MICROCAPITAL BRIEF: Bboxx Acquires Peg Africa, Expanding Solar Energy Footprint, Product Lineup

Bboxx, a UK-registered solar energy firm, recently paid an undisclosed sum to acquire Peg Africa, a company based in Ghana that offers rent-to-own financing for solar products in West Africa. In addition to Ghana, the acquisition adds Côte D’Ivoire, Mali and Senegal to Bboxx’s operating markets, bringing the firm “over 35 megawatts of installed solar capacity.” The deal is part of Bboxx’s plan to expand its product range to include cookstoves, mobile phones and financial services. Meanwhile, the firm provides: (1) pay-as-you-go solar power systems – which allow customers to have their solar panels enabled and disabled remotely as they are able to pay for units of power; and (2) the Bboxx Pulse off-grid solar energy monitoring platform, which gives utility companies real-time data on customer locations, payments and various performance indicators. Since its founding in 2010, Bboxx reports having installed 350,000 solar home systems and serving 2.5 million people while growing to employ 4,000 people via 250 service locations in 11 African countries and Pakistan.

Since its inception in 2013, Peg Africa reports having “reached 1 million people with its solar home systems in West Africa [via] almost 100 service centres.”

By Nithin Naren, Research Associate

Sources and Additional Resources

Renewables Now article
https://renewablesnow.com/news/bboxx-buys-pay-as-you-go-solar-company-peg-africa-797187

Bboxx homepage
https://www.bboxx.com

Peg Africa homepage
https://pegafrica.com

Previous MicroCapital article on Bboxx
https://www.microcapital.org/microcapital-brief-fei-ogef-loans-4m-to-bboxx-to-expand-pulse-electric-power-management-pay-as-you-go-solar-energy-in-drc/

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