Mobisol, the provider of off-grid solar home systems in Africa which was backed by Investec Asset Management in October last year, is making a deal of its own and acquiring Lumeter, the pay-as-you-go software company based in Nairobi. Mobisol also counts the IFC and FMO among its investors.
Mobisol sells its products under a three-year payment plan, with entry-level systems costing approximately the same as its typical customer would spend on kerosene, candles, batteries and mobile phone charging services. As well as making the systems affordable, in a significant number of cases, Mobisol’s customers can generate an income from their solar home system, selling electricity on to others.
To date, Mobisol has installed 10 megawatts of capacity in Tanzania, Rwanda and Kenya. By linking up with Lumeter, the company estimates that its services now provide clean, reliable and affordable power to over 500,000 people. Mobisol sees the acquisition as being a key step in the firm’s plans to expand the pay-as-you-go market for its off-grid partners and other technologies
“While pay-as-you-go software pioneers like Lumeter and Angaza Design have very successfully paved the way to meet consumer needs, we will now be able to take this approach to a new level, offering opportunities to manufacturers and distributors on a larger scale” Stefan Zelazny, Mobisol’s Chief Innovation Officer said in the statement announcing the deal. “We are able to provide a hardware agnostic software suite that makes major consumer and commercial implementations possible.”