Baobab+, the leader in rural electrification in West Africa and Madagascar, has launched its Pay-As-You-Go solar power service in Nigeria.
Baobab+, a Pan-African group already present in Senegal, Côte d’Ivoire, Madagascar, Mali, and more recently in Nigeria and DR Congo, has equipped 240,000 households and served more than 1,500,000 beneficiaries in the past six years.
Expanding presence in Nigeria
Eighty-five million Nigerians don’t have access to grid electricity. This represents 43 per cent percent of the country’s population and makes Nigeria the country with the largest energy access deficit in the world.
Baobab+ deployed its activities in Nigeria recently. The distribution of solar products started through Baobab MFI Network (parent company) as a top-up loan for its clients; a dedicated Hybrid green loan for productive use solar systems for Small businesses is also available.
“This week, Baobab+ has launched our Solar Pay-as-you-go home systems in Alimosho Local government in Lagos and Sango-Ota in Ogun State. In the coming months, it will expand its reach across Nigeria to support the government’s effort in off-grid solar distribution,” said Kolawole Osinowo, CEO of Baobab+ Nigeria.
“I am very happy that Baobab+ is taking this next step, made possible by the incredible work done by our team. We started operations in 2021 with a deep focus on providing top-quality solar products leveraging the Baobab Group Microfinance channel, and now we are set to expand the opportunities with affordable access to these products through our Pay-As-You-Go financing option.”
Baobab+ Nigeria aims to equip over 1 million households and Businesses with solar home systems and productive use appliances within five years. Today, we launched the Biolite 620 Solar Home System and Biolite 5000 Solar Home System with TV. We will continue to expand the product portfolio to cater to our customers’ needs across the country.
For Baobab+, access to energy is also a springboard to enable every African household to part in the digital revolution. In the countries where the company operates, Baobab+ has been a pioneer in launching a smartphone offer with flexible payment and has equipped more than 90,000 households with digital solutions. Baobab+ Nigeria also launched this new offer in Lagos, Ogun, Oyo, Kaduna, Abuja, and Baobab branches network.
Launched in 2015 and operating in six African countries, Baobab+ is a social enterprise that supports households and micro-entrepreneurs in their energy autonomy and digital access, those products benefit from financing facilities to make them accessible to all and as a prerequisite for later their financial inclusion.