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Fenix International to Launch Off-Grid Solar in Mozambique in partnership with leading operator Vodacom

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Launching sales in Mozambique is the latest step in Fenix’s expansion

MAPUTO, Mozambique, September 16, 2019 – Fenix International, a next-generation energy company and subsidiary of ENGIE, opens its sixth market in Mozambique, where it expects to reach 200,000 households with clean energy and inclusive financial services within 3 years.

Launching sales in Mozambique is the latest step in Fenix’s expansion. Headquartered in Kampala, the company has already connected 500,000 customers to solar power in Uganda, Zambia, Côte d’Ivoire, Benin, and Nigeria. Fenix has rapidly grown operations as a subsidiary of ENGIE, enabling the company to scale off-grid energy and financial services across new markets, with Mozambique the fourth new market opened within the past year.

Luke Hodgkinson, Managing Director of Fenix Mozambique, comments, “Mozambique has set an ambitious target with their ProEnergia initiative to reach 100% of the population with electricity by 2030. The country represents an optimal market for off-grid solar products, with only 27% of households currently connected to electricity and a highly distributed population. Fenix’s operations here will focus on reaching those most in need of energy access, particularly districts in the North and people who are using expensive, polluting, and dangerous methods such as kerosene and candles to light their homes.”

By replacing fossil fuel-powered lanterns, solar home systems allow off-grid customers to illuminate their homes with clean LED lights, as well as charge phones and run radios, TVs, hair clippers and speakers. Fenix’s latest product, Fenix Power, is a GSM-enabled power system that enables the company to determine product usage and potential technical issues remotely, improving the customer experience. Fenix is the first PAYGO solar company in Mozambique to use these Internet of Things (IoT) technologies to reduce costs and bring high-quality, affordable technology to rural, last-mile customers.

Fenix has partnered with Vodacom and Vodafone M-Pesa SA to tackle the challenges of distribution, connectivity and mobile payments that have left rural Mozambicans underserved by affordable energy products in the past.

Luke adds, “We are delighted to partner with Vodacom and Vodafone M-Pesa SA. With their market-leading brand, distribution network and payment platform, and Fenix’s high-quality products and excellent last-mile customer service, together we can provide clean energy and financial inclusion to millions of rural Mozambicans. Once these foundations have been established, the possibilities to bring other life-changing products, from household appliances to crop insurance, are truly endless.”

Gulamo Nabi, from Vodafone M-Pesa SA adds, “We’ve been working to unlock the potential of M-Pesa for the millions of Mozambicans in rural areas, far from the national grid or traditional financial services.

“Vodafone M-Pesa SA is excited to work with Fenix to access these areas and provide the easy, fast and secure payment platform for customers to light up their homes with clean, affordable energy. This is totally aligned with our mission to create mobile solutions to change our customers lives.”

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Fenix is headquartered in Maputo, but will operate in every province of Mozambique within the next three years. Whilst sales have already begun in the South Region, the next point of entry for investment will be in the province of Nampula before the end of the year. This decision is motivated by Fenix’s commitment to delivering its solution to households most in need and in the hardest to reach corners of rural Mozambique. To serve its customers across the country, Fenix will train and employ over 150 full-time sales and marketing, customer service, product diagnostics, and logistics professionals.

Fenix International

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ITFC and OCP Africa unite for the strategic financing, innovation, and capacity building of agriculture in Africa

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ITFC CEO Eng Hani Salem Sonbol and CEO OCP Africa Mr Karim Lotfi Senhadj(Image: ITFC)

ITFC and OCP Africa will jointly introduce a new “OCP School lab” campaign in Senegal in November 2019

RABAT, Morocco, October 21, 2019- The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, and OCP Africa, a subsidiary of OCP SA, have signed a Memorandum of Understanding (MoU) that will cater towards strategic funding, innovation and capacity building measures to increase agricultural production yields and income levels for Africa’s smallholder farmers. The agreement was signed between Mr Karim Lotfi Senhadji, CEO, OCP Africa and ITFC CEO, Eng. Hani Salem Sonbol.

The MoU will increase collaboration between ITFC and OCP Africa in various areas, including  smallholder farmer training on sound agricultural practices; soil testing and fertility management to support better yields; innovation and digitalization tools to modernize agricultural practices; and capacity building and support of young farmers for sustainable and inclusive development.

Commenting on the MoU, Eng. Hani Salem Sonbol, CEO, ITFC, said that the cooperation with OCP Africa is in line with ITFC’s mandate to support the development of strategic value chains in countries member of the Organization of Islamic Cooperation (OIC). “The services provided by ITFC in the agricultural sector, both in terms of trade financing and tactial support, has expanded significantly over the past years, targeting critical areas of the value chain, from farm input to processing, pre-export, and export. The sector is also one of the value chains that is ready for innovation and SME development.”

