Lumos Nigeria has signed a debt financing agreement with All On, a Nigerian off-grid energy investment company, as part of a project aimed at providing affordable solar electricity to families, homes and businesses in the Niger Delta. The Lumos Mobile Electricity Service (LMES) is currently impacting the lives of close to 500, 000 Nigerians across close to 90, 000 subscribers.
The company is the provider of home solar energy through its Lumos Yéllo Box. The agreement which was sealed in Port Harcourt, Rivers State, will help Lumos to accelerate the entry of its service into hard-to-reach areas within the region.
Speaking on the development, the Chief Executive Officer of Lumos Nigeria, Mr. Houssam Azem, said: “This debt facility from All-On further cements the strategic relationship between Lumos and All-On, and is geared towards the penetration of Lumos Solar Home Systems in the Niger Delta.
Culled from: Daily Trust