New Energy Nexus (NEX) and Clean Tech Hub have announced new partnership to accelerate diverse clean energy entrepreneurs across Nigeria and West Africa.
According to a recent statement by the organization, this will help the development of local ecosystems to support climate solutions across the country and West Africa at large.
In addition to that, the statement indicated that the partnership will help leverage NEX’s expertise in accelerating clean energy startups around the world through funds, skills and networks at the most critical stages of an entrepreneur’s journey to build their climate solution.
New Energy Nexus(NEX) is one of the world’s leading ecosystem of funds and accelerators supporting diverse clean energy entrepreneurs.
“We are excited to meet New Energy Nexus in this partnership and to continue supporting clean energy startups,” said Ifeoma Malo, CEO and co-founder at Clean Tech Hub.
“Our partnership with New Energy Nexus will allow us to further scale our impact as we expand across West Africa – a particularly urgent task given the need for grassroots and locally developed solutions to tackle the climate crisis.”
Since 2004, NEX has leveraged US$1.5 billion in investment, invested in over 100 clean energy enterprises, and supported over 450 more through its industry leading programs.
The partnership, according to the statement, is a region-wide acceleration program for West African countries with a climate fintech program in Nigeria already in an early design stage.
Also, it stated that West Africa is at the forefront of climate change impacts, but is also poised to be a center for economic growth and innovation.
Read also: Growing insecurity poses risks to Nigeria’s energy projects
While noting this, it indicated that Nigeria, already the largest economy and population in Africa, is projected to have the 14th largest economy by GDP in the world by 2050.
This, according to the statement, means over 30 percent of Nigerian residents are new entrepreneurs or the owner/manager of a new business – among the highest rates in the world.
Meanwhile, West Africa, home to more than 380 million people, is one of the youngest and fastest growing populations in the world.
“There are not enough diverse and thriving clean energy entrepreneurs to match the scale of the clean energy transition, at the global level, let alone in the regions we need it most.
“That’s why we are thrilled to partner with Clean Tech Hub. Not only is it Nigeria’s leading organization supporting clean energy innovation, it is perfectly positioned to scale local climate solutions across West Africa,” said Danny Kennedy, CEO of New Energy Nexus.
Clean Tech Hub is an early start-up incubator for inventions and innovations in clean energy, a consultancy for sustainability and energy efficiency solutions and a driver of clean energy investment into Africa.
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