More
    HomeUpdatesUK Invests $7M in Mopo to Expand DRC Operations

    UK Invests $7M in Mopo to Expand DRC Operations

    Published on

    spot_img

     The UK government has announced a new £13.8 million investment package aimed at expanding access to electricity across Africa, leveraging British innovation and partnering with multilateral institutions.

    The initiative, unveiled by Africa Minister Lord Collins at the Mission 300 Africa Energy Summit, includes a £5.3 million investment from British International Investment (BII) in MOPO, a UK cleantech company. This funding will enable MOPO to expand its pay-per-use battery rental operations in the Democratic Republic of Congo (DRC), where over 80% of the population lacks access to electricity.

    Furthermore, the UK is contributing £8.5 million to the African Development Bank’s Sustainable Energy Fund for Africa (SEFA). This support will unlock private sector investment in renewable energy projects, including clean cooking, energy efficiency, and the development of solar-powered mini-grids in rural communities.

    “Connecting the continent to clean, reliable energy is vital,” said Lord Collins. “This investment will not only improve the lives of millions of Africans but also demonstrate how UK companies can lead the global clean energy transition.”

    Rachel Kyte, the UK’s Special Representative on Climate, emphasized the importance of reliable and affordable clean energy for economic growth and development. “Clean energy offers an opportunity for inclusive growth,” she stated at the summit. “Helping end energy poverty supports growth, builds resilience, and puts countries on a pathway that helps our common challenge of fighting climate change.”

    BII CEO Leslie Maasdorp highlighted the importance of early-stage solutions in expanding energy access. “This investment in MOPO demonstrates our commitment to creating more early-stage solutions that help expand access to energy for more Africans,” he said.

    The UK government is actively pursuing its Plan for Change, which aims to transform the UK into a clean energy superpower. This investment package aligns with that ambition by championing clean technology innovation overseas and generating opportunities for British businesses.

    Latest articles

    Meet the VC Funds Deploying Tunisia’s $60m ANAVA Fund of Funds

    To date, ANAVA has committed €45 million across 10 venture capital (VC) funds, including those operating out of Nigeria and Senegal. The fund targets up to 13 funds.

    How Sprintly Partners Is Putting Egyptian Startups on Silicon Valley’s Investment Map

    The initiative aims to provide early and growth-stage startups with direct access to funding, mentorship, and networking opportunities within one of the world’s most competitive startup ecosystems.

    Are You a Celebrity Founder or a King of Control? Dream VC’s New Founder Personality Tool Offers Answers

    Are you prioritizing public image, bossing your teams, chasing valuation, or focusing on profitability? A new tool is here to help founders stay on track.

    Swvl Secures Additional $2 Million in Private Placement to Fuel US Expansion

    Under the agreed terms, investors have committed to a six-month lock-up period and restrictions on share transfers.

    More like this

    Meet the VC Funds Deploying Tunisia’s $60m ANAVA Fund of Funds

    To date, ANAVA has committed €45 million across 10 venture capital (VC) funds, including those operating out of Nigeria and Senegal. The fund targets up to 13 funds.

    How Sprintly Partners Is Putting Egyptian Startups on Silicon Valley’s Investment Map

    The initiative aims to provide early and growth-stage startups with direct access to funding, mentorship, and networking opportunities within one of the world’s most competitive startup ecosystems.

    Are You a Celebrity Founder or a King of Control? Dream VC’s New Founder Personality Tool Offers Answers

    Are you prioritizing public image, bossing your teams, chasing valuation, or focusing on profitability? A new tool is here to help founders stay on track.