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Nigerian solar power provider AllBase plans to expand to Angola

By David Whitehouse
Posted on Wednesday, 3 March 2021 15:51

Nigeria’s AllBase Energy is planning to deploy its solar power distribution system to Angola in the third quarter as part of its African expansion plan, CEO Kunle Odebunmi tells The Africa Report.

The company has people on the ground in Angola developing strategy and plans a funding round for “several million dollars” in the second quarter. This will pay for the Angolan entry as well as to increase penetration into the Nigerian market, Odebunmi says from Lagos.

The company will seek equity funding in the coming round and is likely to shift to a mixture of debt and equity in future rounds, he adds.