The new services being studied would be for West African markets and would be rolled out on a pay as you go (PAYG) basis, Coster says on the sidelines of the Africa CEO Forum in Abidjan. Partners would be needed for product design and manufacturing, and decisions are likely to be taken in the next 12 months, he adds.
Baobab+ is part of Baobab Group, which provides financial services to individuals and small businesses in Africa and China aimed at broadening financial inclusion.
Coster wanted to branch out from microfinance which, he says, is largely concentrated on urban and peri-urban populations. Renewable energy, he says, has the “potential to extend financial inclusion into rural African areas.” He stayed within the Baobab Group to set up its renewable activity arm in 2018.
Key markets for Baobab+ are Nigeria and the Democratic Republic of Congo (DRC), and it also operates in
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