FBNQuest Merchant Bank partners with Kairos Investments Africa to bridge US$1B metering gap

NIGERIA – FBNQuest Merchant Bank and Kairos Investments Africa have announced plans for a national meter asset finance and management SPV that would attract long term financing for the mass roll-out of prepaid smart meters to millions of electricity consumers in Nigeria This is aimed at attracting long term finance for the mass roll-out of prepaid smart meters to millions of electricity consumers in Nigeria who currently are not metered by the electricity distribution companies (DisCos). Owing to a deficit of about US$1billion in financing the metering gap, the Nigerian…

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