One of the issues that plague Nigeria is poor power supply. It does This also affects small businesses and residents.
Bboxx is a next-generation utility firm that offers millions of people in developing nations with inexpensive, dependable, and clean energy and other utility services, transforming lives and unlocking the potential of communities, towns, and countries.
In light of this, Bboxx has announced its commitment to provide a much-needed solution to the country’s power problem by expanding access to clean, affordable, and dependable Solar Home Systems ( SHS).
By starting in Nigeria, Bboxx hopes to provide clean energy to 20 million people over the next ten years, preventing over four million carbon emissions and easing energy poverty while also creating green jobs.
The first shop opened in Ijebu Ode, Ogun State, and operations have already begun effectively across southwest Nigeria. Bboxx will service rural areas in various states throughout the year, including rural Lagos, Oyo, Ondo, Osun, and Ekiti.
There are 45 percent of Nigerians living without electricity, rising to 74 percent in rural areas, there is a great chance to improve the lives of millions of people through clean energy distribution according to Bboxx.
BEAM, a subsidiary of Bboxx, is an investment platform that focuses on energy services that helps to alter lives in emerging nations, has contributed to the launch of Bboxx Nigeria. Bamboo Capital Partners, a pioneering private equity firm providing significant social and financial value.
Services that will be provided by Bboxx
Bboxx reveals that its Pay-As-You-Go SHS makes energy more economical because customers only pay for what they consume.
Bboxx plans to expand its product and service offerings in the country in the future, including LPG clean cooking solutions, solar-powered water pumps for farmers, cellphones, and more.
Bboxx’s SHS products were already available in some parts of Nigeria prior to this introduction, thanks to a partnership with distribution partner Pan African Solar (PAS).
As they target small company owners and market traders in particular, Bboxx will place a strong emphasis on supporting rural areas. In Nigeria, SMEs account for 48 percent of national GDP, 96 percent of companies, and 84 percent of employment.
Bboxx’s solutions run on Bboxx Pulse, a comprehensive management platform that enables sustainable energy access to be scaled to regions where traditional grid infrastructure was previously too expensive or difficult to reach.
Bboxx’s tech-enabled off-grid electricity has reached two million people throughout the world, including operations in Rwanda, Kenya, Togo, and the Democratic Republic of Congo.
This latest market entry comes as Bboxx continues to expand its presence in new markets, having also launched in Burkina Faso earlier this year.
Co-founder and CEO of Bboxx, Mansoor Hamayun stated “As the largest economy in Africa, it is immensely important that renewable energy access is accelerated in Nigeria.”
He went on to say that this action will have a good impact on people’s lives while also promoting inclusive and long-term economic development.
As the climate crisis worsens, the corporation recognizes that the firm still has a long way to go to achieve UN Sustainable Development Goal 7, sustainable energy for all.
“This latest launch is unquestionably a positive step forward, and we have a promising pipeline ahead of us. We are committed to making renewable energy as widely available as possible in underdeveloped countries,” he stated.
The CEO also confirmed that Nigeria’s off-grid clean energy market has a lot of untapped potentials and the company will be supporting flourishing SMEs and communities to unlock economic potential through cheap energy access as the firm grows its activities in the country.
He stated, “With COP26 just around the corner, we’d like to continue the conversation with individuals who share our mission, as we believe partnerships are critical to achieving significant change.”
Managing Partner at Bamboo Capital Partners, Florian Kemmerich revealed, “ Scaling access to capital is absolutely fundamental to the success of the off-grid energy sector in Nigeria. By deploying and unlocking greater levels of capital, there’s a huge market opportunity to bring clean energy to the millions of people living without it.”
He also revealed that Bamboo is looking forward to Bboxx ramping up operations to make an even greater impact on the sustainable development of SMEs.
