The Development Bank of Southern Africa (DBSA) has committed $2.25-million in project preparation funding to Mauritius-based off-grid energy and media company Apalia24.
Apalia24 is involved with bundling solar photovoltaic solutions, pay-go technologies, digital broadcasting and solar television to empower Africa, with the Democratic Republic of Congo (DRC) its first country of deployment.
The company intends to use the funding to boost Africa’s domestic electricity access by accelerating the adoption of affordable off-grid solar solutions, including FM radio and digital television, aimed at millions of unserved populations in remote African communities.
DBSA project preparation group executive Mohale Rakgate on Thursday said the investment comprised a structured project preparation facility that would allow Apalia24 to strengthen its operations and start with the implementation of its innovative business model through a pilot over the next 12 months.
“Together, we aim to connect 5 000 households initially in preselected off-grid cities in the DRC. This convertible facility will anchor DBSA as a long-term partner with Apalia24.
“DBSA is committed to supporting this African-owned project through their development efforts in scaling up this highly developmentally focused twenty-first-century off-grid solution. This investment is the first of its kind for the bank in the DRC, emphasising the bank’s strategy toward impact investments in Africa,” he said.