Congo’s Planned $500 Million Off-Grid Fund to Start Disbursing

The World Bank-backed Mwinda Fund, which could become Africa’s second-largest financial facility for off-grid power projects, expects to start disbursing money in the Democratic Republic of Congo in the first quarter of next year.

The fund, to be managed by GreenMax Capital Group and grow to $500 million over three years, aims to boost electrification in a country with the world’s second-largest number of people without access to power after Nigeria.

The facility is part of a World Bank-backed program known as Mission 300 that seeks to connect 300 million people in Africa to electricity by 2030 by investing ...