M-KOPA Appoints New Board Chairman to Replace Kibati
Energy company M-KOPA has appointed Elizabeth L. Littlefield as its new Board Chairman. Ms LittleField takes over from Mugo Kibati, who steps down, following his recent appointment as CEO at Telkom Kenya.
Ms Littlefield has been on M-KOPA’s Board since 2017. From 2010 to 2017, she was President and CEO of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution. During her tenure, OPIC expanded its portfolio to USD24 billion, doubled its investment in Sub-Saharan Africa and grew renewable energy investments 10 fold. She has also had leadership roles in investment banking and with the World Bank.
Ms Littlefield, Board Chairman, M-KOPA says, “M-KOPA is upgrading lives by making millions of people healthier, wealthier and more productive. I had the pleasure of meeting with customers in Kenya last week and it is clear that the company has made a hugely positive impact. We have a responsibility and an opportunity to deliver even more. I know our team shares a passion for serving our customers and inventing new productive uses for our platform.”
During Mr Kibati’s tenure as Board Chairman, M-KOPA unveiled a range of new upgrades including digital TVs, Internet-enabled smartphones, fridges and financial services. It cemented its leadership of the “pay-as-you-go” solar industry globally. It has now also emerged as one of the biggest Internet of Things (IOT) companies in Africa – thanks to its range of connected appliances.
M-KOPA has provided over one million products to nearly 700,000 homes and micro businesses. The company has calculated that 23 per cent of all customers are putting M-KOPA to productive uses, generating an average of US$ 65 per month in additional income for each of these subscribers.
Jesse Moore, CEO at M-KOPA concludes, “I am delighted that Elizabeth will be Chairman for this next chapter in our growth story. Her global experience will be important as we continue to expand into new markets and launch new products. On behalf of the M-KOPA team, I’d like to thank Mugo for his vision and leadership. The whole industry owes him a debt of thanks for his tireless work with governments, partners and investors to establish off-grid solar as a recognised part of the power mix, as we endeavour to meet our ambitious universal electrification goals.”