Orange Smart Energies to Support African Energy Producers
Energy Producers in the Middle East and Africa can now utilize Orange Smart Energies, an IoT-based digital software.
- The software ensures that suppliers get their dues.
- It relies on the IoT, including smart energy meters, to facilitate access to energy for all.
Energy producers in Africa and the Middle East can now access Orange Smart Energies, adding another company to the growing list of investors backing Africa.
Over the last couple of years, we’ve witnessed an increasing interest in investing in Africa, whether supporting existing projects or making their products available across the continent. In 2012, Y Combinator (YC), an American technology startup accelerator that has invested in the likes of Airbnb, OpenAI, and DoorDash, backed its first African startup, Wave. This mobile money app is now one of the top earners for YC. Since then, it has invested in over 95 African startups, including Nigeria’s Paystack, Anchor, Bamboo, Chowdeck, and Aella. Also, in 2022, Amazon confirmed its expansion into Africa, starting with South Africa and Nigeria.
Orange Smart Energies
Taking a page out of Amazon’s playbook, the French telco Orange announced it was bringing its Internet-of-Things (IoT)-based digital platform. Orange Smart Energies provides easy, prepaid access to energy through solar kits and smart energy meters. Through this, Orange works toward ensuring that all individuals, irrespective of their background, have equal access to energy opportunities. It is especially useful in Africa since it allows energy to reach the more remote rural areas.
Orange Middle East and Africa CEO, Jérôme Hénique, stressed the need to equalize access, saying, “Opening our Orange Smart Energies platform to all energy producers marks a significant advancement in our mission towards universal energy access in Africa and the Middle East.”
Energy suppliers often face challenges when it comes to clients not paying their fees. Orange Smart Energies’ IoT technology determines and helps mitigate this through mobile money. And now that Orange’s smart energy solution is available in Africa and the Middle East, this issue won’t be much longer.
Like a Moth to a Flame
The few companies mentioned above are just the tip of the iceberg when it comes to investments in Africa. Investors are attracted to the continent for a host of reasons. For one, it has the world’s largest free trade area, which joins 55 countries of the African Union (AU) and 8 Regional Economic Communities (RECs).
For two, the African rates of entrepreneurship are the highest worldwide, with more than 1 in 5 working-age Africans opening new businesses. Africa also has a history of 7 unicorns, privately held companies valued at $1 billion or more.
For three, Africa is youthful, having more than 60% of its population under 25 years old. Most of them are tech-savvy and quite eager to adopt new technology, creating a large consumer base for tech products and services.
Finally, many African countries and regions display a lack of infrastructure in industries like finance and communications when compared to their counterparts. This deficit is the perfect opportunity for foreign companies to establish themselves and their technologies without as much hassle. For example, compared to others, Africa’s banking system leaves much to be desired which helped boost fintech in the region.
Final Thoughts
By introducing its Smart Energies software, Orange also recognizes Africa as a well of talent and opportunities. What had seemed disadvantages for businesses in the past ended up making African countries attractive to foreign investors.
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