Proving the viability of Madagascar’s mini-grids. (Image source: CrossBoundary Access)

CrossBoundary Access and ANKA have completed the acquisition of an asset company owning four operational mini-grid projects developed, built, and operated by ANKA in Madagascar

ANKA is a mini-grid developer, while CrossBoundary Access describes itself as Africa’s first blended finance platform for mini-grids.

The Madagascar portfolio comprises 1.7MW of solar PV and 5.6MWh of battery storage, serving thousands of customers across the Atsimo-Andrefana region.

“This acquisition demonstrates our confidence in Madagascar’s mini-grid market and ANKA's proven track record,” said Gabriel Davies, managing director, CrossBoundary Access.

“It shows that best-in-class mini-grids developers, working with supportive government policies and donor support, can deliver both impact and commercial returns.”

The acquisition is the first phase of a US$20mn partnership announced by Access and ANKA in June 2025.

Together, the two sides will finance, build and operate mini-grids to provide power to over 62,000 people across Madagascar, aligned with national energy priorities and the Mission 300 Initiative.

CrossBoundary Access becomes new majority shareholder alongside ANKA which remains a shareholder of the asset company.

The two companies aim to demonstrate that decentralised infrastructure can reach scale, liquidity, and profitability — all while delivering universal energy access and complying to the highest technical standards.

In a statement, CrossBoundary Access noted that Madagascar presents a “compelling investment opportunity for mini-grid infrastructures.”

It added: “With a national electrification rate of 36%, and a rural electrification rate of 15%, and clear regulatory framework, the Malagasy market has established the foundations for private sector energy access solutions.”

It noted that the transaction paves the way for more developers and investors to structure similar microgrid partnerships, with a “replicable example” of how to align early-stage venture capital, concessional funding, project cashflows, and local developer capacity.

Camille André-Bataille, founder and CEO of ANKA, called it a signal to the market.

“It supports the business model of developers, and shows that when execution meets ambition, the developer itself becomes investable. This is what the sector needs to grow: unlocking corporate finance for developers who can replicate these successes across multiple geographies.”

Read more:

Sierra Leone solar mini-grid project

Solar mini-grids could power 8.5 million Zambians by 2030

https://africanreview.com/energy/grant-funding-approved-for-12mw-eritrea-mini-grid-project

Pulse is a software backbone for companies delivering financed products, initially powering Bboxx’s services in Africa and now expanding to other businesses. (Image source: Bboxx)

Abci-Nexus, the technology-enabled holding company, has introduced Asopo Technologies, bringing its proprietary Pulse software to market as a standalone offering

The holding company also includes Bboxx, a retail and consumer credit company focussed on the provision of essential services across Africa.

Building on the legacy of Bboxx built up over 15 years, this latest move by Abci-Nexus marks a major evolution for the group and is designed to accelerate scale, impact, and long-term value creation across its markets.

Under the new company architecture, Bboxx will continue as the group’s retail and consumer credit business, headquartered in Kigali and focussed on serving aspiring urban and underserved rural customers with clean energy, clean cooking, smartphones, e-mobility and selected financial services, using pay-as-you-go and other asset-financing models powered by Pulse.

The new company Asopo Technologies will commercialise and scale Pulse, the group’s fully integrated operating system originally designed to run Bboxx’s distributed operations, into new geographies and across multiple sectors, developing a leading B2B SaaS platform for asset-financed products in growth markets.

Anthony Osijo, group CEO, Abci-Nexus, said, “This marks a new beginning for the company. This structure allows each part of the group to focus on what it does best. Abci-Nexus will concentrate on capital, partnerships and governance; Bboxx on delivering reliable products, great service, and meaningful impact for households, businesses, and communities; and Asopo Technologies on building world-class scalable software. By focussing on our strengths in each vertical, we can improve quality and efficiency, scale faster, and further catalyse our impact.”

Pulse integrates mobile money, device and asset tracking, and credit operations into a single AI powered platform, improving customer quality and operational efficiency for Bboxx and its partners. Asopo Technologies takes its name from the Yoruba word for “connection”, reflecting its role in connecting people, data, and finance.

