Bboxx is expanding its operations in Africa. The London (UK) based company is setting up shop in Nigeria, the most populous country on the continent with an estimated population of 206 million. It is also the largest economy in Africa, with a gross domestic product (GDP) of $432.3 billion in 2020, far ahead of South Africa ($301.9 million), according to the World Bank.
But efforts to develop the West African country are being undermined by problems with access to electricity. Currently, Nigeria has an electricity access rate of 60%, and only 34% in rural areas. It is in these areas not served by the network that Bboxx intends to take up its new challenge: provide access to electricity to 20 million Nigerians in 10 years. A real mission in this country where other providers of decentralized electricity access solutions are swarming.
BEAM’s support
However, Bboxx has already begun operations with the opening of a store in Ijebu Ode, Ogun State. The British company plans to continue its expansion by electrifying rural communities in other states, including the rural areas of Lagos, Oyo, Ondo, Osun and Ekiti. According to the Mansoor Hamayun-led company, support for rural communities will be a key component. Bboxx will particularly target small business owners and market traders. Small and medium-sized enterprises (SMEs) contribute 48 percent of GDP, accounting for 96 percent of businesses and 84 percent of jobs in Nigeria.
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“The off-grid clean energy market in Nigeria has significant untapped potential. By expanding our operations in the country, we are empowering SMEs and thriving communities to unlock their economic potential through affordable access to energy. As we approach COP26, we would be delighted to open a dialogue with those who share our mission, as we strongly believe in the importance of partnerships to bring about meaningful change,” says Mansoor Hamayun, Bboxx’ CEO.
Creating green jobs
In rolling out its operations in Nigeria, Bboxx is supported by Bamboo Energy Access Multiplier (BEAM), a $50 million fund launched four years ago with Bamboo Capital Partners, a Luxembourg-based private equity firm. The solar home systems provider estimates that expanding its operations in Nigeria will create 10,000 green jobs over the next 10 years. And by electrifying 20 million Nigerians with solar energy, its equipment will avoid the emission of 4 million tons of CO2 equivalent.
Jean Marie Takouleu