Micro Business Solar Finance
Less than 40% of Nigeria’s 190 million population are fully employed, hence, Nigerians typically set up micro businesses such as mobile phone charging kiosks and barbing salons for subsistence.
The poor level of electricity supply from the grid compels the business owners to rely on expensive and polluting petrol generators at a cost of 0.40USD/kWh to power their businesses. They are keen to switch to solar but cannot afford the upfront cost.
To help solve this problem, we finance 0.65 kWh and 1.5 kWh rooftop solar systems for micro businesses which saves them a minimum of 30% on their electricity cost and curbs 1,500g of CO2 per generator replaced.
To date, we have privately financed over 150 kWh of rooftop solar capacity in markets across Nothern Nigeria. Our financing solution is designed to contribute towards the following UN Sustainable Development Goals (SDGs):
- Goal 1: No Poverty: Economic growth must be inclusive to provide sustainable jobs and promote equality.
- Goal 7: Affordable and clean energy: Energy is central to nearly every major challenge and opportunity.
- Goal 9: Decent work and economic growth: Sustainable economic growth will require societies to create conditions that allow people to have quality jobs.
- Goal 17: Partnership for the goals: Revitalise the global partnership for sustainable development.