A groundbreaking financial inclusion solution has been designed by Betapawa, a Nigerian startup, to cater to off-grid and underserved communities. This innovative banking system relies on solar power, revolutionizing the way finances are accessed and managed in these underserved regions. Betapawa, established in 2022, one year ago, is dedicated to transforming the accessibility of financial services, promoting green energy alternatives, and bridging the digital divide through the implementation of solar-powered banking centers in remote communities in Nigeria.
Its ultimate aim is to empower marginalized communities through comprehensive solutions that encompass financial inclusion, Sustainable Energy options, and enhanced connectivity. The solution offered combines renewable energy, tailors services to fit the specific requirements of each community, and enables mobile banking to be brought directly to the people, thus fostering Economic Development and adaptability. Acting as versatile hubs, these centers provide a wide range of services such as electricity, internet, financial assistance, education, and healthcare aid.
Their solutions possess the capability to drive financial inclusion.
Samuel Ajisebutu, the CEO of Betapawa, revealed that their analysis revealed a significant void in the market. This void pertained to the absence of holistic solutions centered around communities residing in off-grid and underserved regions. Such solutions should possess the capability to not only drive and expand financial inclusion, but also tackle the insufficiency of electricity, internet, and crucial services in numerous remote areas. Recognizing this gap, Betapawa envisioned a chance to bridge it and create a solution.
Betapawa has been able to achieve this by introducing sustainable and solar-powered hubs. Despite not having received any financial backing as of yet, the startup was recently chosen to participate in the most recent edition of the ASIP accelerator program by Startupbootcamp AfriTech. While currently seeking Investment opportunities, Ajisebutu emphasized that the company has still managed to reach important milestones, such as successful pilot endeavours and acknowledgement for its groundbreaking strategies. He expressed satisfaction with the progress made in the utilization of their solar-powered hubs.
They have had positive impacts on underserved areas.
These innovative hubs have been successfully implemented in healthcare facilities and underserved communities that were previously without consistent Electricity and essential services. Their positive impact on these areas has been significant. Betapawa is currently active in Nigeria, but the company has ambitious goals to expand its operations to neglected regions within the country and also explore potential opportunities in other Sub-Saharan African countries. The primary source of Revenue for the company is derived from pay-as-you-go charges for energy and connectivity subscriptions.
Additionally, Betapawa earns rental fees from Fintech partners who utilize their hubs to extend their services to the underserved communities. Ajisebutu, the company’s representative, noted that as Betapawa expands its presence, revenues have been consistently on the rise. Betapawa has been facing obstacles when it comes to securing financial resources and expanding its operations. Ajisebutu emphasized the significance the startup assigns to securing the continued existence of resources and fostering robust connections with the community.
Solar energy has been considered as a vital source of renewable energy.
Furthermore, he highlighted their innovative nature as a corporation that integrates renewable energy, technology, and the promotion of social Welfare. This integration allows them to tackle pressing issues that confront off-grid and underserved communities, actively contributing to their economic advancement and enhancing their overall standard of living. Solar Energy has been considered as a vital source of Renewable Energy. Also, its technologies are classified as either passive solar or active solar. Their classification solely depends on how they capture and distribute solar energy or how they carry out conversion into solar power.
