As of February 2025, Nigeria was home to over 430 fintech startups, making it one of the top countries in Africa for fintech innovation. In 2024, the sector attracted over $2 billion, as revealed in the 2024 Economic Report by the Office of the Special Adviser to Nigeria’s President on Economic Affairs (in the Office of the Vice President), dated November 2024. 

The digital payments market is projected to reach a total transaction value of $20.37 trillion by 2025. However, over 28 million of Nigeria’s population are still financially excluded, stressing a gap between fintech solutions and their economic impact.

The fintech surge is sweeping through the country, every corner seems to have a new app promising to help you send money, pay bills, or manage your finances. If you didn’t know any better, you’d think we were all rich by now, or at least financially savvy.

But let’s pause for a moment and consider the state of things. Despite the millions flowing into fintech, Nigeria’s infrastructure is still a disaster. We still have terrible roads, many fuming about how the healthcare system failed certain individuals, and lots of people without access to basic services like clean water and reliable electricity.

What good are mobile wallets when you can’t even get reliable internet in many parts of the country? How does digital payment help a farmer who can’t even get his crops to market because of the poor roads? We’ve hit a point where payments and wallets are no longer enough. It’s time we shifted focus to something way beyond—real infrastructure.

Fintech in Nigeria is big. It’s loud. It’s enticing. With startups like Paystack, Flutterwave, and OPay raising millions, you’d think we were on the brink of solving all financial challenges. 

Sure, it’s impressive—no one can deny that Nigerian fintech has grown into a powerful sector, with billions flowing in and digital payments becoming commonplace. But then, in the run to be the next big fintech unicorn, we’ve forgotten about everything else.

Truth be told, fintech is not a panacea. It might solve a part of the equation, but what happens when you fix payments but ignore the roads that get goods to market or the lack of access to basic healthcare? There’s a difference between convenience and systemic change. 

You can’t buy a road or build a hospital with a few clicks on your mobile wallet. Yet, somehow, that’s the narrative we’ve embraced—that as long as we have payment solutions, we’ve got it all figured out.

The Real Infrastructure Gaps in Nigeria

When you walk through Lagos or any major Nigerian city, you can see the divide between the fintech growth and the daily struggles of Nigerians. Let’s start with healthcare. Nigeria’s healthcare system is still in shambles despite innovations, and fintech solutions like mobile health apps are great, but they only scratch the surface. 

You need more than just a payment system to solve the issues. You need a network of well-funded hospitals, efficient health insurance, and accessible treatments for all. The kind of infrastructure that tech solutions can help build—but only if the focus moves away from just mobile payments.

Take transport. Anyone who’s tried to get through Lagos during rush hour knows how bad it is. It’s not just frustrating, it’s dangerous. Ride-hailing services like Uber or Bolt have made a difference, but they can only do so much when the infrastructure they depend on is barely functional. 

Poor roads, no traffic management, and outdated public transport systems all contribute to chaos on the streets. So, why isn’t tech doing something about this? Imagine smart traffic management systems, GPS-based public transport, or even digital tolls to ease congestion. These are the real changes that could change lives. But instead, we’re stuck in a loop of wallet apps and online payments.

Let’s not forget agriculture. Nigeria’s agricultural sector has lots of untapped potential, but it’s held back by poor infrastructure. Fintech might help farmers with digital transactions or access to microloans, but what happens when they can’t get their goods to market because of unreliable roads or lack of access to irrigation systems? Without the infrastructure to support it, all the fintech in the world won’t change the reality of Nigeria’s farmers.

The Case for Diversified Tech Investments

It’s time for tech to be broadened in Nigeria. Imagine an aggregate of startups equally focused on every sector, no aspect left out. 

While fintech has undoubtedly created an exciting industry, we need more than just digital wallets to move forward. What we need is a movement towards real infrastructure including healthcare, agriculture, transport and energy. 

