A technology and power company, Grid Crux Energy Solutions, has unveiled a low-cost energy solution, MasSolar, to help solve Africa's electricity.
A statement by the organisation explained that over 580 million people in Africa lacked access to electricity, and that had led to negative impacts on the continent's economic growth, health, education, and social well-being.
It read, "MasSolar, an initiative of the company is tailored to provide easy access to sustainable energy via a digital, easy, paperless, and seamless credit approach to the residents and SME segments. The solution leverages technological advancements in consumer credit, unique customer identification, and a robust fintech backbone infrastructure to provide consumers with the easiest and quickest means to access credit for residential and SME renewable solutions in the market.
"We aim to eradicate energy poverty, promote energy equity, and ensure ease of access to energy for all."
Also, the Chief Executive Officer of Grid Crux, Mojola Ola, said that "Creating this solution was born out of a passion to aid individuals and small businesses of all works of life across Africa access sustainable energy without the hassle of paperwork or collateral burden. We believe this solution will provide answers to Africa's energy pain point."
Asides MasSolar, GC also unveiled other innovative solutions, which were set to revolutionise energy management while offering energy consumers several options, which will not only reduce their electrical bills but also monitor and manage energy consumption.
\xa0"GC offers an array of solutions across the energy value chain, including renewable energy solutions, energy management, utility and industrial storage solutions, microgrids and more. Aside from access to energy, these solutions are designed to improve network reliability and promote energy equity while optimising costs and consequently, alleviating energy poverty in Africa," the statement further read.