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Nigeria

Metro Africa Xpress (MAX), a mobility financing company based in Nigeria, has closed a $24 million funding round comprising both equity and debt as it progresses with its shift toward electric mobility financing across West and Central Africa, following the achievement of profitability in its Nigerian operations.
However, energy analysts warn that the pace of progress remains grossly inadequate when weighed against the country’s population growth, weak financing structures and pending infrastructure deficits, raising concerns over whether current interventions can deliver universal energy access anytime soon.
No fewer than 500 young Nigerians have completed a six-month solar energy training programme under the GreenWorks Africa programme, targeted at expanding access and unlocking billions of Naira in economic opportunities in the country’s clean energy market.
Beneath the headlines of slowing private equity acquisitions, a more sophisticated tool is quietly gaining influence: securitisation. Securitisation is poised to become a popular financing tool in Africa, particularly for meeting massive development needs in infrastructure, energy, and housing.
The Lagos State Electrification Agency (LSEA) has installed over 22,000 solar-powered streetlights across the metropolis. For decades, Lagos relied heavily on grid electricity and diesel-powered lamps to keep its streets bright at night. LSEA said the system was costly, unreliable, and environmentally harmful.

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