Are you Reeddi for clean energy on the go? 💡
Reeddi pronounced Ready.Hello Venturer,If you are in Nigeria, chances are that you are home reading this newsletter without electricity at the moment. You are also asking if this writer has some psychic power to have guessed right. Well, this is Nigeria, and in the words of the great poet Tekno, "generator wan tear our ear."According to the World Bank, 43 per cent of Nigeria’s population does not have access to grid electricity, making it the country with the largest energy access deficit globally. But who cares about statistics when we have generators. I can afford fuel, so I better Pass My Neighbour. However, I hope you are aware that fuel-generated energy is not renewable and contributes to the adverse effect of climate change that threatens human existence. I am not ready to go into extinction, so this week, I introduce to you Reeddi, a company providing clean energy on the go at an affordable price to individuals and businesses in rural and urban African communities.Adekunle AgbetiloyeStaff Writer, Ventures Africa.
Olugbenga Olubanjo's Reeddi capsule is helping Nigerian businesses gain access to clean energy.
Although Nigeria has the potential to generate about 11,000-12,000 MW of electric power from existing plants, the country is only able to generate about 4,000 MW, which is less than one-third of what is required to provide for its population. The majority of the businesses in Nigeria spend N5 trillion annually to generate their electricity. Read more on how Olubanjo is providing them with affordable renewable energy.
Nigerian digital commerce solution, OurPass launches app and raises $1m pre-seed round.
OurPass, the digital commerce solution often referred to as the Fast for Africa, officially launched its mobile app recently. OurPass enables consumers to shop with one click, thereby reducing abandoned carts and increasing sales for merchants. Shopping Cart abandonment rate, which is about 69.57 percent on average, has posed a headache for the online retail industry, and there is a projected four trillion loss in the coming year. Read more on how OurPass helps in reducing this figure.
Heifer International announces appointment of Rufus Idris as Nigeria Country Director.
Working with rural communities in 21 countries in Africa, Asia, and the Americas, including the United States, Heifer International supports farmers and local food producers to strengthen local economies and build secure livelihoods that provide a living income. To operationalize Heifer International’s global mission and strategy in Africa’s largest and most populous economy (Nigeria) the organisation announced the appointment of Rufus Idris as its new Country Director. Learn more.
Nigeria's sesame export has a potential market value of $1.5 billion.
According to the National Bureau of Statistics, Nigeria’s agricultural exports totalled N127 billion in the first quarter of 2021. The figure represents a 128 per cent increase over N55.8 billion in the fourth quarter of 2020. Sesame topped the list of agro-export commodities in Nigeria, and the country has long been one of the top sesame seed producers. According to the Food and Agriculture Organization Statistical Databases, Nigeria is the world’s seventh-largest producer of sesame (FAOSTAT). Read more to know how the cash crop has the potential to bring in $1.5 billion for the country if properly maximized.
Heifer International selects founders of Coldhubs and Hello Tractor as winners of inaugural AYuTe challenge.
Across Africa today, young, creative professionals are deploying tech innovations that are reimagining farming and food production. Nnaemeka Ikegwuonu, founder and CEO of ColdHubs, a Nigerian business that provides solar-powered, walk-in coolers for smallholder farmers and Jehiel Oliver, founder and CEO of Hello Tractor, a Kenyan company that has become known across Africa as the “Uber of tractors,” have been selected as winners of the inaugural US$1.5 million Heifer International AYuTe Africa Challenge. Learn more.
Glovo is officially in Nigeria, redefining tech driven on-demand delivery.
The concept of on-demand delivery service has redefined comfort, efficiency, and convenience for users across all consumer services, product categories, and just about everything. Glovo connects users and couriers, allowing them to order any product or food item with a simple tap on their smartphone, and have it delivered to them by a Glovo rider, called a Glover. Currently present in 23 countries globally, Nigeria becomes the latest and largest market of its operations by population size. Learn more.
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