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Chido Nwakanma
In a significant move for Africa’s energy sector, SteamaCo and Shyft Power Solutions have merged to advance the digitisation of power infrastructure across the continent. Chido Nwakanma, a renowned communications professional and journalist, describes this merger as a transformative partnership that could reshape Nigeria’s energy landscape and address longstanding challenges in power delivery.
SteamaCo, a UK-based leader in energy revenue management, and Shyft Power Solutions, a Nigerian pioneer in digital energy solutions, bring together years of expertise to modernise Africa’s power grids. Nwakanma highlights that their combined strengths aim to unlock reliable, sustainable, and productive energy solutions for Nigeria and beyond.
According to Nwakanma, the cornerstone of this merger is the commitment to deploying cutting-edge technology to enhance operational efficiency and accountability. Technologies like Shyft’s FlexView and SteamaCo’s Nimbus Advanced Metering Infrastructure (AMI) will revolutionise Nigeria’s electricity industry. These innovations facilitate real-time monitoring, accurate billing, and better energy management, thereby increasing consumer trust and reducing operational inefficiencies. “This technology empowers consumers by providing reliable access to information, enabling better energy usage and reducing waste,” Nwakanma says. He further asserts that these advancements could spur economic growth, create jobs, and mitigate climate change.
The timing of the merger is strategic, aligning with Nigeria’s evolving regulatory environment that supports independent power producers (IPPs) and utilities. Nwakanma points out that these changes present investment opportunities in grid intelligence and metering while meeting the rising demand for distributed energy resources, such as solar home systems and mini-grids.
Another noteworthy aspect of this partnership, according to Nwakanma, is its focus on diversity in leadership. The predominantly female-led management team is a rarity in Africa’s tech and energy sectors. He lauds Ugwem Eneyo, Co-Founder and CEO of Shyft Power Solutions, for her leadership and deep understanding of Nigeria’s energy landscape. Citing data from Africa: The Big Deal, Nwakanma notes that only 13% of venture capital funding in Africa goes to female-led startups. He commends the merger as a progressive step toward gender inclusivity, which drives better outcomes in sectors as critical as energy.
Nwakanma underscores the significance of this merger in light of Nigeria’s ongoing power grid challenges. He asserts that the inefficiencies of government-owned power providers and the private-sector replacements’ inability to deliver on promises have left a glaring gap in energy delivery. “Approximately half of Nigeria’s population lacks adequate access to electricity, while those connected face daily blackouts,” Nwakanma states, emphasizing the urgency for innovative solutions.
This merger is a direct response to such challenges. Nwakanma explains how SteamaCo and Shyft’s data-driven solutions can help utilities streamline revenue management, enhance efficiency, and mitigate downtime. He also highlights their vision of enabling smart cities and fostering sustainable communities, which underscores the broader goal of economic advancement and environmental resilience.
The partnership is bolstered by a new funding round led by Equator VC, with participation from Praetura Ventures and KawiSafi Ventures. According to Nwakanma, these investors bring a wealth of experience in African and climate-tech ventures, setting the stage for rapid market expansion and increased customer reach.
In conclusion, Nwakanma describes the SteamaCo and Shyft Power Solutions merger as more than a corporate deal. “This is a bold step toward a sustainable, inclusive, and technologically advanced energy future for Nigeria and Africa,” he writes. By leveraging digital transformation, the partnership aligns with Africa’s energy reforms and offers a pathway to a brighter, more energy-secure future.
