The energy crisis in Nigeria is fueling a growing market for decentralized solar power. Millions of businesses still depend on costly diesel and gasoline generators, as the country's unstable electrical grid disrupts operations and raises expenses. PowerGen is betting that solar and mini-grids can deliver more reliable electricity on a large scale. In an interview with Business Africa, Connor Shine, director at Delphos, discussed how commercial solar can compete with traditional generators, how the PowerGen operation manages currency risk, and whether this model could be replicated in other African markets.
Currency volatility poses a major challenge for clean energy investments across Africa. For companies building solar infrastructure, the depreciation of local currencies can raise the cost of imported equipment and complicate repaying loans in U.S. dollars. Shine explained how Delphos structured its financing to manage these risks within the PowerGen operation, raising a broader question: could similar financing models help speed up investments in decentralized energy in other African countries? Nations like Kenya, Ghana, and the Democratic Republic of Congo are also seeking to expand access to reliable electricity, creating opportunities for decentralized energy solutions.
After 65 years of diplomatic relations, Togo and Russia are deepening their economic ties. The two countries recently held the first meeting of their joint intergovernmental commission at the Palais des Congrès in Lomé. While trade exchanges remain limited, both sides are exploring opportunities to expand investments and economic collaboration. A central question remains: can a closer political relationship lead to substantial commercial opportunities for Togo and West Africa?
Africa's digital transformation is accelerating rapidly. According to the GSMA, 83 percent of connected Africans now use the Internet daily. Additionally, the mobile coverage gap on the continent has shrunk from 50 percent in 2016 to less than 15 percent today, due to continued investments in telecommunications. As connectivity improves, the next challenge is to turn this increased digital access into broader economic opportunities.
Nigeria's Energy Crisis Fuels Growth in Decentralized Solar Power; Togo and Russia Strengthen Ties
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