In a groundbreaking move, Coscharis Technologies Limited, a subsidiary of the Coscharis Group, has secured $4 billion to fund renewable energy projects aimed at providing reliable power solutions for businesses and startup firms in Nigeria. This initiative is set to reduce the country's dependence on fossil fuels while contributing to global sustainability goals. The primary focus of the project will be to deliver solar energy solutions to businesses in various sectors, including government entities, banks, manufacturing companies, and SMEs. Over time, the initiative will extend its benefits to individuals and residential communities as well. Sunday Mukoro, Managing Director of Coscharis Technologies Limited, who finalized the deal in Delhi, India, emphasized the importance of renewable energy in addressing the power challenges that have hindered business growth in Nigeria. He noted that the funding will offer businesses a "soft landing" by providing reliable energy sources that will foster seamless operations. “These funds will be made available to Nigerian entrepreneurs and other business entities committed to running their operations with dependable power. It’s an opportunity for businesses to convert power challenges into growth opportunities,” Mukoro stated. Highlighting the economic importance of consistent power supply, Mukoro underscored that the strategic allocation of the $4 billion will enable large enterprises, as well as SMEs, to thrive. The initiative will operate under carefully structured agreements that outline repayment periods, ensuring its long-term sustainability. Cosmas Maduka, President and CEO of Coscharis Group, applauded the Coscharis Technologies team for this significant achievement. He praised the team, led by Mukoro, for positioning the company as a "game changer" in Nigeria’s ICT and energy sectors. “This accomplishment reinforces our commitment to delivering value across all sectors where we operate. The Coscharis Technologies team has proven that they are ready to disrupt the ICT sector in Nigeria and beyond,” Maduka remarked. Coscharis Technologies will collaborate with international partners and local communities to implement the project in an environmentally responsible manner. The fund will be disbursed without undue interference from government or external parties, ensuring transparency and efficiency.
Coscharis Technologies Limited is a key player in the Information Communication Technology (ICT) sector in Nigeria and sub-Saharan Africa, driving innovation and growth across various industries.
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