Christopher Baker-Brian, co-founder and chief technology officer, Bboxx and Managing Director, Asopo Technologies, remarked, “Pulse has always been the digital backbone powering Bboxx’s growth for more than a decade, enabling us to build and scale distributed, asset-financed businesses in some of the world’s most complex markets. By spinning it out under Asopo Technologies, we can offer the same infrastructure to other companies. Our goal is to make building and scaling asset-financed businesses in emerging markets dramatically easier, across Africa and beyond.”

Pulse already processes millions of transactions a month, connects thousands of agents, and supports the delivery of clean, affordable energy and connectivity to more than six million people.

Representatives of Abci-Nexus’s shareholder consortium, who include PIDG (Private Infrastructure Development Group) said, “As long-term investors, we are fully aligned behind this next chapter for Abci-Nexus. Over the past two years we have worked closely with the leadership team to strengthen the group, sharpen its strategic direction, and position it for sustainable growth. The new architecture provides the clarity, focus, and operational discipline needed to unlock the full potential of Bboxx, Asopo Technologies and the wider portfolio. We remain committed to supporting Abci-Nexus as it scales its impact, deepens market penetration, and delivers life-changing products and services to millions more people.”

Abci-Nexus is, through its portfolio companies, already positively impacting the lives of more than six million people in seven operating markets, directly contributing to 12 of the 17 UN Sustainable Development Goals. It is one of the largest retail networks in Africa, with more than 3,000 staff across the continent and support teams in Europe and Asia.

Hybrid microgrids disrupting mining energy economics (Image source: Adobe Stock)

Emissions cuts matter as much as ore grades in an era defined by energy security and climate accountability, according to Etienne le Roux, business development manager – mining at Aggreko.

Here, he examines the value of hybrid microgrids in resolving costs, energy expectations and climate compliance:

Working with mining companies across Africa and other remote regions, Aggreko sees firsthand how hybrid microgrids are reshaping the economics, resilience and climate performance of modern mining operations.

Hybrid power is emerging as one of the fastest environmental, social and governance (ESG) and financing wins in the mining sector. It cuts emissions and costs effectively while mitigating energy security risks, improving an organisation’s bankability and investor appeal.

These hybrid microgrids have the potential to reduce diesel consumption at remote mines by as much as 40-60%, which translates into millions in annual fuel savings and operating costs. And the decarbonisation gains from hybrid microgrids increasingly matter as much as ore grades as lenders, equity investors and stakeholders screen projects and spend on both financial returns and credible transition pathways.

In today’s investment environment, emissions performance has become inseparable from project value. In Africa, mining is entering a decisive new phase because the global energy transition has made it strategically unavoidable to prioritise ESG. The irony is that many of the deposits essential to this transition are isolated, far from national grids, making it challenging for companies to maintain reliable power.

The power systems enabling the supply of future-facing minerals are often anchored in diesel, which has been the default solution for decades as it’s mature, reliable and can be rapidly deployed in modular blocks, allowing for production to start quickly in remote locations.

However, today’s diesel reality carries high costs, volatile fuel logistics and increased scrutiny as a major contributor to Scope 1 emissions. The economics of energy, the tightening expectations of investors and lenders, and the growing influence of downstream buyers who now care how minerals are produced are also putting pressure on companies to change their energy approaches. Energy decisions are no longer operational alone; they are financial, reputational and strategic.

The financial exposure of diesel is also a challenge, particularly when operating off-grid. Every litre has to be trucked, piped or shipped to a site across insecure or poorly maintained transport networks, adding layers of cost and operational risk. Delivered fuel prices at remote EMEA sites frequently exceed international benchmarks once the costs of transport, security and handling are added – the World Bank study found that the cost of diesel and petrol for generators is around $40-$50bn a year at $0.40 to several dollars per kWh in remote locations.

The hybrid microgrid is a strategic step away from this reliance. Designed to integrate solar generation, battery storage and flexible thermal assets under advanced control systems, hybrid microgrids allow mines to displace significant diesel volumes without compromising reliability.

Hybrid solutions have also gained momentum because the economics of renewables have changed measurably over the past few years. Utility-scale solar costs in many parts of Africa have fallen below $0.08 per kWh, with some competitive procurements achieving prices as low as $0.05 per kWh[2][3]. The challenge is no longer cost; it is how to deploy and optimise these assets while maintaining uninterrupted operations.

