British International Investment (BII) – a founding partner of the Africa Resilience Investment Accelerator (ARIA) – is investing $7 million in MOPO, pay-as-you-go battery rental business in the Democratic Republic of Congo (DRC).
The company installs solar-powered recharging hubs, which rent MOPO batteries to customers to use in their homes and small businesses. So far, the company has reached more than 23 million people and this investment will enable them to reach a further 1 million.
ARIA’s on-the-ground team in the DRC provided close support on this deal. Vivianne Infante, BII’s co-lead for ARIA, said:
“We’re very proud to have worked on this investment in MOPO. The company is a great example of the innovative and sustainable businesses operating in the market, and the transaction underlines how ARIA is helping mobilise capital for companies in frontier markets across the continent.”
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