financing window, offering results-based financing grants and forgivable loans. For more information, visit: https://cei-africa.com/.

22 December 2023: In a great step forward for improving financial resiliency in Nigeria, Bboxx, a data-driven super platform and champion of economic empowerment in Africa, has partnered with Turaco (registered in Nigeria as Turaco Inclusive Limited), Africa’s leading insurtech, to offer insurance products to Bboxx’s customers. This collaboration aims to provide Bboxx pay-as-you-go solar home system customers access to a safety net against financial shocks that can undermine the financial resiliency of rural borrowers.

Bboxx and Turaco have joined forces to provide Bboxx’s customers the opportunity to purchase insurance that protects them against hospitalization, permanent total disability, and death underwritten by Leadway Assurance Company Limited. The insurance not only provides a financial cushion to Bboxx customers in the face of unexpected events, it also protects them and their families from becoming indebted, with the outstanding loan being repaid when catastrophic events do occur.

The addition of insurance to Bboxx’s product offering is an important step towards achieving its goal of championing the economic empowerment of Africa, accelerating the transition to the digital economy. Only 3% of Nigerians have health insurance, with the number of rural individuals and informal workers being even less likely to be insured. As a result, over 40% of Nigerian households face catastrophic levels of out of pocket health expenses each year. Rural, low-income households in Nigeria often do not have access to affordable and simple insurance.

Speaking on the partnership, Ernest Akinlola, MD for Bboxx Nigeria said, “Bboxx Nigeria aims to provide clean energy to 20 million people over 10 years. However, we know that, to be true to our vision of driving inclusive and sustainable economic growth, the bundling of financial services with our core solar home system is critical. We are excited to be partnering with Turaco to provide additional value to our customers.”

Bboxx’s partnership with Turaco will provide low-cost, valuable health insurance to those often excluded from access to insurance. Targeted at underserved customers and low-income earners, the products Turaco is distributing are priced at at less than ₦2,000/month, with straightforward terms & conditions and a fully digitized claims process that allows Bboxx claimants to file via WhatsApp or phone call, paying out in less than three days via mobile money.

Toba Obaniyi, MD of Turaco Nigeria said, “We are always excited to find value-aligned partners such as Bboxx who understand the importance of expanding access to digital financial services. With Turaco’s innovative digital customer journey and easy claims process, we know we can provide Bboxx’s rural customer base a seamless user experience and valuable product.”

This partnership benefits from the facilitation and mentoring of FSD Africa and Bimalab, backed by NAICOM. BimaLab is a key partner for Turaco in Nigeria. Nigeria is leading the way in creating an innovation friendly regulatory environment, enabling initiatives like this to radically increase the number of people insured.

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About Bboxx: Bboxx is a data-driven super platform, transforming lives and unlocking potential by connecting consumers and deploying innovative products across Africa.

Bboxx is championing the economic empowerment of Africa, accelerating the transition to the digital economy and creating new markets. We have built Bboxx Pulse®, a fully integrated operating system, and combined it with an extensive on-the-ground network to connect customers with clean energy, clean cooking, smartphones, e-mobility and selected financial products – many for the first time.

Following the successful acquisition of solar energy frontrunner PEG Africa in 2022, Bboxx is now positively impacting the lives of more than 3.6 million people in 10 operating markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals. Bboxx and its group of companies is one of the largest networks in Africa, with over 4,000 staff across Africa and offices in the UK and Asia. For more information, visit: bboxx.com.

About Turaco: Turaco is a Pan-African insurtech driving financial resilience in emerging markets with simple and affordable health and life insurance for the underserved mass market.

Founded in 2019, Turaco is present in Nigeria, Ghana, Kenya, and Uganda. Turaco partners with leading mobile network operators (MNOs), technology-enabled companies, and financial institutions to embed and distribute insurance products to their customers. With Turaco, individuals can secure insurance coverage with premiums starting as low as $1 per month. Turaco processes claims in less than three business days, ensuring customers receive their money when they need it the most. With a vision to insure 1 billion lives, Turaco has insured more than 1.5 million lives and has facilitated the payment of more than 20,000 claims to date. For more information, visit: https://www.turaco.insure/.