It’s simple — tech is the solution, but it needs to be targeted at the real issues. Fintech is just one piece of the puzzle. And while it has its place, it can’t be the end-all-be-all solution. The focus needs to move towards building infrastructure that goes beyond supporting daily life to driving economic growth. Nigeria needs tech-driven solutions that address real, pressing issues like roads, healthcare, and energy.

If we want to build a country that thrives, we have to start with the basics. The infrastructure must come first, not just the apps.

The Economic and Social Value of Building Infrastructure

We usually talk about economic growth as though it happens in isolation. But the truth is, real growth comes from a thriving infrastructure—one that can handle the demands of a growing population, a diverse economy, and a dynamic digital world. 

Investing in infrastructure tech means not only boosting productivity but creating long-term job opportunities across various sectors, including construction, healthcare and tech. Imagine the job creation potential from building tech solutions for transport systems, smart cities, or sustainable agriculture.

The social impact is even higher. Tech infrastructure can reduce inequality by making essential services accessible to all Nigerians, not just those in urban areas with fast internet and mobile phones. From rural healthcare to improved farming techniques, tech can reach the farthest corners of the country, changing lives in ways that fintech alone cannot.

To make this happen, we need more than just private sector investment. The Nigerian government needs to step in with strong policies and incentives for infrastructure-driven tech. 

Public-private partnerships (PPPs) can be key in driving this forward. They can bring together the innovation of the tech sector with the experience and resources of the public sector to create sustainable solutions for healthcare, transport, and agriculture.

Also, we must invest in research and development to create scalable solutions that can be adopted across the country. We’ve seen how much can be achieved when the right partnerships are made; now it’s time to apply that energy to infrastructure. If we want tech to truly transform Nigeria, we need a long-term vision that goes beyond the quick wins of the fintech sector.

We’ve had our fun with fintech, but now it’s time to get serious. The sustainability of Nigeria doesn’t lie in the number of digital wallets we have or how many transactions we can process per second. It lies in building infrastructure that addresses real needs, improves lives, and drives sustainable economic growth. 

The fintech space may be overcrowded, but the field is still wide open for tech-driven infrastructure solutions. If we can get that right, we’ll be well on our way to creating a Nigeria that works for everyone, not just those with a smartphone and an internet connection.

It’s time to think bigger, think longer-term, and start building the real infrastructure that this country needs.

The French energy management giant will use the funds to expand domestic manufacturing, modernise infrastructure, and improve supply chain resilience.

The company’s expansion, set to run through 2027, will bring upgrades to multiple facilities across the U.S., including locations in Tennessee, Texas, Massachusetts, Missouri, Ohio, and the Carolinas. With this move, Schneider Electric expects to generate over 1,000 new jobs.

“We stand at an inflection point for the technology and industrial sectors in the U.S., driven by incredible AI growth and unprecedented energy demand,” said Aamir Paul, president of North America Operations for Schneider Electric.

Schneider Electric’s investment aligns with the U.S. government’s vision to bolster local manufacturing as global supply chain disruptions and tariff issues surface. Over the past decade, the company has poured billions into its American operations, with this latest commitment pushing total investment beyond $1 billion.

The expansion will see the construction of new manufacturing facilities, the launch of research and development labs, and the deployment of cutting-edge automation technologies.

In particular, Schneider Electric aims to increase production of energy-efficient systems and industrial automation solutions, helping businesses and utilities transition to smarter, more resilient energy networks.

Among the key developments:

• Tennessee: A new facility adjacent to an existing plant will strengthen the company’s presence in the medium-voltage market.
• Massachusetts: A new power distribution lab will focus on AI-driven data centre solutions.
• Missouri & Ohio: Upgraded plants will boost production of critical electrical components.
• Texas: A significant expansion in El Paso and Houston will enhance switchgear manufacturing and energy sector innovations.
• North & South Carolina: Investments in robotics and motion technologies will improve industrial efficiency.

