Africa’s energy sector is poised for a digital revolution. With the rapid adoption of technology, power companies can transform their operations, improve service delivery, and enhance customer experience.
The recent merger of SteamaCo, a UK-based leader in energy revenue management and Shyft Power Solutions, a Lagos-based pioneer in digital energy solutions, marks a turning point for the Nigerian and African energy sectors. These two leading energy technology companies have joined forces to fast-track the digitisation of Africa’s power grids, unlocking the potential for reliable, sustainable, and productive energy solutions. This is more than a business deal—it aligns strategically with the continent’s energy needs. By combining their strengths, the new entity aims to deliver transformative energy solutions and improved energy access across Nigeria and beyond.
The merger promises significant benefits for Nigeria’s energy sector. The most important is the enhanced technological capabilities that combine the expertise of both companies, which will lead to the development of more advanced and innovative energy solutions. The combined efforts of SteamaCo and Shyft can spur economic growth, create jobs, and mitigate climate change.
A notable aspect of this merger is the predominantly female-led management team, a rarity in the African technology and energy sectors. Ugwem Eneyo, Co-Founder and CEO of Shyft Power Solutions brings invaluable expertise, leadership, and a deep understanding of the Nigerian energy landscape. According to data from Africa: The Big Deal database, this merger is a significant step forward for female representation in a field where only 13% of venture capital funding in Africa goes to female-led startups.
The advanced metering technology introduced by the merged entity—such as Shyft’s FlexView and SteamaCo’s Nimbus AMI—will transform Africa’s electricity industry. Real-time monitoring, accurate billing, and enhanced energy management capabilities will empower utilities to reduce operational losses and improve service delivery.
Digital transformation areas like grid intelligence, data analytics, and renewable energy integration will further drive operational efficiency and customer satisfaction, ultimately contributing to Africa’s sustainable development.
Given recent challenges with Nigeria’s power grid and the failure to realise the eloquent promises of private-sector firms replacing government-owned providers, why does it matter? Community metering technology encompasses various systems designed to monitor and manage energy and water consumption within communities. This technology is particularly beneficial in enhancing efficiency, reducing costs, and promoting sustainability through real-time data collection and analysis.
Read also: Three trends transforming the energy sector in 2025
The merger occurs at a pivotal time when regulatory changes and rising energy costs have increased the demand for reliable power. With approximately half of Nigeria’s population lacking adequate access to electricity, and those connected often experiencing daily blackouts, the need for innovative solutions has never been greater.
SteamaCo and Shyft Power Solutions are poised to bridge this gap, helping utilities leverage data-driven solutions to streamline revenue management, enhance efficiency, and mitigate downtime. Their commitment to enabling smart cities and sustainable communities underscores their broader vision of fostering economic advancement and environmental resilience.
The merger occurs alongside a new funding round led by Equator VC and with participation from Praetura Ventures and KawiSafi Ventures, who collectively bring together decades of experience investing in African and climate-tech ventures. The merger paves the way for rapid expansion into the grid-connected market and increased customer reach.
SteamaCo has over a decade of experience providing advanced metering infrastructure (AMI) to energy companies in 20 African countries. It has transformed the energy sector with features like AI-driven loss detection for major power companies, including Aba Power. Its flagship product, Nimbus AMI, helps energy companies manage their networks, detect losses, and enhance customer service.
Shyft Power Solutions entered the Nigerian market nearly eight years ago with its cloud-based distributed energy resource management system and diesel management solutions, introducing its latest metering solution, FlexView, which offers enhanced reliability and allows energy consumers to monitor usage in near real-time, eliminating the need for tokens.
The SteamaCo and Shyft merger represents more than just a corporate union—it is a bold step toward a more sustainable, inclusive, and technologically advanced energy future for Nigeria and Africa. By embracing digital transformation, this partnership sets the stage for a brighter tomorrow.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
