DBSA provides funds to Mozambican supplier of solar home systems
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.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation