Global sustainable energy ornaisation, the
Sustainable Energy for All (SEforALL), has announced signing of grant agreements with 19 Nigerian clean energy developers under its Results-Based Financing (RBF) multi-donor fund.

The agreement, which has the endorsement of Universal Energy Facility (UEF) and Stand-Alone Solar for Productive Use (SSPU) programme, will see the deployment of high-capacity solar and battery storage systems to businesses and institutions across Nigeria.

Interim Chief Executive Officer, Global Energy Alliance for People and Planet (GEAPP), Joseph Nganga, who made the announcement, said the systems are expected to be fully installed and operational before the end of this year.

“This marks a significant step forward in our shared vision for a sustainable future. By signing these grant agreements, the UEF is truly making a difference by empowering clean energy developers to bring their innovative solutions to life,” Nganga said.

“I’m incredibly proud of the UEF’s work and excited to see the positive impact these projects will have on many lives.”

He further noted that reliable clean electricity for homes, SMEs, and institutions, will go a long way to transform daily life of users and the society.

“Electricity stays on, harmful petrol and diesel generator sets will be removed, which reduces indoor air pollution and CO2 emissions, equipment runs smoothly, and essential services like healthcare and education can function effectively. This unlocks economic opportunities and improves overall well-being,” he said.

“I am proud of the work we have all done to enable a better environment for the private sector to grow within the energy sector.”

Managing Director of Nigeria’s Rural Electrification Agency, Abba Aliyu, who also spoke on the agreements, said the SSPU systems are game-changers.

“The companies signing the grant agreements are a testament to the policies that have been put in place and capacity building efforts made in the past decade to build the sector.

“These solar power systems provide a reliable source of electricity, unlocking a range of socio-economic benefits.

“This significant expansion builds upon the success of the UEF’s initial launch of the SSPU programme in February 2023 when 10 developers received grants to deploy SSPU units in underserved or unserved communities.

“So far, over 1,600 systems have been installed, serving over 1,200 businesses and institutions such as health and educational facilities.”

The UEF has achieved significant progress over the past year, not only in Nigeria but also in Benin Republic, the Democratic Republic of the Congo, Madagascar, and Sierra Leone, with thousands of Africans benefiting from this facility.

South Africa-based asset management company, Rohatyn Group, has announced the sale of its beverage manufacturing and distribution firm, Beverage Company Proprietary Limited (BevCo), to India-based Varun Beverages Ltd (VBL), the makers of popular fizzy drink, PepsiCo.

BevCo, which was established in 2018 through the acquisition and merger of Little Green Beverages and SoftBev, has consolidated its position as the largest independently owned beverage producer and distributor in South Africa.

BevCo, with a wide portfolio of its own brands and energy drinks as well as franchise rights from PepsiCo in South Africa, Lesotho, and Eswatini, and distribution rights for Namibia and Botswana,
operates five manufacturing facilities across South Africa with an installed capacity of 3,600 bottles per minute.

BevCo CEO, Peter Spies, who announced the deal, said in a statement:

“Management and shareholders had a clear long-term aspiration for the business and remained focused on accelerating the execution of new revenue streams and building scale, while retaining alignment with key stakeholders.

“The sale of BevCo to Varun Beverages has proven that scaled South African businesses have the potential to attract global trade players to the continent.”

Also reacting to the deal, Glynn Potgieter, Managing Director at TRG, and board member of BevCo, said:

“The macro conditions in our markets continue to pose challenges to sale processes.

“We believe successful realization strategies require years of strategic planning and building businesses that have unique, identifiable, and realizable value to a known universe of acquirers.

“We are convinced that successful exit processes in these challenging markets require skilled negotiation, resilience, tenacity, and, above all, a collaborative mindset.

“Since 2018, the number of total employees at the company has increased nearly four times, and the company reached gross sales of approximately 63 million cases per year.

“The product offering also expanded, adding the manufacturing and distribution of PepsiCo brands in the region.

“The company has achieved growth through innovation in its products and services, regional expansion, and a focus on sustainable business practices.”