IFC and FMO investment in Mobisol helps deliver decentralized solar energy to East Africa
IFC, a member of the World Bank Group, and FMO, the Dutch development bank have invested in Mobisol GmbH, a pay-as-you-go solar energy service company, to deliver renewable energy solutions to off-grid communities in East Africa. IFC’s equity investment of EUR 5.42 million and EUR 9.2 million from the AEF and MASSIF Dutch government funds managed by FMO brings them into partnership with Investec Asset Management’s African Private Equity Fund and DEG, which have already invested in Mobisol. The financing will help accelerate Mobisol’s growth in existing markets in Rwanda and Tanzania, and to support its expansion into Kenya. ….