InfiBranches
This company is an interesting inclusive business in the Nigeria fintech space, combining innovative financial products for the poor with an emphasis on financing renewable energy solutions, mainly for productive use.
The company combines a financial platform with point-of-sale services to the poor through a series of agents in the target communities. InfiBranches expects to end 2022 with about one million transactions (perhaps 8 per cent of which will be in the solar business) from 250,000 customers.
The company anticipates 5 million transactions in 2023 and 12 million in 2025, serving about 2 million customers. In 2019 the company had 1,200 active agents (with 1,000 women). The company projects that it will have about 80,000 agents by 2025. The company expects N70 billion ($108 million) in revenue and 159,000 household connections in 2022.