Togo: Swiss Solar Firm MPower Secures €1.1M to Expand in Africa

Energy

Tuesday, 18 March 2025 17:46

Togo: Swiss Solar Firm MPower Secures €1.1M to Expand in Africa

(Togo First) - MPower Ventures AG, a Swiss solar energy company active in several African countries, including Togo, has secured €1.1 million in funding from the Foundation for Clean Energy and Energy Inclusion in Africa (CEI Africa). The investment, a combination of equity and subordinated loans, aims to support MPower’s expansion across the continent.

The company plans to use the funds to strengthen its operations in Togo, where it already distributes solar products such as electric pumps, panels, security floodlights, and energy storage systems. With this boost, MPower intends to expand its distribution network and offer more financing options to make solar energy accessible to households and small businesses.

MPower operates in seven African countries and has sold over 50,000 units of solar equipment. The funding was secured in collaboration with crowdfunding platforms Klimja and Republic. Manuel Seiffe, MPower’s co-founder and CEO, emphasized the transformative potential of solar energy, stating: “Solar energy, coupled with appropriate financing solutions, is one of the most effective levers for stimulating economic development in sub-Saharan Africa.”

In Togo, the solar energy sector is growing rapidly, with companies like Kya Energy Group, SOLEVA, BBOXX-EDF, and CREFER also providing various solar solutions. With this new funding, MPower aims to solidify its position in this competitive market.

This article was initially published in French by Ayi Renaud Dossavi

Edited in English by Ange Jason Quenum

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.