With AI and digital infrastructure demanding more energy, Schneider Electric is entering the heart of the transition. The company is rolling out its One Digital Grid Platform, an AI-powered tool designed to help utilities modernise the grid and handle rising electricity consumption. 

Again, its involvement in EPRI’s DCFlex initiative asserts a commitment to integrating data centres into the energy ecosystem more efficiently.

The National Electrical Manufacturers Association (NEMA) sees this investment as a pivot.

“America’s electrical system will face high energy demand in the coming decade driven by data centres and AI. Schneider Electric’s historic investment… is indicative of the critical role electrical manufacturers play in meeting this new demand and powering an electric future,” said Debra Philips, president and CEO of NEMA.

Schneider Electric already has a strong presence in the U.S., employing over 21,000 people and operating more than 20 smart factories. Its products are widely used across various sectors, including healthcare, water management, and residential energy solutions.

The company has also been recognised for its workplace culture, sustainability efforts, and veteran hiring initiatives. In 2024, TIME Magazine named it the world’s most sustainable company, and it has consistently ranked among the best places to work.

Alongside this milestone, redalpine is expanding its footprint with a new office in London, enhancing its focus to unlock innovation across Europe.

Founded in Zurich in 2006, redalpine has been investing for nearly two decades and is one of Europe’s most experienced venture capital funds. 

redalpine is recognized for funding category leaders in software and science – from AI, software, biotech, and food to fintech, healthcare, and energy – and being the first backers of unicorns like Taxfix and N26. 

This strong track record, coupled with the fund’s consistent top-quartile returns, ensured that RAC VII closed oversubscribed, exceeding its initial target despite a challenging fundraising environment. 

Michael Sidler, founding partner of redalpine, said: “We are at a pivotal inflection point in technological development, with transformative change happening across all industries. Huge forces such as AI, energy transition, health and food security, and more are creating significant investment opportunities. We are seeking startups that are working on incredible solutions and are proud to be empowering the next generation of game-changing companies. With RAC VII, our largest fund to date, we can’t wait to co-create the future together with visionary entrepreneurs, while continuing our legacy of delivering outstanding returns for our investors.”

A significant number of existing investors doubled down on their commitment in RAC VII fund, with limited partners including renowned family offices and leading institutional investors (including public pension funds, Funds of Funds, and national and international banks). Today, redalpine has over $1bn in assets under management across its seven funds.

Operating out of offices in Zurich, Berlin, and soon London, and with a presence in Silicon Valley, RAC VII will back 15-20 early-stage companies from across Europe. 

The fund has already invested in nine companies, including Proxima Fusion (Germany), a Max Planck Institute for Plasma Physics spin-off focused on the future of clean energy production through fusion technology, LegalFly (Belgium), the AI copilot that is transforming legal workflows, and Expression Edits (UK), the gene-editing company that is streamlining and accelerating the development of life-saving therapies.

Lino Teuteberg, co-founder of redalpine portfolio company Taxfix, commented: “When we set out to help people all across Europe overcome their fear of complex tax and financial issues, redalpine stood out with their hands-on approach and deep belief in our vision. The founding partners and team served as valuable sparring partners around the topics of product development, growth, and hiring, and continue to double-down on their support by investing from Seed to Series D. We’re delighted to hear that RAC VII will enable more entrepreneurs to benefit from partnering with redalpine.”

The opening of redalpine’s new London office is another important step in the company’s growth and commitment to Europe’s local startup ecosystems. redalpine has already backed over 10 UK-based companies, including 9fin, Uncommon, and Hypervision Surgical.

Sebastian Becker, general partner at redalpine and head of the London office, said: “After expanding to Berlin, establishing a presence in London is the next logical step in our growth journey. London and the UK have shown very impressive advancements in the past few years, particularly in deeptech and AI – areas that align perfectly with our investment strategy at the continuum of software and science. I look forward to building our on-the-ground team and being on hand to further support our local portfolio companies.”

redalpine’s investment team comprises seasoned operators, former entrepreneurs, and half of the team are scientists, including biologists, physicists, doctors, computer scientists, and material scientists. 

