How do solar energy companies in Nigeria verify the credit-worthiness of their customers?
There is a new trend around the world – Solar energy companies are providing solar panel leases or loans to their customers. These companies are allowing their customers to pay for installation of their solar panels over an extended period of time.
This model is easily implemented in countries where customers’ financial history is readily available and current financial standing can easily be monitored. In a country like Nigeria, companies need to get a bit more creative to keep tabs on their customers.
That’s why our client (The product management team of a U.S. solar panel startup with operations in Uganda) wanted to understand the vetting process of companies that are selling mobile-payment-enabled solar panels in Nigeria.
We found a market research specialist in our network that took up the competitive intelligence project for our client. Our consultant performed a set of due-diligence tasks outlined by the client to obtain the necessary intel. Our client was provided with the necessary insight and answers to make better strategic decisions, and mitigate risk by improving their customer verification process.
“We engaged kpakpakpa to provide on-the-ground input on the market landscape in Nigeria. Throughout the project, the team was incredibly professional, responsive, and thorough. Certainly recommended!” – Labs Manager, Solar Panel Company.