Eight Nigerian Firms Receive $1.5M for Solar Expansion

Eight Nigerian companies are among 19 African firms awarded $1.5 million in funding to expand solar power products. The announcement was made by Emmanuel Aziebor, Senior Director for Africa at CLASP, during a statement in Abuja.

The initiative aims to deploy 3,800 solar appliances and create 3,000 green jobs. The funding will help reduce the upfront costs of solar products, making them more accessible to farmers and small businesses.

This intervention is designed to enable entrepreneurs to grow their businesses, increase income, and positively impact families and communities. Beneficiaries include six companies from Kenya and five from Ethiopia, focusing on improving access to solar technology such as solar-powered water pumps and refrigeration systems.

Aziebor emphasized the importance of bridging the investment gap to drive local economic development. The funding is part of a broader effort to unlock nearly $16 billion in annual income and create 50 million new jobs across Africa over the next decade.