DON’T MISS : Talking Africa Podcast – Mozambique’s insurgency: After Palma, what comes next?
By David Whitehouse
Posted on Tuesday, 9 November 2021 15:49
Bboxx’s entry into Nigeria offers the prospect of solar power creating carbon-neutral homes, while reducing fuel bills for cost-conscious households, CEO Mansoor Hamayun tells The Africa Report.
The company supplies pay-as-you-go solar home systems. Nigeria, which is Africa’s largest market for diesel generators, has the potential to become “the world’s largest off-grid market,” Hamayun says in London. Nearly half of the population has no access to electricity, and many of those who do face an “extremely unreliable” grid, he says.
According to the World Bank, lack of reliable power costs Nigeria $26.2bn (about 2% of GDP), per year. In February, the bank approved $500m to support improvements in electricity distribution, including investment in on- and off-grid renewable energy. The World Bank’s involvement is one factor that led Bboxx to enter the market, Hamayun says. “The starting point is great.”
Your browser could not fetch this story
Give yourself a headstart:
Get full access to The Africa Report on all your devices.
South African fintech Finclusion is aiming to enter Mozambique and Uganda in the second quarter of 2022, CEO Timothy Nuy tells The Africa Report. …
Telecoms operator Africell, which wants to relaunch itself in the DRC and break into Angola, is receiving strong support from the US. This is … just the latest example of Washington and Beijing’s struggle for influence on the continent.
Canada’s Osino Resources may seek around $250m in 2022 to build a gold mine at its Twin Hills project in Namibia, CEO Heye Daun tells The Africa … Report.
The prospect of Ghana being locked out of international debt markets makes it urgent for the government to seek an IMF debt-relief programme … before public finances deteriorate further, economists say.