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OCP Africa’s CEO, Karim Lotfi Senhadji said, “The smallholder farmer is central to OCP Africa’s strategy to support the transition of farming communities from subsistence farming to modern, sustainable agri-business. Our aim is to strengthen the continent’s agriculture ecosystems thus enabling African farmers to prosper. The agreement with ITFC will support efforts to train farmers on best farming practices, test soils for accurate fertilizer recommendations, facilitate access to financing, and improve access to markets”.

ITFC and OCP Africa will jointly introduce a new “OCP School lab” campaign in Senegal in November 2019. A flagship program of OCP Africa, OCP School Lab is an innovative program aimed at increasing the yields and the incomes of smallholder’s farmers on strategic crops by offering a full set of agri-services:

  • A School: interactive training sessions with live demos on good agricultural practices and animated videos in local dialects for higher impact
  • A mobile Lab: Soil-testing using latest innovations (X-rays, big data and machine learning) and live information on soil needs and fertilizer recommendations

ITFC has been providing significant support to ensure food security in Sub-Saharan Africa. In 2018, trade finance approvals for the food & agriculture sector amounted to US$749.6 million, representing 14.4% of the total trade finance portfolio, a 71% increase compared to the previous year. Sub-Saharan Africa accounts for 50% of ITFC’s food & agriculture sector financing extended in 2018.

International Islamic Trade Finance Corporation (ITFC).

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Egypt urges World Bank, IMF to support regional integrity in Africa

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CAIRO – 18 October 2019: Minister of Investment and International Cooperation Sahar Nasr called on the World Bank and IMF to boost their support to Egypt in achieving regional integrity and intra-trade in Africa, a press release on Friday read.

Addressing the Intergovernmental Group of 24 on International Monetary Affairs and Development in Washington, Nasr called on the WB and International Monetary Fund to expand investments in the region.

The minister said that Egypt’s vision to face the slowdown in global economic growth and trade tensions is to achieve more economic integration and continue to take the path of reform to make our economies more competitive and attractive for investment, to achieve the aspirations of the world countries in growth and development.

Nasr explained that the Egyptian government has implemented a comprehensive economic and social reform program to promote sustainable growth, alleviate poverty, create good jobs, enable the private sector to promote growth, and provide opportunities for all sectors of society to participate in the economy, especially women and young entrepreneurs.

The Minister added that President Abdel Fattah al-Sisi, as the chairman of the African Union, has set the achievement of regional economic integration as a top priority.

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Nasr also discussed Wednesday with the World Bank the provision of $500 million for the pollution control and solid waste management project in Egypt.

Nasr added in a statement that Egypt is also discussing with the World Bank raising the level of partnership to support the health and education sectors in Egypt.

For his part, World Bank Vice President for the Middle East and North Africa Farid Belhadj affirmed that Egypt is a very important country for the bank’s fields of work.

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“Therefore the World Bank is keen to contribute effectively to the efforts exerted to achieve development in Egypt, especially in the field of infrastructure, in light of the economic and legislative reform that contributed to improving the investment climate in Egypt,”Belhadj explained.

Egypt Today

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African Development Bank inks €12.5 million deal with Adiwale Fund for SMEs

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The African Development Bank on Thursday signed off on its €12.5 million equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises (SMEs) in francophone West Africa.

The Bank Group’s board of directors approved the investment in March as part of its commitment to grow  SMEs and improve livelihoods in countries underserved by the global equity market.

With a target fund size of €75 million, the Fund will take minority stakes in vibrant SMEs in countries where economic prospects and the Fund’s networks permit a rapid scale up.

Deal size for the Fund will range from €3 to €8 million. Primary target countries will include Cote d’Ivoire, Senegal, Burkina Faso and Mali, while secondary beneficiaries will include Togo, Benin and Guinea.

Across these economies, some of which are fragile states, the Fund will target three sectors: consumer goods and services, including education and health; business services such as transport, logistics, information technology and construction, and manufacturing, including pharmaceuticals, agri-processing and chemicals.

Abdu Mukhtar, Director for Industrial and Trade Development said the Fund’s investment strategy is aligned with the Bank’s High 5 goals especially ‘Industrialize Africa, Integrate Africa and Improving the Quality of Life for the People of Africa’.

“The most exciting part is that the Fund focuses on SMEs in francophone West Africa which accounts for nearly 19% of West Africa’s GDP but attracts only 7% of private equity capital. As these companies grow, they cross the borders and integrate across different countries,” Mukhtar remarked as he signed and exchanged deal documents with the Fund Manager’s co-founder Jean-Marc Savi de Tové.

Established in 2016, the Fund Manager, Adiwale Partners, houses a team of experienced West African nationals with several decades of combined private equity, operational, development finance and asset management experience in Africa, Europe and the United States.

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From a development perspective, the Bank’s equity investment will provide growth capital to African SMEs, resulting in spill-over effects on job creation and tax revenues, with about 45% of the jobs going to women, Mukhtar said.

Savi de Tové said the Fund will also provide local entrepreneurs with management expertise and boost best-in class corporate governance and human capital development, which ultimately unlocks growth and supports economic transformation.

African Development Bank

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