Project Description
The project consists of an IFC equity investment of up to US$7.5 million in a co-investment vehicle (“IFC Co-investment Fund” or the “Project”) with IFC’s existing investee fund Investec Africa Frontier Private Equity Fund II (“Investec II”). The purpose of the vehicle is for IFC to participate in a co-investment with Investec II in Mobisol GmbH (or the “Company”). Mobisol combines solar energy with an affordable payment plan via mobile phone, comprehensive customer service and innovative remote monitoring technology. The Berlin-based company offers low-income customers in developing nation’s quality solar home systems that are a clean alternative to unhealthy, environmentally harmful, and expensive fossil fuels.