Secure Financial Feasibility
Introduction
With only about 55% of the population having access to electricity (IEA et al., 2020), Nigeria is an attractive market for off-grid solar companies. This section will outline the challenges standalone solar (SAS) and mini grid developers face while accessing finance for their businesses, and provide some guidance on what can be done to tackle these.
This section will firstly describe different key components of financing. Afterwards three challenges of accessing finance are highlighted, followed by three different guiding principles, each of them illustrated by practical examples from established companies. Please keep in mind that this section focuses on business financing and how to access finance for your company. Accessing finance is only one part of a successful business model.
For more details on this area, please also consult the “Designing management and business models” section.
