Bboxx and Kuwait-based EnerTech partner to create a $100 million electrification platform for Africa
Millions of Africans are set to get access to clean energy, clean cooking, e-mobility services and other innovative products following the announcement of a first-of-a-kind electrification platform, valued at up to USD$100 million. This pioneering initiative is the outcome of a partnership signed at COP28 between Bboxx, a data-driven super platform, and EnerTech, a Kuwait-based innovator, investor and developer of end-to-end sustainability solutions.
This partnership marks a joint commitment to deliver clean technologies and will enable Bboxx to expand its impact tenfold, from currently serving 3.6 million people to benefiting 36 million people by 2028.
The collaboration marks a transformative phase in Bboxx’s ability to transform lives across sub-Saharan Africa, from Lagos to Nairobi. Bboxx’s approach involves connecting consumers with a variety of innovative products at scale throughout the continent.
Central to its rapid scaling capabilities is Bboxx Pulse®, a fully integrated operating system, with an extensive on-the-ground network that connects customers with clean energy, clean cooking, smartphones, smart financing, and e-mobility, many of which are being accessed for the first time by these communities.
Funding from this first deal with EnerTech, expected to commence in the first quarter of 2024, will facilitate rapid development and deployment of these essential services. The investment is to significantly deepen Bboxx’s market penetration and, subsequently, its impact on underserved individuals and communities.
“With this strategic alliance, Bboxx will turbocharge the impact we have on communities across sub-Saharan Africa.” said Mansoor Hamayun, CEO at Bboxx. “Our shared vision is to transform the lives and livelihoods of our customers by giving them access to clean and affordable energy, clean cooking, e-mobility and technology like smartphones, that genuinely unlock their potential, day by day. This collaboration with EnerTech is a testament to our commitment to providing sustainable solutions to communities across Africa.”
Mr Hamayun added “This is the latest example of partners seeing and seizing this massive market opportunity and plugging into Bboxx – developed through green tech and big data and designed for scale.”
Abdullah Al Mutairi, CEO of EnerTech, said “Through our partnership with Bboxx, we are delivering on our mission to drive impactful, transformative projects that uplift climate-affected, underserved communities. The electrification platform will deliver much needed climate finance to projects that are set to have a beneficial impact on communities – aligning with the UN Sustainable Development Goal for providing affordable, reliable, and sustainable energy access. The collaboration will also play a pivotal role in our progress towards carbon neutrality and delivering real change on the ground.”
This announcement marks the beginning of a series of strategic partnerships with the State of Kuwait, which aims to reach Net Zero by 2060 and is a key player in shaping and advancing the carbon market in Africa.
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