The company funds technological breakthroughs that offer tenfold improvements over existing solutions, providing a so-called ‘tech hedge’ and a key competitive advantage. To date, redalpine has invested in over 100 companies, including N26, Klarna, Taxfix, Mistral AI, Aktiia, Lakera, and Infinite Roots.

In addition to its six early-stage funds, redalpine launched its innovative evergreen, multi-stage Summit Fund in 2020, the first of its kind in Europe. 

The Summit Fund enables redalpine to invest in European tech champions and support its top-performing portfolio companies through the later stages, from startup to IPO, reducing reliance on US funding. 

With the successful closing of RAC VII and the opening of the London office, redalpine is perfectly positioned to progress its vision of empowering game-changers, disrupting industries for good, and shaping a better world for all.

Sarah’s career growth over the last four years has led to her emergence as a Senior Business Analyst and Scrum Master for Scania; a leading Autotech disruptive company in the United Kingdom leveraging digital technology; software development, Robotics, innovation, and process automation to change the autonomous and electrified transport options within the market.

In this interview, Sarah Ikhagbode discusses her career growth, and experience as a Scrum Master.

TE: What Inspired You to be a Business Analyst?

Sarah Ikhagbode: The desire to improve a business’s processes and value to its customers is one of my main inspirations to become a business analyst. The desire to ensure that solutions whether utilizing digital technology by means of software development or process automation is tailored to the specific needs of the end users is inspiring. It’s exciting to be a part of improving businesses with valuable solutions

TE: What were your difficult Transition Moments?

Sarah Ikhagbode: Transiting into the digital technology space did not come easy. While I did study my postgraduate studies in Business Analytics, I soon quickly discovered that I needed to be up and above to stand out in a dynamic, yet competitively focused male sector.

This challenge made me take on more courses and responsibilities which obviously has now paid off and still paying off today with various projects I have led.

TE: What are the unique things about being a Business Analyst?

Sarah Ikhagbode: Problem-solving is at the heart of what effective business analysts do. As a business analyst this is one skill that is unique to me because analysis is about thinking outside the box. It involves a mix of creativity, critical reasoning, and analytical skills. It is identifying the root cause of an issue and not just a symptom as well as the next steps to resolve it.

Sometimes the solution to a problem is obvious. Many times, however, it is not. As a business analyst, I am able to question assumptions and examine an issue from a variety of perspectives which might be overlooked by the business and come up with more creative solutions.

TE: What are the impacts you have made on people you’ve worked with directly?

Sarah Ikhagbode: Most business analyst find it hard to measure their impact within an organisation. For me, I have been able to quickly leverage on my experience and network to support other emerging young professionals successfully transition into the Digital technology sector. Aside from that, in my workplace, I have led projects in excess of over 5million GBP and delivered on various cost savings too.

TE: What is your general outlook about the Autotech and Fintech space in Africa and the UK?

Sarah Ikhagbode: As the Autotech and Fintech space continues thriving across the United Kingdom and other emerging market.

I would envisage more integrations of embedded financing opportunities into the Autotech space to drive inclusion for many more individuals and homes. In June 2023, the Uk recorded over 177,000 new car registrations indicating a whopping 25.8% Year on Year increase.

The roll out of machine learning and Artificial intelligence would also be accelerated across the Autotech sector.

In addition, through innovative fintech approach, there would also be more adoptions of Electric vehicles in 2024 across the United Kingdom through more adaptive and flexible financing schemes.

TE: What is your advice for young emerging professionals entering the Digital Technology space?

Sarah Ikhagbode: I would say, find your passion and stick to it. In a fast-paced sector, a lot of people tend to give up even before they get started. As young professionals, we must understand the process of growth and do everything within our ability to sharpen our skill continuously to grow and deliver excellent products to the market.

