In a groundbreaking move aimed at transforming Nigeria’s energy landscape, Baobab+ Nigeria has signed a strategic partnership with LAPO Microfinance Bank and GreenMax Capital Group to expand access to clean, affordable, and reliable solar energy solutions across the country. The Memorandum of Understanding (MoU) was officially signed at LAPO’s Head Office in Lagos, bringing together top leadership from all three organizations.
The partnership is set to deliver a new wave of solar energy connections to underserved individuals, families, and small businesses across Nigeria, combining Baobab+’s quality renewable energy products, LAPO’s inclusive credit infrastructure, and GreenMax’s risk-backed capital solutions.
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Group CEO of Baobab+ Nigeria, stated: Kolawole Osinowo, “We’re excited to join hands with LAPO Microfinance Bank and GreenMax Capital Group to unlock affordable, reliable solar power for Nigeria’s underserved homes and small businesses. By weaving inclusive credit, quality renewable energy, and risk-backed capital into one bold fabric, we’re not just switching on the lights. We’re switching on opportunity and accelerating our march toward #SDG7.”
The meeting in Lagos had the Group CEO of Baobab+ Kolawole Osinowo; Chief Operating Officer of Baobab+ Nigeria, Kolawole Oguntuase, and the senior team members from the Baobab+ Group. They were warmly welcomed by the Managing Director of LAPO Microfinance Bank, Cynthia Ikponmwosa, along with senior executives of the LAPO team.
With over 500 branches and 1.4 million active clients, LAPO Microfinance Bank provides an expansive distribution network to scale Baobab+ solar home systems, generators, and power stations. Through this partnership, customers in over 100,000 rural and peri-urban communities can now access these energy solutions via flexible, income-based financing options.
MD of LAPO Microfinance Bank, Cynthia Ikponmwosa, commented: “At LAPO, our mission has always been rooted in financial inclusion and social impact. By partnering with Baobab+ and GreenMax Capital, we are expanding that mission to include energy empowerment, making clean, reliable power accessible to low-income communities nationwide. This initiative is not only about energy access. It’s about resilience, opportunity, and inclusive growth.”
The collaboration directly supports United Nations Sustainable Development Goal 7 (SDG 7), which calls for universal access to affordable, reliable, sustainable, and modern energy. With Nigeria’s erratic electricity supply and rising fuel costs, demand for renewable alternatives has never been more urgent.
By integrating solar tech, inclusive microfinance, and catalytic investment, the three organizations are creating a powerful delivery model that aligns social impact with business viability.
“Together, we’re not just providing solar solutions,” Osinowo emphasized, “we’re unlocking opportunity, powering resilience, and lighting up the future for thousands of communities across Nigeria.”
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Beyond delivering solar products, the partnership underscores a broader commitment to financial empowerment, inclusive development, and community resilience. Entrepreneurs, farmers, artisans, and families will now have the tools to power their homes and businesses, increasing productivity and reducing dependence on unreliable grid power or expensive fuel.
GreenMax Capital Group adds strength to the initiative through risk mitigation strategies and blended finance support, making it easier to reach last-mile users while ensuring long-term viability.
With the signing of this MoU, Baobab+ Nigeria, LAPO Microfinance Bank, and GreenMax Capital Group are not just expanding energy access. They are pioneering a movement. A movement that will light up homes, strengthen businesses, and give power, literally and figuratively, to those who need it most.
This is more than a partnership. It is a catalyst for progress, a beacon of inclusion, and a bold step toward a sustainably powered Nigeria.
