TDF Grants $2 Million to MPower Ventures for Sustainable Energy in Zambia

The Trade and Development Fund (TDF) of the Eastern and Southern African Trade and Development Bank Group (TDB Group) extended a 3-year USD 2 million term loan to MPower Ventures Zambia Limited, aiming to bolster access to modern and affordable energy solutions across Zambia.

MPower Ventures Zambia Limited intends to utilize the loan to import and retail solar products, diversifying their inventory to include plug-and-play household solar devices and market-driven productive assets. These offerings are tailored for lower- and middle-income households, SMEs, and farmers in peri-urban and rural areas. Furthermore, MPower Zambia plans to establish 50 new rural energy hubs, facilitating energy access for both domestic and public use while spurring job creation and economic activity in communities without electricity grid access.

The facility agreement was signed during a breakfast meeting attended by various stakeholders, including Jito Kayumba, Presidential Advisor on Economy and Implementation, Subeta Mutelo, Permanent Secretary of Energy and SMEs, Johannes Hertlein, Country Director MPower Zambia, and CEOs. Discussions during the panel session focused on opportunities for financing renewable energy in Zambia.