Bboxx moves its headquarters to Rwanda and in the process also investing a whopping sum of $100 million to help train more than 1,000 people. The firm intends to grow tenfold, with a reported target of getting to 36 million people by the year 2028.
Bboxx Moves Its Headquarters to Rwanda
Bboxx, a pioneering company in the clean energy sector, recently announced a significant stride forward in its mission to combat energy poverty by entering into a $100 million partnership with the Kuwaiti investment firm EnerTech. This collaboration is aimed at providing new customers across its markets with an array of products including clean energy solutions, clean cooking technologies, smartphones, smart financing options, and e-mobility products.
Founded in 2010 by CEO Mansoor Hamayun, Chris Baker-Brian, and Laurent Van Houcke, Bboxx has been at the forefront of addressing energy poverty by harnessing clean energy. Operating in 11 African countries such as Nigeria, Ghana, and Togo, the company has managed to reach over 3 million people, significantly impacting energy access on the continent.
In Rwanda alone, Bboxx has served more than 10% of households, offering products like pay-as-you-go solar-powered water pumps, smartphones, clean cooking solutions, and electric cars, thereby promoting sustainable living.
What This New Development Means
Hamayun articulates that this new development is a testament to Bboxx’s dedication to becoming an Africa-first, data-driven platform that not only enhances lives but also unlocks potential and fosters closer connections with the communities it serves.
Additionally, the move has been praised by Francis Gatare, CEO of the Rwanda Development Board, who regards Bboxx’s initiative as perfectly aligned with Rwanda’s ambition to attract smart, sustainable investments, further underscoring the country’s commitment to embracing innovative solutions for economic and environmental sustainability.
“Our unique ecosystem offers a fertile ground for companies like Bboxx to innovate and expand, signaling to the world that Rwanda is open for business and ready for the future,” he also added.
Bboxx’s Entrance into the Nigerian Market in October 2021
As part of its ambitious strategy to expand its footprint in Africa, Bboxx made a significant entrance into the Nigerian market in October 2021, underscoring its commitment to power sustainable development and provide clean energy to 20 million people over the next decade. This move is aimed at tackling the substantial electrification challenges in Nigeria by making clean, affordable, and reliable solar home systems widely accessible to the population, many of whom have limited or no access to the national grid.
Bboxx’s Partnership with PEG Africa
In a further push to broaden its impact across the continent, Bboxx entered into a partnership in September 2022 with PEG Africa, a leading company in the solar energy sector in West Africa. This strategic alliance enabled Bboxx to venture into new markets, including Senegal, Ivory Coast, Ghana, and Mali, significantly enhancing its ability to address energy poverty in Africa.
Through these efforts, Bboxx continues to demonstrate its commitment to leveraging clean energy solutions to improve lives and foster economic development across the African continent.
MORE RELATED POSTS
- 5 Dangerous Credit Card Moves to Avoid in 2024
- World Press Freedom Day – How to Observe World Press Freedom Day
- The Canada Fund for Local Initiatives – Rwanda & Burundi 2024 (Up to $40,000 CAD) – APPLY NOW – APPLY NOW
- 5 Steps to Take Investing for the First Time in 2024
- Should You Change Your Investing Strategy in 2024?
