Tech can accelerate the African renewable energy industry ~
Africa is ripe for renewable energy innovation, with the adoption of wind and solar resources a key solution to addressing energy security.
Ola Oyetayo, CEO of Verto, says this makes it a crucial sector to watch in emerging markets, with room for both innovation and growth. “This will require collaboration between markets, however, cross-border payments remain an issue and can hinder the development of resources and expansion across regions in need.”
“Sticking with the traditional methods, however, may be leaving these businesses vulnerable to problems that prevent them reaching their full potential. Common issues surrounding traditional methods are the high costs associated with cross-border payments, from high transaction fees, long settlement times, and losses due to exchange rate fluctuations.
For renewable energy firms, remaining innovative with clean energy solutions to reach sustainability goals is imperative, but this needs to go hand-in-hand with innovative technology when it comes to making and receiving payments. Accessing digital financial services catered to delivering solutions to African markets provides support for business growth, an improved way of life, and ultimately, a better planet.
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