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New Moon Nigeria Limited
Last updated on 7 Feb 2023
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New Moon has been supporting small growing businesses in the renewable energy sector. Most of the SGBs started as sub-grantees saddled with the responsibility of providing mini-grid solar energy to vulnerable communities in Nigeria. In 2010, New Moon established incubation programs for the SGBs to ensure knowledge transfer and some form of small grants to ensure their takeoffs. While New Moon is for profit, it decided to embark on the incubation program for SGBs in Kogi state, Kwara state, and FCT as part of its CSR mandate. So far, NewMoon has supported over 20 SGBs in the last five years. Going forward, NewMoon is planning to establish an Assembling Plant which is expected to take off in Lokoja, Kogi state capital; the proposed job creation will come through about 100 new SGBs spread across 6 states in the North-central region. Many of the SGBs will be selected to pass through the company's incubation program while few will go through the investment readiness program. As part of the take-off process with the funding ticket coming from both CBN and NewMoon international funding partners, approximately 2.5% of the ticket size has been set aside for both the incubation and investment readiness programs.