116. Four Companies Creating a Market for Solar Energy in Nigeria: A Conversation with Efosa Ojomo and Sandy Sanchez

Last June, Efosa Ojomo and Sandy Sanchez were on the podcast to discuss the process of market creation - discovery, distribution, and democratization - and specifically, as it applied to the creation of a market for solar energy in Nigeria. In this new episode, they return to the recording studio to share with us specific examples of four companies that are getting it right. SunFi, co-founded by HBS alumnus Tomiwa Igun, highlights successful employment of an emergent rather than deliberate strategy; Steamaco illustrates benefits drawn from a clear understanding of customers' Jobs To Be Done; Husk Power Systems exemplifies the strength of pull (as opposed to push) strategies in emerging markets; and Auxano is a company now firmly in the midst of the important distribution phase of the market creation process. There are lessons to be learned from all four of these examples, businesses that to-date have been successful in addressing barriers to market creation in the energy sector in Nigeria. In this conversation, Efosa and Sandy reflect on these learnings. Of further note is that, for listeners wanting to learn more, the duo have also recently published a paper entitled, Accelerating The Adoption of Solar Energy in Nigeria: A Market-Creation Strategy. As Efosa says, “People don’t want solar. People want progress.” With this in mind, real advancements can be made towards reaching the last stage of the market creation process - democratization, and in this case democratizing access to electricity in Nigeria and beyond.