Power problems: Could solar solve Nigeria’s electricity woes?
All On in million dollar deal with Salpha Energy Limited
Sopuruchi Onwuka
Impact investment company, All On, has said it has entered $1.0 million investment deal with Salpha Energy Nigeria to scale the company’s solar home systems distribution business.
All On is funded by oil firm, Shell; and its solar power systems distribution is focused off-grid customers in rural and peri-urban areas across Nigeria.
The investment will be used to increase Salpha’s inventory and product range, expand sales channels and customer service infrastructure, and test more flexible pricing models to sustainably manage rural customers in states across Nigeria.
Founder and CEO of Salpha, Sandra Chukwudozie, stated that the support from All On would allow the company provide products for customers across the range of their developing energy needs.
Senior Investment Associate at All On, Goziem Okubor, said the investment would provide Salpha inventory needed to supply its expanding network of distributors and a platform to cement its competitive advantage and respond to growing market demand for Solar Home Systems.
He added that the investment would also support young indigenous female entrepreneurs in building an exciting and fast-growing solar business.
The company has an active distributor network of over 350 individuals, cooperatives, and traders nationwide with key partnerships with payment collection enablers such as InfiBranches, Paga, and Interswitch.
All On’s contribution will enhance a highly scalable opportunity by speedily deploying power assets to households in Nigeria and facilitate the adoption of a sustainable power service payment culture within the Niger Delta and beyond.
The deal is in addition to a $50,000 investment provided to Salpha as one of the winners of the USADF/All On Off Grid Energy Challenge in 2020. The funds were used to pilot Pay-As-You-Go contracts for customers in the Niger Delta.
