Quick Facts

Regions:
Where the impacts of the investment may be experienced.
  • Africa
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
Bank Risk Rating: C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-09-08
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Mobisol
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Amount (USD): $ 0.44 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 0.37 MLN
Converted using 2017-12-25 exchange rate.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-04-09
IAPEF 2 Mobisol Limited
FMO-49924

Project Description

WHO IS OUR CLIENT

Mobisol is a leading off-grid pay-as-you-go energy provider, with its headquarters in Germany and operations in Africa. Mobisol sells and finances larger solar home systems to lower income households in East Africa, offering an affordable alternative to fossil fuels, with a view to provide these households with full electrification. Driven by innovation, Mobisol's 'all-in-one' offer combines solar energy with mobile technology and mobile payment to effectively electrify remote or underserved categories of population with high-quality solar solutions.

FUNDING OBJECTIVE

FMO will be investing up to EUR 9 million along with Investec Africa Private Equity Fund 2, Investec Asset Management's second fund, to provide the company with the necessary capital to strengthen the company's financial sustainability and make it a significant player in the market.

WHY WE FUND THIS PROJECT

The project has a high development impact as Mobisol provides green energy solutions that directly impact the lives of those in the lower income households segment in terms of electrification, environment, empowerment and employment. Apart from catering to residential customers, Mobisol also supplies to Small and Medium size Enterprises (SMEs).

Investment Description
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.

Bank Documents