PEG Africa, which is a Ghana-based solar energy provider and the largest provider of electricity in Africa, has been acquired by Bboxx.
This deal cements Bboxx’s stance as the leading super platform for getting an essential product and offering essential services in Africa.
PEG is the leading solar energy provider in West Africa and has touched practically everywhere in the region, with the company having almost 100 service centres and over 500 employees, while the new owner Bboxx, is known to have provided essential services to over 2.5 million people in Africa with access to clean energy amongst others and with its new acquisition, it will have over 250 and 4,000 employees to his disposal – it will also gain new grounds as it will be introduced to markets in West Africa such as Ivory Coast, Mali, Senegal and Ghana which makes it functional in 10 countries across Africa.
There are a lot of benefits which both sides of this deal will enjoy as Bboxx will enjoy PEG Africa’s operational and credit experience while PEG customers will be introduced to new products, services, and digitalisation that Bboxx offers.
Note: The financials of the deal weren’t made public.
In a statement, the CEO and co-founder of PEG Africa, Hugh Whalan, said:
“We have built a pioneering energy provider in West Africa and have been extraordinarily lucky to do it with a group of remarkable people passionate about making a positive impact in the world. We look forward to greater impact on the bigger scale achieved through joining forces with Bboxx”.
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The CEO and Co-founder of Bboxx, Mansoor Hamayun, has also stated that the company founded 12 years ago was intended to change lives and unlock the potential of billions of its customers through essential products and services, including clean energy, financial services and clean cooking to them. He said:
“While we have made great strides in this mission, there is still plenty more to do. In West Africa alone, there are over 150 million people with access to no electricity. By gaining access to new markets and utilising PEG’s impressive operational experience, we will strive to change that.
PEG’s founders, Hugh and Nate, have built an exceptional company that has changed a million lives for the better. Their dedicated team, great customer service, and focus on customer experience will not only make Bboxx stronger as we come together to continue to drive economic development across Africa. I am delighted to bring PEG into the Bboxx family”.