This initiative will primarily focus on SMEs in North, East, and West Africa, operating in key sectors such as education, health, and agribusiness.

The investment aligns with Proparco’s Choose Africa initiative, which is dedicated to bolstering African SMEs and start-ups.

Jérémie Ceyrac, Proparco’s Investment Director, highlighted the fund’s objectives, stating:

“This investment is fully in line with the Choose Africa initiative, which Proparco has launched to support SMEs and start-ups in Africa. This fund reflects our ambition to strengthen the capacities of African entrepreneurs and to respond to economic, social, and environmental challenges in a sustainable manner. Our partnership with AfricInvest goes back more than 25 years, and we are proud to once again play a joint role in supporting the continent’s economic fabric.”

AfricInvest, a leading Pan-African investment platform, views this fund as a continuation of its mission to empower high-growth, high-impact African businesses.

Brahim El Jai, Senior Partner at AfricInvest, remarked:

“This fund is part of our ongoing commitment to support small and medium-sized African businesses with high growth and impact potential in their ambition to become drivers of sustainable transformation. By combining financial support with our local and multi-regional expertise, we are supporting innovation, job creation, and the adoption of climate strategies in line with the Paris Agreements. Our aim is to help these companies generate measurable economic, social, and environmental value while consolidating their position in strategic markets.”

This collaboration underscores the long-standing partnership between Proparco and AfricInvest, spanning more than two decades. 

The funding will drive the expansion of MOPO’s battery rental operations in the Democratic Republic of Congo (DRC), a cornerstone of the company’s strategic growth plans in Africa.

MOPO aims to revolutionize energy access across urban and rural areas in Africa, addressing the persistent issue of unreliable or non-existent electricity grids.

The company’s offerings include two battery types: the MOPO50, designed for lighting, phone charging, and small DC appliances, and the larger MOPOMax, capable of powering 230V appliances and serving as a battery swap solution for e-motorbike taxis.

These batteries are available through solar-powered hubs managed by local agents, enabling customers to access electricity on a pay-per-use basis without the financial burden of upfront costs or consumer debt.

The new funding will allow MOPO to triple its service capacity in the DRC over the next year, targeting over one million people.

With only 17% of the DRC’s population having access to electricity, the World Bank ranks the country among the ten least electrified globally.

MOPO’s model provides an affordable and environmentally friendly alternative to carbon-based fuel generation, addressing a critical need for sustainable energy solutions.

Chris Longbottom, MOPO’s CEO, emphasized the transformative potential of the funding, stating:

“Our partnership with BII aligns perfectly with our mission to provide clean, affordable energy to underserved communities. This collaboration will enable us to make a lasting impact, empowering households and small businesses without the burden of costly upfront investments.”

Since its launch in the DRC in early 2024, MOPO has established operations in six cities and achieved over 23 million battery rentals across Sub-Saharan Africa.

The DRC has emerged as a key growth market due to its vast population of over 100 million, where more than 80% lack access to electricity.

“This financing from BII is a pivotal moment for MOPO as we scale our operations and bring transformative energy solutions to millions,” Longbottom added.

Chris Chijiutomi, Managing Director and Head of Africa at BII, highlighted the significance of MOPO’s mission: “MOPO’s innovative solutions are addressing a critical energy deficit, enabling businesses and households to thrive even in remote areas. This partnership reflects BII’s commitment to fostering sustainable economic growth in Africa’s frontier markets.”

Lord Collins of Highbury, UK Minister for Africa, echoed these sentiments, emphasizing the broader impact of UK investment in driving sustainable economic growth in Africa. “This partnership between BII and MOPO showcases how UK expertise can unlock opportunities for green development, creating value for businesses in the UK and Africa alike,” he said.