The Malawi Ngwee Ngwee Ngwee Fund has achieved a historic milestone by electrifying more than 200,000 households in just thirteen months, exceeding expectations and accelerating Malawi’s journey toward energy access for all. Beginning installations in September 2023, the Fund reached this remarkable target by October 2024, showcasing the collective efforts of its eight portfolio companies: Yellow, Zuwa Energy, Green Impact Technologies, VITALITE Group Malawi, SunnyMoney Malawi, RECAPO SOLAR SYSTEMS, Sollys Energy, and StarTimes Malawi.
Despite facing economic and climate challenges, the Fund’s resilience in delivering sustainable solutions to rural Malawi stands as a testament to its commitment. By providing electricity to over 900,000 beneficiaries—4.5% of Malawi’s population—the initiative has significantly improved the quality of life for communities across the nation.
This achievement is supported by the innovative financing model of market-based lending and Results-Based Financing (RBF) grants, provided with the assistance of The World Bank. The grants, designed to bridge the affordability gap, have enabled households to access solar energy at reduced costs, propelling the Fund’s rapid success.
The Ngwee Fund’s leadership has positioned Malawi as the fastest-growing off-grid energy market in East Africa. Looking ahead, the Fund is on track to achieve its next milestone of connecting 250,000 households to solar energy by June 2025