- Bboxx will provide clean energy access to 20 million people over 10 years
- 85 million Nigerians live without electricity1, impeding quality of life and economic development
- As Africa’s largest economy, Nigeria marks Bboxx’s most ambitious country opening
- Latest news is central to Bboxx’s mission to solve energy poverty and reach UN SDG7 – clean energy for all – with plans to leverage its technology to launch other vital utilities and services in Nigeria over the coming years
Wednesday 27th October 2021 – Bboxx, a next generation utility tackling the global energy poverty crisis, has officially launched in Nigeria, Africa’s most populous nation and Bboxx’s largest market to date.
Bboxx will provide a much-needed solution to Nigeria’s electrification challenges by expanding access to clean, affordable and reliable Solar Home Systems (SHS). By launching in Nigeria, Bboxx aims to provide clean energy to 20 million people over 10 years, avoiding more than four million CO2e emissions as a result. Ten thousand jobs will be created, spurring quality local green employment opportunities.
Operations have already successfully commenced in southwest Nigeria, with the first shop opening in Ijebu Ode, Ogun State. Over the course of the year, Bboxx will serve rural communities in other states including rural Lagos, Oyo, Ondo, Osun and Ekiti.
With 45% of Nigerians living without access to electricity, rising to 74% for the rural population2, there is a significant opportunity to positively impact the lives of millions through clean energy provision. Supporting rural communities will be a key focus, and Bboxx is targeting small business owners and market traders in particular. SMEs contribute 48% of national GDP, account for 96% of businesses and 84% of employment in Nigeria3.
The launch of Bboxx Nigeria includes funding from BEAM, an investment platform focused on energy services helping to transform lives in emerging markets. BEAM was set up in 2018 by Bamboo Capital Partners, the pioneering private equity firm delivering positive social and financial value, and Bboxx.
Mansoor Hamayun, CEO and Co-Founder of Bboxx, commented: “As the largest economy in Africa, it is hugely important that clean energy access is accelerated in Nigeria. This will positively transform people’s lives, powering inclusive and sustainable economic development. As the climate crisis gathers pace, we recognise that there is still a long way to go before we meet the UN Sustainable Development Goal 7 – clean energy for all. This latest launch is definitely a step in the right direction and we have an ambitious pipeline ahead. We are passionate about making clean energy as accessible as possible in the developing world.
“The off-grid clean energy market in Nigeria has significant untapped potential. As we expand our operations in the country, we’re empowering thriving SMEs and communities to unlock economic potential through affordable energy access. With COP26 just around the corner, we would love to open further dialogue with those who share our mission, as we firmly believe in the importance of partnerships to deliver meaningful change.”
Florian Kemmerich, Managing Partner at Bamboo Capital Partners added: “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. We’re looking forward to Bboxx ramping up operations to make an even greater impact on the sustainable development of SMEs.”
Bboxx’s Pay-As-You-Go SHS makes energy access much more affordable as people only pay for what they use. In the future, Bboxx will also launch their wider range of products and services in the country, like LPG clean cooking solutions, solar-powered water pumps for farmers, smartphones and more. Prior to this launch, Bboxx’s SHS products were already available in some parts of Nigeria through its successful collaboration with distribution partner Pan African Solar (PAS).
Bboxx’s systems run on its comprehensive management platform Bboxx Pulse®, enabling clean energy access to be scaled to places previously considered too expensive or difficult to reach via traditional grid infrastructure. This model has brought Bboxx’s tech-enabled off-grid energy to two million people globally, with substantial operations in countries including Rwanda, Kenya, Togo and the Democratic Republic of Congo. This latest market entry comes as Bboxx accelerates momentum on entering new markets, having already launched earlier this year in Burkina Faso.
Sources:
1 Nigeria to Improve Electricity Access and Services to Citizens, World Bank
2Nigeria electrification rates, World Bank
About Bboxx
Bboxx is a next generation utility, transforming lives and unlocking potential through access to energy. Bboxx manufactures, distributes and finances decentralised solar powered systems in developing countries. It is scaling through forging strategic partnerships and its innovative technology Bboxx Pulse®, a comprehensive management platform using IoT technology. Through affordable, reliable, and clean utility provision, Bboxx is bringing people into the digital economy, creating new markets, and enabling economic development in off-grid communities and those living without a reliable grid connection. The company is positively impacting the lives of nearly 2 million people with its products and services in over 27 markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals.
So far, Bboxx has deployed more than 500,000 solar home systems. Bboxx has over 1000 staff across nine offices including in the Democratic Republic of Congo, Kenya, Rwanda, and Togo, with its head office in the UK and its manufacturing operations in China. In 2019, Bboxx was the winner of the Zayed Sustainability Prize in the Energy category – testament to the way the company is making a meaningful difference to people’s lives around the world. You can find further information about Bboxx on its website at – https://www.bboxx.com/
For more information please contact:
Amy Boekstein
Instinctif Partners
Email: bboxx@instinctif.com
Phone: +44 (0) 7457 2064
