Mergers and acquisitions as a path to financial sustainability of mini-grids

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Minigrids need scale to become profitable — and mergers & acquisitions (M&A) can be a powerful way to get there fast. But what does it really take to acquire or merge with another mini-grid company? How do you structure a deal that works?

In this episode, host Kellie Murungi (INENSUS) sits down with Matthew Orosz (OnePower) and Prosper Magali (Ensol), who share firsthand insights from their recent M&A experience. Together, they unpack the challenges, breakthroughs, and practical lessons from the deal-making process.

We also hear from legal expert Cynthia Opakas (Greenmax), who offers strategic advice on how to structure M&A transactions to ensure success and sustainability.

This episode was recorded live at the 8th Mini-Grid Action Learning Event, held in Lusaka from April 1–3, 2025.

LinkedIn: https://www.linkedin.com/company/inensus-gmbh/mycompany/
Twitter: INENSUS (@INENSUSgmbh) / X (twitter.com)
Visit www.inensus.com for more info.

Chapters

1. Mergers and acquisitions as a path to financial sustainability of mini-grids (00:00:00)

2. Mini-Grid Electrification Wave Introduction (00:00:37)

3. Setting the Stage for Sustainability (00:01:28)

4. Key Factors for Mini-Grid Success (00:05:01)

5. Regulatory Frameworks and Financing Structures (00:07:38)

6. Mergers and Acquisitions Explained (00:11:48)

7. Valuation and Due Diligence Process (00:17:50)

8. Creating Joint Ventures to Cross Borders (00:28:28)

9. Community Relations After Consolidation (00:43:11)

10. Mission 300: Requirements for Scaling (00:55:40)

11. Episode Closing and Final Thoughts (01:03:10)