Impact investor in Nigerian solar energy deal
Shell-funded impact investment company, All On, has announced a $1 million investment in Salpha Energy Nigeria to scale its solar home systems distribution business, 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.
“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.
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.
Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.