ImpactAlpha, September 7 – PEG Africa launched its pay-as-you-go solar business in Ghana in 2013 and has since expanded to Senegal, Ivory Coast and Mali. Half its customers earn less than $3 per day; more than 80% had no prior access to grid energy or credit.
U.K.-based Bboxx acquired PEG to expand its presence in West Africa. Bboxx says the deal expands the company’s off-grid solar, financial and other services to 3.5 million people in 10 African markets.
ImpactAlpha reported in April that Bboxx was in talks to acquire PEG. Terms of the deal were not disclosed.
Bboxx is doubling-down on low-income customers with new products and services that complement its pay-as-you-go solar business.
“We see ourselves more or less as a ‘super platform’ that is connecting a digital relationship with a household, with a physical relationship that is initially enabled by some sort of basic utility,” Bboxx’s Mansoor Hamayun told ImpactAlpha in July.
PEG’s new product and business lines include solar irrigation pumps and providing solar systems for rural health clinics.