Baobab+ partners with Monnify to boost renewable energy access in Nigeria

Baobab Plus Nigeria has entered into a partnership with Moniepoint Inc., a leading financial services provider, to enhance energy access and financial inclusion across Nigeria. Through Monnify, Moniepoint’s Payment Gateway Service, the collaboration aims to simplify customer payments for Baobab+ solar energy products and digital solutions.

The partnership introduces a payment system that enables customers to make instalment payments using dedicated virtual accounts. Monnify’s infrastructure allows for payments through mobile wallets, bank transfers, and cards, ensuring a seamless and efficient process. This initiative supports Baobab+ customers in building credit histories while accessing clean energy solutions.

Speaking at the partnership signing ceremony in Lagos, Kolawole Osinowo, CEO of Baobab Plus Nigeria, highlighted the importance of the collaboration. “This partnership is a significant milestone in our mission to provide energy access and economic empowerment through life-changing solar products to communities across Nigeria. By leveraging Monnify’s reliable payment processing infrastructure, we are not only simplifying the payment process but also driving economic access for our customers.”

Ifeanyi Duru, Senior Vice President of Enterprise Network Sales at Moniepoint Inc., expressed the company’s commitment to financial inclusion. “At Moniepoint, we believe that financial inclusion is critical to unlocking our nation’s huge economic potential. Our partnership with Baobab+ Nigeria allows us to extend our reach and provide essential financial services to underserved communities. Through Monnify, customers can now pay for their solar solutions with unparalleled ease and convenience, whether it’s through mobile wallets, bank transfers, or cards, with the knowledge that access to clean energy is a great lever for improving socio-economic conditions.”

Baobab+ continues to expand its presence in Nigeria by opening new stores in Ile-Ife, Ikare-Akoko, Ore, Ondo, and Mowe. These stores aim to increase access to clean energy solutions in rural areas while promoting financial inclusion through the company’s Pay-As-You-Go model.

With millions of Nigerians lacking reliable electricity, Baobab+ remains focused on bridging the energy gap and driving sustainable development.