ZAMBIA: TDB enters the solar kit market with a $2m loan

With 89% of Zambians living in rural areas still without access to electricity, according to Power Africa, the Trade and Development Bank of Eastern and Southern Africa (TDB), like other development banks active in sub-Saharan Africa, is betting on decentralised solar systems. The Mauritius-based bank has just granted a $2 million loan through its Trade and Development Fund (TDF) to MPower Ventures, a company based in Zurich, Switzerland.

In rural areas of Zambia, the company headed by Manuel Seiffe is supporting the supply of solar home systems and other equipment for productive use of solar energy, including freezers, sewing machines and water pumps. These products are intended for households, as well as farmers in peri-urban and rural areas, and small and medium-sized enterprises (SMEs).