OpeOluwani Akintayo
Lagos — Shell-funded impact investment company, All has signed a $1m investment deal with Salpha Energy Nigeria to scale the company’s solar home systems distribution business in-country
A statement by the firm over the weekend says the deal is focused on bottom-of-the-pyramid customers in rural and peri-urban areas across Nigeria including the Niger Delta.
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 including in the Niger Delta.
“We are very excited about this support from All On which is an indication of their growing confidence in our vision,” said Salpha Founder/CEO Sandra Chukwudozie. “This additional support will allow us to deliver on our strategy to provide products for customers across the range of their developing energy needs.”
“We are thrilled about this investment which is the continuation of a journey and 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,” said All On Senior Investment Associate, Goziem Okubor.
“It’s also an opportunity to 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.