Products that are solving needs and problems across our society rather than just a want. This is the only way we can contribute to nation building across the United Kingdom or Africa.

The absence of reliable power poses a significant obstacle to the country, resulting in an estimated annual economic loss of $26.2 billion due to poor electricity access.

To address this issue, the Association of Meter Manufacturers of Nigeria (AMMON) pleads with the government to reconsider its plans to use a $155 million World Bank loan for meter importation.

Instead, AMMON calls for the funds to be directed towards local industries, enabling them to bridge the 10 million meter gap within 18 months. By supporting domestic manufacturers, Nigeria can stimulate economic growth, create jobs, and alleviate the energy access deficit.

Ifeanyi Okeke, the treasurer of AMMON and CEO of Holley Metering Limited, expressed concerns about the proposed tender for bidding, scheduled for July 11. Okeke emphasized that this approach would contradict the government’s local content policy.

Speaking during discussions on the bidding process, Okeke highlighted that although contracts were awarded to 20 out of 40 local meter manufacturing companies in November of the previous year, production has not yet commenced. Despite the challenges, nearly 1 million meters were rolled out between December 2020 and June 2021.

AMMON believes that allocating the World Bank loan to local manufacturers would be more beneficial for the economy, leading to job creation and stimulating economic growth.

Okeke urged the government to halt the tender metering process, which is designed to support local factories and promote value addition. However, conflicting desires between the Ministry of Finance and the Nigerian Electricity Regulatory Commission (NERC) have complicated the situation.

Engr. Durosola Omogbenigun, the Secretary General of AMMON, warned that proceeding with the bidding process would hinder the progress made in terms of local content policy, backward integration, and technology transfer.

Referring to the signing of Executive Order No. 5 by former President Muhammadu Buhari, Omogbenigun highlighted the importance of prioritizing local products over foreign brands in public organizations.

Omogbenigun emphasized the potential impact of directing the proposed $155 million World Bank loan toward local meter production. This investment would energize the industry, create jobs, generate wealth, and close the 10 million meter gap.

Urgent government intervention is necessary to prevent the Transmission Company of Nigeria (TCN) from proceeding with tender openings. AMMON accused the TCN of failing to fulfill promises of support made to their members, undermining the progress of local manufacturers.

The issue of the energy access deficit in Nigeria requires immediate attention. By improving electricity infrastructure, particularly in rural areas, the country can unlock economic potential, provide essential services, and uplift communities from poverty.

AMMON’s plea for support to local industries aligns to promote and ensure manufacturing and ensuring sustainable economic development.

According to MAN, the expenditure rose from N77.22 billion in 2021 to N144.5 billion in 2022, indicating an 87% increase in the cost of accessing alternative energy.

Consequently, MAN has strongly opposed the planned electricity tariff increase set to take effect from July 1, considering it to be outrageous.

Segun Ajayi-Kadir, the Director-General of MAN, expressed concerns about the lack of competitiveness in the real sector due to high costs associated with generating power from alternative sources.

He emphasized that a 40% tariff increase at this time would result in higher production costs, reduced profit margins, hindered manufacturing activities, and lower revenue contributions to the government, among other negative impacts.

Ajayi-Kadir highlighted the longstanding challenge faced by manufacturers in Nigeria, as they have had to rely on alternative energy sources due to the absence of stable, affordable electricity supply.

However, he lamented that even the available alternative energy sources, such as diesel, have become excessively expensive. The fact that the government itself has unpaid electricity bills totaling N75 billion reflects the burden of electricity costs.

The MAN Director-General pointed out that power already accounts for 28-40% of the cost structure in energy-intensive manufacturing industries, such as metal processing, heavy machinery, and chemicals manufacturing.

An increase in electricity tariffs would erode manufacturers’ profit margins, hinder their expansion plans, and limit job creation.

Ultimately, the additional costs would be passed on to consumers, leading to higher product prices in the market and exacerbating the country’s inflation rate.

