MPower Ventures Zambia imports and retails plug-and-play household solar devices and market-driven productive assets such as freezers, sewing machines, and water pumps for lower- and middle-income households, SMEs, and farmers. The company plans to construct 50 new rural energy hubs to extend last-mile power to domestic and public facilities, including health centers. Those hubs are expected to generate about 30 direct jobs and over 500 indirect employment opportunities. MPower received a concessional three-year, USD 2 million term loan from the Eastern and Southern African Trade and Development Bank Group, facilitated through the Trade and Development Fund, to catalyze its expansion. Management emphasized the company’s commitment to sustainable development, green growth, and improving energy access in peri-urban and rural communities. The facility was signed in Lusaka at a meeting attended by government, finance, and energy sector stakeholders. MPower built a B2B platform delivering decentralised, high-quality plug-and-play solar devices and energy-efficient household and income-generating appliances for lower- and middle-income households, SMEs and farmers. The company also offers a financing model to partners and end-users and in-house software to help distributors optimise operations. MPower operates in Zambia, Togo, Cameroon, Namibia and recently started operations in Ghana, and has grown its headcount to 36 people. Expansion and demand have driven deployment of more than 30,000 units through over 20 distribution partners, delivering electricity to more than 50,000 people in hard-to-reach and peri-urban areas. The company positions its infrastructure to scale into further African countries to capture large unmet need for reliable power across Sub-Saharan Africa. To support that growth, MPower aims to triple its impact in 2023.

Total raised

$4M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Mar 2024