The Malawi Ngwee Ngwee Ngwee Fund is celebrating the achievement of electrifying more than 100,000 households in just nine months! The Fund since its commencement of installation in Sep-23 has crossed 100k mark in May-24. This feat was accomplished by the six portfolio companies of the Fund Yellow, Zuwa Energy, Green Impact Technologies, VITALITE Group Malawi, SunnyMoney Malawi and StarTimes.
During this nine month, despite experiencing various economic and climate shocks, the Fund remained resilient in delivering results of ensuring electricity access for off-grid rural Malawi. The Fund has disbursed more than 79% of the committed loan amount and provided new electricity connections to more than 460,000 beneficiaries (2.3% of the population).
The Fund provides market-based lending and RBF grant support to private off-grid solar companies in Malawi with the support from The World Bank. Because of the Fund, Malawi is now the fastest growing off-grid energy market in East Africa. Housed within the Ministry of Energy-Malawi and managed by a private sector Fund Manager, the Fund shall continue to work with the companies to ensure electricity access to 200,000 households through off-grid solar products by June 2025.
celebrating the achievement of electrifying more than 100,000 households in just nine months!