Furthermore, the competitiveness of locally produced goods would suffer as they become less competitive compared to imported alternatives.

Ajayi-Kadir suggested that instead of raising tariffs, the Nigerian government and the Nigerian Electricity Regulatory Commission (NERC) should focus on improving electricity generation, transmission, and distribution to meet the revenue requirements of the electricity supply industry stakeholders.

He emphasized the importance of ensuring that at least 90% of electricity consumers are metered to enable consumption-reflective billing.

Additionally, he urged the government to formulate policies that promote investment in the energy sector, increase generation capacities, and support large-scale electricity production.

MAN’s expectation is that the government will engage in extensive consultations with manufacturers and implement measures to support the sector, preventing further factory closures and the subsequent negative effects on employment and the overall economy.

They caution against introducing burdensome measures that could further suffocate the manufacturing sector and the wider economy.

This funding is part of the AGoSE-AO program, which aims to improve governance in the energy sector in West Africa.

The program was commissioned through the 11th European Development Fund and will be implemented between May 2022 and April 2024.

The AGoSE-AO program is designed within the framework of a cooperation agreement between the Economic Community of West African States (ECOWAS), the West African Economic and Monetary Union (WAEMU), and the European Union.

Its goal is to make the energy architecture and regional instBusitutions in West Africa more effective in dealing with global challenges.

To further this objective, officials from ECOWAS, the EU, and other development partners convened in Abuja for talks on boosting the energy sector in Nigeria and other countries in the West African sub-region.

The event was jointly organized by ECOWAS and WAEMU and attended by various specialized agencies responsible for energy, such as the ECOWAS Center for Renewable Energy and Energy Efficiency (ECREEE), the West African Power Pool (WAPP), and the ECOWAS Regional Electricity Regulatory Authority (ERERA).

Representatives from the European Union Delegations to Nigeria, Benin, and Burkina Faso, as well as the German Agency for International Cooperation (GIZ), Energy Charter, British Council, and NTU International A/S, also participated in the event.

Anastasia Oikonomou, the representative of the European Union Delegation to Nigeria and the ECOWAS Commission, stated that the AGoSE-AO program aims to strengthen the West African energy architecture and regional institutions to effectively address global challenges.

She emphasized the importance of enhancing governance, transparency, and accountability in the energy sector to promote sustainable development and reduce poverty in West Africa.

Bayaornibe Dabire, the Director of Energy and Mines of ECOWAS and chairman of the meeting, urged all stakeholders within the energy sector to collaborate in improving governance and transparency.

He highlighted the need for a harmonized regulatory and legal framework in the region to create a secure, transparent, stable, and vibrant energy market. This, in turn, would attract investors and enhance access to modern, affordable, reliable, and sustainable energy services.

Emmanuel W. Ramde, the Team Leader of the AGoSE AO program, emphasized that access to modern, affordable, reliable, and sustainable energy services is crucial for poverty alleviation.

One of the program’s components focuses on harmonizing the regulatory and legal framework in the region to create an enabling environment for investment and improved energy services.

The AGoSE-AO program, funded by the EU, aims to strengthen governance and regulatory frameworks in the energy sector in West Africa, promote sustainable development, and enhance access to modern energy services in the region.

In a statement, Oando explained that the objective of this initiative is to transition the public transport system in Lagos State towards a carbon-free mobility ecosystem.

Abinbola Akinajo, the Managing Director of LAMATA, emphasized the significance of public-private partnerships, stating, “This initiative is a crucial part of our vision for transportation in Lagos State. We aim to establish a clean and efficient transportation system.”

He further expressed the desire to involve the private sector in meeting the mobility needs of the average Lagosian. LAMATA, as a regulatory agency for transport in Lagos, has partnered with Oando Clean Energy to utilize electric buses in passenger operations.

Akinajo highlighted LAMATA’s openness to engaging with the private sector while ensuring alignment with the vision of Lagos state.