As a result, this integration quickly becomes an essential part of a mine’s investment profile. Mining’s license to operate increasingly relies on demonstrating that ESG responsibility, and Scope 1 emissions are being adopted into due diligence. Emissions reduction is becoming a signal of management quality, long-term risk control and resilience, which is why mines that reduce diesel dependence are gaining improved access to sustainability-linked finance and preferential terms for offtake agreements.

A mine’s power strategy can strengthen or weaken its financing narrative, and hybrid microgrids offer one of the fastest ways to show measurable progress. Importantly, this transition is not theoretical. Working with mines across Africa, Australia, Europe and the Middle East, Aggreko has deployed hybrid microgrids that deliver immediate cost savings alongside improved reliability and lower emissions.

Aggreko has demonstrated savings of up to 40% compared with diesel-only systems, offering mines both cost stability and decarbonisation within credible and reliable energy infrastructure. With advanced controls and built-in redundancy, hybrid microgrids can achieve more than 99.9% uptime. For emissions, a typical mid-sized mine can save 50,000–100,000 tonnes of CO₂ annually, improving its carbon footprint in a way that is visible and auditable.

This transition isn’t frictionless, however. Financial and capital allocation constraints, regulatory complexities, security and supply chain risks, as well as limited expertise to manage hybrid systems, make it a careful and strategic investment. This is where working with an experienced energy partner becomes critical.

Aggreko is a practical partner for mines trying to navigate this move, offering flexible commercial models such as PPAs and OPEX-led structures alongside rapid deployment with modular systems and the ability to optimise thermal assets while layering in solar and battery storage. Aggreko is the step between, bringing the expertise and the solutions into a simplified solution that makes it easier and faster for companies to benefit.

This is the pivot facing Africa’s mining sector now. Mines can remain dependent on high-cost, carbon-intensive diesel generation, or transition to hybrid microgrids that provide reliable, low-carbon energy at lower cost. And because hybrid microgrids simultaneously address cost, emissions, reliability and investor confidence, they represent one of the few interventions capable of unlocking multiple benefits at once, rather than incrementally.

Read more:

Uganda's extractives industry: the electrification imperative

Sany commences Zimbabwe mining solar power project

Powering sustainable dairy production in South Africa

Renewable energy and infrastructure propel MENA's SAF growth

The Middle East and North Africa (MENA) region could emerge as a global leader in sustainable aviation fuel (SAF) production and trade, according to a new white paper examining the region’s feedstock, infrastructure and policy advantages.

While SAF production is currently concentrated in Europe and North America, the paper, published by the SAF MENA Congress, argues that MENA has a unique opportunity to scale both biobased and synthetic fuels at pace, driven by abundant renewable energy, established hydrocarbon infrastructure and strong domestic aviation demand.

A central pillar of this potential lies in synthetic SAF, produced via power-to-liquids (PtL) pathways using green hydrogen and captured carbon dioxide. The region benefits from some of the world’s highest solar irradiation levels and growing wind capacity, enabling access to low-cost renewable electricity. This, combined with large-scale electrolysers and emerging carbon capture infrastructure, positions Gulf states in particular as highly competitive producers of e-SAF.

Unlike many regions facing land constraints and grid congestion, MENA can deploy renewables at scale and co-locate projects with industrial hubs, export terminals and aviation infrastructure. The paper highlights that existing refining, storage and pipeline assets can be repurposed for SAF, reducing costs and shortening project timelines.

The report also challenges assumptions that the region lacks viable biobased feedstocks. Urban waste, used cooking oil, animal fats and agricultural residues are identified as underutilised resources, particularly in Egypt and Turkey. In addition, desert-adapted biomass such as algae, halophytes and wastewater-grown crops could provide non-competitive feedstock options suited to arid climates.

Geography is another strategic advantage. Situated at the crossroads of Europe, Asia and Africa, MENA already hosts some of the world’s busiest aviation hubs. Short shipping distances, established fuel trading ecosystems and high volumes of long-haul refuelling make the region well placed to become a global SAF bunkering and export centre as international mandates tighten.

Policy alignment and access to sovereign capital further strengthen the region’s position. Several governments have adopted net-zero targets, hydrogen strategies and state-backed aviation offtake, creating conditions for large-scale investment and accelerated deployment.

The white paper concludes that SAF leadership will be determined not by technology alone, but by scale, cost and speed. With rising global demand and regulatory pressure, the question is no longer whether MENA can play a major role in aviation decarbonisation, but how quickly it chooses to do so.