MPower Ventures, a Swiss-based energy startup, has raised $2.7 million in fresh funding to accelerate its mission of providing affordable and sustainable energy solutions across Africa. The investment round was led by Swiss and international impact investors focused on driving clean energy access on the continent.
The funding came from Foundation for Clean Energy and $1.1 million from Energy Inclusion for Africa (CEI Africa), and the rest from crowdfunding platforms Klimja and Republic in a mix of equity and subordinated debt.
According to Manuel Seiffe, co-founder and CEO of MPower, “At MPower we are convinced that solar energy, coupled with finance solutions, is one of the most effective ways to boost economic development in Sub-Saharan Africa and fight energy poverty. We are excited about CEI Africa’s trust and support and look forward to working together. There is no doubt that CEI Africa’s match funding has catalyzed additional funding for MPower – crucial for our growth and expansion plans.”
The firm will use the funding to scale MPower’s operations in its core markets—Ivory Coast, Cameroon, Ghana, and Togo—and in Southern Africa where it has been deploying solar energy systems for households, SMEs, and social institutions.
Expanding Energy Access
MPower Ventures specializes in solar power solutions tailored for off-grid and weak-grid communities. Its solar kits, mini-grids, and Pay-As-You-Go (PAYG) models help bridge the energy gap for millions of underserved people in West and Central Africa.
The new capital will support the company’s efforts to expand its distribution networks, enhance its digital platform for remote monitoring, and strengthen partnerships with local financial institutions to offer affordable financing options for its customers.
Driving Impact
Since its founding in 2017, MPower has connected over 50,000 people to clean and reliable energy solutions. The company also aims to boost job creation by working with local technicians and sales agents, as well as supporting small businesses that rely on power for productivity.
“Our goal is to make sustainable energy solutions accessible and affordable for those who need them the most,” said Flavio Palaci, co-founder of MPower Ventures. “This funding will help us deepen our impact and reach more underserved communities across Africa.”
Africa’s Growing Off-Grid Market
Africa remains home to over 600 million people without reliable access to electricity, according to the International Energy Agency (IEA). Companies like MPower Ventures are playing a key role in addressing this challenge as governments and private sector players push for renewable energy solutions to support economic growth and climate resilience.
MPower joins a growing list of energy startups securing capital to tackle Africa’s off-grid energy deficit, with investors increasingly focusing on projects that drive social impact while delivering sustainable returns.
With over 50,000 solar products and appliances sold across seven countries—Zambia, Cameroon, Togo, Ghana, Namibia, Botswana, and Zimbabwe—MPower is now focused on scaling its presence in West and Southern Africa. The company aims to target markets with unreliable or non-existent grid infrastructure, catering to households and SMEs, including those in agribusiness and service sectors. CEI Africa’s funding will support MPower as it scales its operations and broadens its product portfolio, ultimately driving sustainable energy adoption across Africa.
Steven Evers, a Member of the Executive Board of CEI Africa, said “With CEIA’s support, we are excited to see MPower expand its impact across West and Southern Africa—bringing reliable, off-grid solar solutions to households and businesses in underserved markets. With this additional funding, MPower will be able to scale its efforts to drive sustainable energy where it’s needed most.”
In 2024, The Trade and Development Fund (TDF) under the Eastern and Southern African Trade and Development Bank Group (TDB Group) granted a $2 million term loan to MPower Ventures Zambia Limited to enhance access to modern and affordable energy solutions in Zambia by importing and retailing solar products to off-grid communities.
MPower Zambia was to establish 50 new rural energy hubs to enable communities to access energy for domestic and public purposes, such as lighting health centers, through last-mile extension of power from the hubs to nearby facilities. The project was expected to create 30 direct and over 500 indirect jobs, boost productivity and economic activity and improve livelihoods in areas without access to the electricity grid.