He expressed satisfaction that within just over a year of Oando Clean Energy approaching them to discuss the possibility of deploying electric buses, they have signed a Memorandum of Understanding (MoU) with the key goal of implementing a Proof of Concept (PoC) to incorporate electric buses into their ecosystem.

Recognizing the urgent need to address transportation’s significant contribution to Nigeria’s Greenhouse Gas emissions (62%), Dr. Ainojie Irune, President of OCEL, said, “This presents an opportunity to revolutionize mobility in our country and develop local capacity in the renewable and clean energy sector.”

Irune envisioned a future where these buses would be manufactured in Nigeria and a multitude of locally trained engineers would operate, maintain, and service these buses and other renewable energy assets.

He regarded the introduction of these buses as the first step towards this goal.

He emphasized that the PoC would facilitate the collection of initial data points crucial for the development and deployment of electric vehicles for municipal and public transport across the continent.

Irune expressed confidence in the progress made, acknowledging the invaluable support of Lagos state and LAMATA in making this endeavor possible

Governor Babajide Sanwo-Olu announced this achievement via his official Twitter account on Tuesday evening.

The funds raised will play a vital role in driving infrastructure development, stimulating economic growth, creating employment opportunities, and enhancing the quality of life for residents of Lagos.

This successful bond issuance demonstrates the resilience of the city and the confidence that investors have in its ability to responsibly utilize the funds for development purposes.

The government of Lagos expresses gratitude to the investors for their belief in the immense potential of the city and assures them of its commitment to transparency and prudent financial decision-making, all aimed at building a better Lagos for future generations.

Governor Sanwo-Olu further emphasized that the investment will have a positive impact on both the short-term and long-term development of key sectors within Lagos state

He wrote: “We have raised N134.8 billion in long-tenure bonds, marking another record in accessing capital market funds. This investment will fuel key infrastructure projects in sectors such as education, electricity, roads, and agriculture.

“Today, we signed the transaction instruments for the first sets of allotment in the N1 trillion Debt and Hybrid Issuance Programme. This includes a 10-year tenure bond and a Shariah-compliant Sukuk.

“With the proceeds from the bond and Sukuk, we will be executing various projects pre-inspected by the Securities and Exchange Commission.

This includes overhauling 33 public schools in Ajegunle, road infrastructure on the Lekki-Epe corridor, drainage works, and more.

The company aims to eradicate energy poverty, promote energy equity, and ensure ease of access to energy for all.

According to the International Energy Agency, over 580 million people in Africa lack access to electricity, and this has led to negative impacts on the continent’s economic growth, health, education, and social well-being.

Grid Crux is committed to addressing this challenge by providing innovative, sustainable, and affordable energy solutions to African communities starting with its indigenous country, Nigeria.

At a recent pre-launch event with partners and key players in the tech and energy space, GC introduced MasSolar an initiative of the company which is tailored to provide easy access to sustainable energy via a digital, easy, paperless and seamless credit approach to the residentials and SME segments.

The solution leverages on the technological advancements in consumer credit, unique customer identification and a robust fintech backbone infrastructure to provide consumers with the easiest and quickest means to access credit for residential and SME renewable solutions in the market.

Speaking at the event, Grid Crux CEO, Mojola Ola, stated that “Creating this solution was born out of a passion to aid individuals and small businesses of all works of life across Africa access sustainable energy without the hassle of paperwork or collateral burden. We believe this solution will provide answers to Africa’s energy pain point.”

Asides MasSolar, GC also unveiled other innovative solutions which are set to revolutionize energy management while offering energy consumers several options which will not only
reduce their electrical bills but also monitor and manage energy consumption.

GC offers an array of solutions across the energy value chain including; renewable energy solutions, energy management, utility and industrial storage solutions, microgrids and more.

Aside from access to energy, these solutions are designed to improve network reliability and promote energy equity while optimizing costs and consequently, alleviating energy poverty in Africa.