Plumbing Africa February 2018 | Page 21

AFRICAN ENERGY records — and hence, default rates — will become known to other funders who should be able to lend to more off-grid energy suppliers on a portfolio basis. “This will rapidly increase the acquisition of this energy technology in Africa, placing affordable at-home off-grid power generating capacity in individuals’ hands,” says Lovell. Since various sources of research confirm a positive correlation between energy use and economic growth, off-grid solutions are expected to have a measurable positive impact on the broader economy. The improved affordability of the technology, with most solar units being the size of an A4 piece of paper, has resulted in businesses like M-Kopa no longer having to rely solely on equity funding like other start-ups. Instead, the affordability of the product, along with the scale of take up, means that M-Kopa has been able to expand its funding sources to include substantial commercial bank finance. “For Stanbic Bank, supporting M-Kopa in raising their single-largest debt funding ever, entirely against their own balance sheet, was a landmark transaction in a new and rapidly changing sector,” says Lovell. By helping M-Kopa evolve and grow their funding to include significant commercial bank lending, “Stanbic Bank proved a critical enabler in bringing innovative financing to an industry crucial for economic growth in Africa,” adds Lovell. PA 19 Since a large portion of Africa’s population lives in remote and rural areas, receiving power from the grid could still be decades away. Africa Energy Indaba announces strategic partnership The Africa Energy Indaba has announced a strategic partnership with the South African Electrotechnical Export Council (SAEEC). By Africa Energy Indaba The purpose of the partnership is to grow and develop the African energy sector with the SAEEC member companies. “We are delighted to partner with the Africa Energy Indaba, an event that is produced by Africans for the benefit of the African energy sector,” said Chiboni Evans, CEO of the SAEEC. The SAEEC is a public-private partnership between South African business and the Department of Trade and Industry (dti), established to facilitate the export growth and internationalisation of its members. The partnership creates an opportunity for the SAEEC to be recognised as the Trade Association Partner of the Africa Energy Indaba 2018 (AEI 2018). The AEI is supported at a strategic level by the World Energy Council (WEC) and this event constitutes the annual WEC Africa Forum. In its 10th year of operation, AEI 2018 is the meeting place for African energy ministers and other energy sector leaders and experts www.plumbingafrica.co.za from the African continent. “The value for our member companies participating at this 10th edition of AEI is measurable, and the aim is to link SAEEC members companies such as ABB, Powertech, and Actom to other African businesses, projects, or utilities attending the event to conduct business in the energy sector,” added Evans. At AEI 2018, the SAEEC will profile companies drawn from its membership base representing South African companies that are highly regarded as solution providers for power and telecommunications infrastructure projects in Africa. As part of the Trade Association Partnership, the SAEEC is proud to announce that, with the support of the dti, they will also be hosting high-level delegates from various African countries, including Zambia, Kenya, Sudan, Mozambique, and Tanzania at AEI 2018. “We believe the Africa Energy Indaba 2018 will be a conduit for the dti mandated, investment-led export drive into the African continent,” concluded Evans. PA We are delighted to partner with the Africa Energy Indaba, an event that is produced by Africans for the benefit of the African energy sector. February 2018 Volume 23 I Number 12