Malawi Ngwee Ngwee Ngwee Fund Company Profile, Contacts & Intelligence

Malawi Ngwee Ngwee Ngwee Fund Overview

The Government of Malawi (GoM) has prioritized the development of the energy sector as an enabler to the achievement of Malawi 2063 and to accelerate access to reliable energy for the socio-economic development of the country. To help the GoM to achieve this access target, the World Bank has provided financing for the implementation of the Malawi Electricity Access Project (MEAP) with the objective of increasing access to electricity from 18% to 30% of the population in Malawi. MEAP is implemented by both the Ministry of Energy (MoE) and ESCOM. The MoE is specifically responsible for establishing and operating an Off-Grid Market Development Fund (OGMDF) or Ngwee Ngwee Ngwee Fund (NNNF) which is to drive the urgent provision of energy access and to scale up the off-grid solar market. OGMDF is currently offering a USD 6 million Results-based Financing (RBF) Grant and a USD 14 million Debt facility for Off-Grid Solar (OGS) companies to reach at least 200,000 new households with OGS products in Malawi by June 2024.

Headquarters

Mw

Industry

Financial Services

Founded

2022

NAICS

Finance and Insurance, Monetary Authorities-Central Bank

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