MBABANE, Eswatini – The financial services giant Old Mutual is channeling significant support into Eswatini’s renewable energy sector through its involvement in the 20-megawatt (MW) Tsamela solar project. This utility-scale development represents a major push to increase the nation’s power generation capacity with clean, sustainable energy sources.
The company’s commitment was confirmed by Bell Nkhosibona, the Head of Business Development and Client Management for Old Mutual Investment Group (OMIG) Eswatini. Speaking at a recent stakeholder breakfast meeting, Nkhosibona highlighted the firm’s strategic focus on green energy. “We are actively exploring and pursuing renewable energy projects to enhance the country’s energy generation capacity and promote cleaner energy sources,” he stated.
Old Mutual’s support for the Tsamela project is being facilitated by its specialized infrastructure investment arm, African Infrastructure Investment Managers (AIIM). This move is part of a broader investment strategy by OMIG Eswatini, which managed assets totaling nearly E7 billion as of late 2023. This financial strength enables the group to engage in large-scale infrastructure projects that drive national development.
The Tsamela project aligns with a growing trend across the continent, where nations are making ambitious commitments to sustainable power. This mirrors efforts seen in other countries, such as Rwanda’s impressive 2030 energy goal and the remarkable 2024 rise in Malawi solar energy. The development of key infrastructure, including the impressive 10 MW plant in Malawi and the planned Mecufi Power Plant, signals a region-wide energy transition.
Market dynamics, including a stunning 519% jump in Nigeria solar imports, indicate soaring demand for solar components. Industry events like Solar Storage Nigeria 2026 foster vital collaboration, while innovative applications like a stunning solar giraffe installation show the technology’s versatility. For the industry to thrive, policy remains a key factor, with stakeholders closely watching as the critical ALMM solar cell norm extension ends in June 2026.
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