October 4 (SeeNews) - UK-registered Investec Asset Management has bought a “significant shareholding” in Berlin-based, Africa-focused off-grid solar home systems installer Mobisol GmbH.
Mobisol announced the transaction in a statement today, but did not mention its value or the size of the stake acquired by Investec. CEO Thomas Gottschalk told Bloomberg that a roughly one-third stake has been transferred and that the value of the transaction was well above USD 20 million (EUR 17.9m).
At the same time, Mobisol’s existing shareholder Deutsche Investitions- und Entwicklungsgesellschaft mbh (DEG) has further increased its interest in the firm to an undisclosed level.
Mobisol offers solar systems that allow homeowners to charge mobile phones and power lighting, radios and stereos, TVs and other appliances. Since its inception, the company has installed more than 60,000 systems in Tanzania and Rwanda. It said that its new shareholder will help the firm expand in both its existing markets and into new ones. Mobisol is currently entering the Kenyan market.
(USD 1.0 = EUR 0.896)