This archive report was first published on 11 December 2019.
December 11, 2019, marked a significant milestone for former Kenya Airways CEO Mbuvi Ngunze as he landed a plum job in South Africa. Ngunze has been appointed as the chairman of Mettle Solar Investments, a power company that provides energy solutions to its clients across Africa.
Gridworks, a firm that made an investment in Mettle, announced the appointment of Ngunze to the board. The investment, worth $7.2 million, is the first for Gridworks since its launch in June 2019. Mettle currently has 34 projects in operation in South Africa, Namibia, Kenya, and the Indian Ocean islands, with a further 2.3MW under construction.
“There’s a clear need for a reliable power supply to businesses across Africa, with the continent’s commercial and industrial customers crying out for stable, affordable green energy,” Ngunze said in a statement. “With the new investment announced today by Gridworks, I believe that Mettle can expand into new African markets, meeting the growing needs of businesses, while helping to combat climate change.”
Ngunze left Kenya Airways in 2017 after backlash from labor unions for the poor performance of the airline, which had sunk into heavy losses. He has since been appointed as a senior adviser with Catalyst Principal Partners.
Gridworks’ investment in Mettle is expected to drive the firm’s continental growth ambitions. The company plans to grow its presence in Africa, where it has projects in just a handful of countries.
