Investors and Partners
Epsilon Solar was founded in October 2017 to combine local investment and market expertise, solar and asset financing management skills and a strong social focus. The company is majority owned by Mozambican shareholders, led by Epsilon Investimentos S.A.
Epsilon Investimentos is a real estate and general investment fund in Mozambique. It is led by Dr. Magid Osman, one of Mozambique’s most respected commercial and political figures due to the range of his achievements throughout his extensive career. From 1986 to 1991, he was Minister of Finance of Mozambique and Minister of Mineral Resources of Mozambique from 1979 to 1983. He was non-executive director of Mercantile Bank, South Africa, from 2002 to 2007, as well as chairman of the Board of Directors and Executive Committee of Mozambques largest commercial bank BCI – Banco Comercial de Investimentos. He was director of the Management, Development and Governance Division at the United Nations Development Programme (UNDP), having directed the Programme with projects in over 60 countries. He is also Non-Executive Director of Galp Energia SGPS SA and member of the International Strategy Committee of Galp Energia. He was also a founder and has been chairman of the BIOFUND Foundation (for protection of biodiversity) since 2011, chairman of the Board of Directors of Épsilon Investimento since 2007 and chairman of the Board of Directors and Executive Committee of Tchuma Cooperativa de Crédito e de Poupança. He holds a degree in Economic and Financial Sciences from Instituto Superior de Economia e Gestao
Kevin Kennedy is an equipment and financing executive and entrepreneur with over 25 years of experience in leasing, mergers and acquistions, general management, equipment financing, solar distribution and PAYGO. He has previously held senior operational roles at GE Capital, Grenke Leasing [also invested] and Solar Now in Uganda [also invested]. Since 2011 he has been based in Africa and as a consultant has advised clients in the sector including MKopa, Simpa Networks and Lendable, as well as funders and multilateral development agencies including the World Bank, IFC, UNDP, EnDev and Microcred. He holds a masters degree in development economics from the University of Reading and further degrees from Louisiana State University and Trintiy College Dublin. He is a qualified accountant
Graca Machel is the President of the Foundation for Community Development (FDC), a not for profit organisation based in Maputo, Mozambique, which she founded in 1994. FDC makes grants to civil society organisations to strengthen communities, facilitate social and economic justice and to assist in the reconstruction and development of Mozambique
Emmett Costel who was a key figure in bringing the parties together is renewable energy consultant based in Mozambique with 8 years experience in the social enterprise and impact investment sector, and a comprehensive knowledge of the Mozambican energy market. Emmett is a graduate of Macalaster College in Minnesota
The Financial Sector Deepening Moçambique [part of the U.K.’s Department for International Development] is a facility for financial sector development with a focus on expanding levels of inclusion. Their investments and insights address constraints in the financial market, helping the diversification of Mozambique’s economy and bringing prosperity and economic resilience to Mozambique’s peopleTechnical Briefing on PAYGO. In December 2017, FSD Moc and EES signed a grant agreement for $100,000 to support the launch of the first pilot of digital finance based PAYGO solar in rural Mozambique