https://www.engineeringnews.co.za

DBSA provides funds to Mozambican supplier of solar home systems

20th February 2020

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

The Development Bank of Southern Africa (DBSA) has committed project funding to Ignite Mozambique, a local company that aims to supply solar home systems in rural Mozambique.

The DBSA made the announcement during the Global Off-Grid Solar Forum and Expo 2020, on Thursday, adding that it would also be the lead arranger for the debt funding for Ignite Mozambique’s endeavour to connect 1.8-million people to clean power.

Currently, the World Bank estimates 70% of the Mozambique population is without electricity in their homes, which hinders economic prosperity, proper education and leads to massive health and fire hazards.

DBSA project preparation division group executive Mohale Rakgate said the bank’s investment consists of a structured project preparation facility that will allow Ignite Mozambique to grow its portfolio to demonstrate the requisite track record to become commercially bankable.

“Together we aim to connect 300 000 households in off-grid areas in Mozambique. This facility will anchor DBSA as a long-term partner to support this project through their development efforts in scaling up this highly impactful rural energy solution.

“This off-grid partnership in Mozambique emphasises the bank’s strategy toward impact investment in Africa,” he added.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.058 0.913s - 157pq - 2rq
Subscribe Now