Investec Asset Management (Investec), through its Africa Private Equity capability, recently concluded a further equity investment in Mobisol, following the initial investment made in 2016 and a follow-on investment made in 2017. The investment was led by Investec and included consortium partners the IFC and FMO. It is expected to complement further debt funding being secured by Mobisol to continue supporting the expansion and growth of the business.
Mobisol, headquartered in Berlin, is an innovative company addressing the demand from off-grid households, numbering over 100 million in Africa, for a full home energy solution that provides significantly more capability than lighting. It focuses on the larger end of the SHS market with systems that are powerful enough to run a range of household and productive-use appliances. Mobisol’s 200W Bright Future SHS is the most powerful system certified by Lighting Global*.
Mobisol has operations in Kenya, Tanzania and Rwanda where it has sold 110,000** systems benefiting over 550,000** people. Mobisol is also working with distributor partners in other African countries, and recently launched Paygee, a software-as-aservice (SAAS) platform, which enables operation of a pay-as-you-go business model***.
Investec Asset Management established an African private equity capability in 2008. The Private Equity strategy focuses on growth capital and buyout investments in established mid-market and larger companies in Africa, with the objective of supporting the creation of local or regional champions in their respective industries.
“We are pleased that with this further equity investment we are able to continue supporting Mobisol’s expansion and growth,” says Mark Jennings, Investment Principal, Investec Asset Management.
-ENDS-
For further information, please contact:
Mark Jennings
+44 20 7597 1808
mark.jennings@investecmail.com
Adriaan Dippenaar
+44 20 7597 2103
adriaan.dippenaar@investecmail.com
*http://plugintheworld.com/news/mobisol-offers-powerful-solar-system-certified-lighting-global/
**Source: Mobisol, February 2018
***http://plugintheworld.com/press-releases/mobisol-launches-paygee-a-powerful-operatingsystem-for-the-payasyougo-industry/
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