Salpha Energy, a provider of clean and affordable solar energy products in Nigeria, has raised a $1 million investment from All On, a Shell-backed impact investing firm.
Salpha Founder/CEO Sandra Chukwudozie stated that,
“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.”
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.
With major collaborations with payment collection enablers such as InfiBranches, Paga, and Interswitch, the company has an active distribution network of over 350 people, cooperatives, and dealers around the country.
According to Goziem Okubor, Senior Investment Associate at All On,
“We are excited about this investment because it is the continuation of a journey that will provide Salpha inventory needed to supply its expanding network of distributors as well as a platform to cement its competitive advantage and respond to growing market demand for Solar Home Systems.”
“It’s also an opportunity to assist young indigenous female entrepreneurs in developing an innovative and rapidly expanding solar company.”