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A prominent Nigerian impact investment company, All On has formalized a $2.25 million credit facility investment agreement with Baobab Plus Nigeria. The collaboration aims to deploy 1,536 solar energy systems, ranging from 600W to 3KW, across Nigeria through Baobab+ Nigeria's distribution channels.
In an official statement, All On highlighted that the partnership would leverage Baobab+ Nigeria's existing Pay-as-you-Go (PayGo) Agent Network, strategically located in 21 regions across Southwest, North Central, and Northwest Nigeria, for the deployment of 1,536 Solar Energy Systems (SES).
The investment not only supports the expansion of Baobab+'s PayGo Agent Network into new locations but also enhances collaboration with financial institutions nationwide.
Caroline Eboumbou, the Chief Executive Officer of All On, expressed the company's commitment to increasing access to energy products and services for underserved and unserved communities in Nigeria. She stated, "This collaboration with Baobab+ is proof of our commitment to supporting Nigeria’s path to sustainable development and creating a brighter future for all Nigerians."
Baobab+ Nigeria's CEO, Kolawole Osinowo, expressed enthusiasm about the innovative partnership with All On's DART program, describing the investment as a unique financing model enabling the expansion of their reach. The goal is to empower SMEs and communities across the country to seamlessly transition to renewable energy.
Osinowo emphasized the environmental impact of providing affordable solar systems, contributing to cost savings, improved living conditions, and environmental sustainability. He stated, "With All On’s invaluable support, we can make a significant impact on the lives of countless people."
The collaboration is expected to play a pivotal role in Nigeria's journey towards a sustainable energy future, providing affordable and reliable solar energy products for both small and medium enterprises (SMEs) and individuals. Baobab+ Nigeria and All On's DART program aim to illuminate homes, empower communities, and contribute to environmental conservation through this impactful solar energy initiative.
