Lumos Global, a Dutch off-grid developer that raised $90 million last year to start business in Nigeria, said its expanding in Ivory Coast this month, highlighting West Africa’s booming off-grid solar industry which is drawing international investors eyeing expansion, Bloomberg reports.
In both countries, Amsterdam-based Lumos is using a partnership with MTN Group Ltd. that allows customers pay for solar power with their mobile phones. “It’s all very clear that this is a viable solution,” said Lumos co-founder Nir Marom in a telephone interview from Lagos, Nigeria. “It’s growing in all of Africa, specifically West Africa.”
Since it launched its services in Nigeria in 2016, Lumos has sold 65,000 solar systems, providing power to as many as 250,000 people, according to the company. Similar demand may be found in the Ivory Coast, where about 40 percent of people among the population of 24 million live without electricity, according to the World Bank.
“Today in Nigeria we are already selling many hundreds of systems everyday and we want to reach these levels and beyond in Ivory Coast,” he said. “The need for these systems and the market demand is so huge that we are in constant fundraising,” he added.