Shell-funded independent impact investment company, All On, has announced a $1million investment in Salpha Energy Nigeria to scale the company’s solar home systems distribution business.
The project is focused on bottom-of-the-pyramid customers in rural and semi-urban areas across Nigeria including the Niger Delta.
All On said at the signing ceremony in Lagos that 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 in states across Nigeria including in the Niger Delta.
“We are very excited about this support from All On which is an indication of their growing confidence in our vision.
“This additional support will allow us to deliver on our strategy to provide products for customers across the range of their developing energy needs, ”Founder and Chief Executive Officer of Salpha Energy, Sandra Chukwudizie, said.
The Senior Investment Associate, All On, Goziem Okubor, said: “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. It’s also an opportunity to support young indigenous female entrepreneurs in building an exciting and fast-growing solar business.”
