Invest Solar Africa plans to list on BSE
Invest Solar Africa (ISA) has set foot in Botswana emboldened by its success in reaching advanced stages in setting up two 20 MW plants in Zimbabwe which can power up to 45,000 households, and other positive developments in Zambia, Mozambique and Namibia. In Botswana, the unique business model will provide an opportunity for local investors to explore its merits for partnerships and equity, as is the case elsewhere in some of its regional operations. ISA is one of the first renewable energy companies that have specifically been set up to develop renewable energy projects and own them within a corporate set up. “The unique composition of being pro-environment, green, and pro-clean energy in a corporate set up is rare. It is truly a first to find a group of entrepreneurs, investments experts; engineers, and clean energy thinkers design a pragmatic solution of powering Southern Africa within a corporate set up. It’s a unique opportunity for diverse stakeholders in the age of seeking alternative sources of energy to drive economic prowess and reduce dependence on fossil fuels,” says George Manyere the founder and Non-Executive Director of Invest Solar Africa. This development comes against the backdrop of growing power challenges in the region that have bedeviled Southern Africa for decades with limited success. ISA’s mandate ensures it focuses on renewable energy, developing, maintaining and financing income in building solar parks across Africa as an alternative energy source. “Amid growing energy shortages, high demand for power in the region, and the consequent effect of this on regional consumers we need to tap onto a sustainable energy. We will power the region and ensure that no consumer is left powerless in the next 15 years. Tapping onto natural clean energy be it wind, sunlight and air should be the strategic focus for Africa for us to be energy self-sufficient and independent,” says Manyere. ISA plans to list on the BSE to drive its ambitious agenda to establish and install solar photovoltaic plants, which are expected to generate a capacity of 200MW in five years. The ISA project has been underway in countries such as Zimbabwe, Zambia, Botswana, Namibia and Mozambique is at different levels of completion for each country. For the regional thrust ISA has set up a competent team of investors, engineers, entrepreneurs and strategists. Combined they have managed unique competences in solar parks, clean energy and investments. These are; George Manyare – Founder & Non-Executive Director, Ainos Ngadya –Chief Executive officer, Dudu Garekwe – Deputy Chief Executive Officer and Brain Chindondondo the Chief Operating Officer. “My vision is to have the opportunity to build a 50MW solar park in Botswana in the next three to five years. We will capitalise on the global political and financial will as demonstrated by The Paris Agreement on Climate Change which is to be implemented November 2020, as we set our eyes on the rest of the continent,” he says. The Company is hopeful to be listed under the Botswana Stock Exchange in future. The management is urging potential local investors to partner with the company on their quest to achieving the country’s Vision 2036 pillar of Sustainable Environment and on making Africa eco-friendly, after its application has been approved. Invest Solar Africa is a wholly owned subsidiary of MHMK Capital, a private equity investment and advisory firm.