In a groundbreaking alliance designed to transform the African digital landscape, a powerful partnership was announced today at the 2023 UN Climate Change Conference. Curvalux, United Cities and Local Governments of Africa (UCLG Africa), and Pegasus Capital Advisors have executed a memorandum of understanding (MOU) with the intent to bring sustainable, solar-powered broadband technologies to millions of Africans, fostering economic growth and improving the overall quality of life in communities where access to the internet is unreliable or non-existent.
Curvalux, a manufacturer of solar-powered innovative fixed wireless access (FWA) broadband technologies, is partnering with UCLG Africa, a confederation of African cities and governments encompassing 16,000 townships and cities. With Pegasus Capital Advisors, a leading global equity fund manager accredited by the Green Climate Fund, the partnership aims to build the necessary FWA technology infrastructure to bring sustainable high speed broadband services to up to 350 million African citizens who lack access to reliable, life-enhancing connectivity.
Africa is among the planet’s last regions where the lack of internet services severely impacts the lives of billions of people. Without the internet, opportunities for remote work, education, telemedicine, knowledge, economic development and simply staying in touch with loved ones are impeded. This unique, synergistic partnership seeks not only to sustainably connect millions of Africa’s neglected and unconnected, but also to create a sustainable and resilient model for small business owners to hire, manage, maintain and grow their own local broadband access business.
Curvalux intends to provide fixed wireless equipment, backhaul, power systems, site infrastructure and technical and business training. UCLG Africa has the local expertise to help navigate the due diligence, implementation, and regulatory hurdles to help bring this partnership into high gear and identify communities for rapid deployment. Pegasus aims to provide the funding and financing to bring reliable, fully solar powered, sustainable wireless internet connectivity to homes, businesses, schools, hospitals and public services.
Curvalux CEO Richard Pak describes the opportunity, “Our highly energy-efficient fixed wireless access technology leverages solar-power to mitigate the lack of electricity or high electrical costs in Africa. This innovation underscores our dedication to sustainability, aiming to reduce carbon footprints and promote a greener, more sustainable future. This impactful partnership is also a catalyst for creating a viable, self-sustainable local business for the African communities. We achieve this by providing training, enabling communities to operate and maintain the internet service locally. This not only creates jobs but also brings economic benefit to the community while delivering quality internet service for its local citizens.”
“UCLG Africa’s deep-rooted expertise in navigating the intricate landscapes of Africa enables us to cut through red tape and adapt quickly to regulatory and political environments”, UCLG Africa Secretary General Jean Pierre Elong Mbassi added. “We are excited to collaborate with Curvalux’s team to swiftly implement transformative projects that make a positive impact on our communities for millions of Africans, create jobs and empower entrepreneurs across our continent, particularly for the creative youth.”
Today’s partnership intends to be backed by the Subnational Climate Fund (SCF) – a global investment fund, managed by Pegasus Capital Advisors, that aims to support and scale midsize, resilient, low-carbon infrastructure and solutions in developing countries.
Craig Cogut, partner and chairman of Pegasus Capital Advisors mentions, “This partnership is a perfect example of the kind of extraordinary collaborations that Pegasus and the Subnational Climate Fund actively pursues for investment. We are dedicated to supporting companies and sustainable technologies capable of creating tangible, enduring impacts in the communities they serve and addressing challenges such as closing the digital divide in Africa.”
The partnership was announced at the COP28 Local Climate Action Summit. The Local Climate Action Summit is sponsored by Bloomberg Philanthropies, dedicated to subnational communities, and aims to highlight local-level work to meet broad climate goals.
About Curvalux: Curvalux is committed to reducing the carbon footprint of the mobile industry through innovative, climate-friendly technologies. The company’s fixed wireless access equipment provides an environmentally sustainable solution to expand internet connectivity to underserved regions. Learn more at www.curvalux.com.
About Pegasus Capital Advisors, L.P.: Pegasus Capital Advisors is a leading global private markets impact investment manager, dedicated to fostering sustainable and inclusive growth. As the first U.S. private equity fund manager accredited by the Green Climate Fund, Pegasus invests in companies and technologies that aim to make a measurable, long-lasting impact. Explore more at www.pcalp.com.
About UCLG Africa (United Cities and Local Governments Africa): UCLG Africa is the united voice of local governments in Africa, representing over 2,000 townships and cities. With a membership of 51 national associations and 2000 cities, UCLG Africa is committed to promoting sustainable urban development. Discover more at www.uclga.org.