All On invests $250,000 in ICE Solar to support Nigerian SMEs
All On has committed an additional $250,000 to ICE Solar Commercial Power Limited, building on an earlier investment in the renewable energy provider. The impact investment firm said the funding will help extend solar and battery systems to small and medium enterprises currently dependent on expensive fuel generators for electricity.
ICE Solar founder Emmanuel Ekwueme said the capital injection will enable his company to reach more than 2,000 businesses while reducing reliance on petrol generators. Caroline Eboumbou, who leads All On, emphasized that small businesses form the foundation of Nigeria’s economy and require dependable power supplies to maintain productivity.
The Energy-as-a-Service model allows entrepreneurs to access clean electricity through flexible payment arrangements with remote monitoring capabilities, addressing infrastructure challenges that affect operational costs across the commercial sector.
