Mobisol files for preliminary insolvency

Mobisol, a provider of off-grid solar systems in Kenya, Rwanda and Tanzania, has filed for preliminary insolvency proceedings under self-administration in its home country of Germany. The move will allow the company to restructure its operations and bring on new investors with whom it has been in discussions since January this year. Mobisol’s operations will continue uninterrupted as it goes through the restructuring process.

Mobisol has attracted capital investment from several high-profile investors including Investec Asset Management, FMO, the IFC, FinnFund, and DEG, who are estimated to have invested between $80 million and $90 million of debt and equity capital in the company between them since its founding in 2011. It is unclear the extent to which their investments have been negatively impacted.

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