Key Takeaways: Bridgin at GOGSFE 2024

The following piece was written by Manon Dubois, our Fintech Business Lead, who attended the GOGLA Global Off-Grid Solar Forum & Expo 2024 (GOGSFE24) for the first time. Drawing on her extensive experience in fintech, business developmet and project management within impact-driven organisations, she offers a unique perspective on the GOGSFE24 and valuable insights into the current state of the industry. Let’s delve into her assessment of what’s shaping the future of this dynamic field:

The GOGLA Global Off-Grid Solar Forum & Expo 2024 (GOGSFE24) was a truly inspiring journey. We learned, exchanged ideas, made progress, and even found time to celebrate together. Now that we've had a moment to reflect, here are our key takeaways—along with a renewed sense of purpose and the conviction that we're moving in the right direction:

A Transparent View of the Industry's Landscape

GOGSFE24 provided an honest and transparent perspective on the current state of the industry and its needs. Many participants openly voiced concerns about critical challenges, such as securing affordable financing, managing local currency risks, and achieving profitability. While these issues are complex, it was clear that having a realistic perspective is essential. For example, although Paygo has not fully met its profitability expectations (a challenging goal, considering the scale of electrifying an entire continent), it has still delivered significant impact. It would be unfair to label Paygo as a failure; rather, it has partially fulfilled its potential. Now, it's up to all of us to chart a sustainable path forward.

Balancing Optimism with Caution on Portfolio Health

Discussions around portfolio health revealed a mix of optimism and caution. There were strong calls to adopt more rigorous KPI monitoring, enhance credit scoring processes, and prioritise the quality of performance data. While these ideas aren't new, we are convinced that shifting the focus from assets to cash flow will accelerate progress in this area. When portfolio performance data is positioned at the core of investment decisions and capital cost calculations, it creates a powerful incentive for companies to maintain healthy portfolio metrics.

The Financing Imperative: Innovative Solutions Needed

And then there’s the matter of financing. Whether you call it alternative, innovative, or game-changing, the need for creativity in capital allocation was a recurring theme. We were pleased to see this topic take center stage throughout the event and were encouraged by the strong interest in Bridgin's approach. Receivables financing, in particular, received a well-deserved spotlight, which is a cause for excitement for us. Success stories like d.light's highlight what’s possible, but such solutions often focus on large players. We were glad to see broad advocacy for financial aggregation, which aims to make these financing mechanisms accessible to smaller businesses as well. At Bridgin, we are committed to delivering the technical and legal infrastructure necessary to make this vision a reality.

Collaboration is Key: The Role of Public and Private Players

A central theme of my panel discussion on transformative investment was the need for collaboration. No single entity can solve the financing challenges alone. We need multiple private investors and stakeholders to come together, each offering complementary solutions and diverse perspectives. Investment in this space is inherently "coopetitive," blending cooperation with competition. However, one thing remains clear: public funding and support are crucial. Development Finance Institutions (DFIs) and governments must play a central role—whether through subsidies, de-risking investments, or implementing supportive fiscal and policy frameworks. Their engagement is what will ultimately attract commercial investors, as the task of expanding access to energy is too complex and costly to be left to private capital alone.

An Inspiring Debut at GOGSFE

As a first-time attendee of GOGSFE, I was truly impressed by the energy, ingenuity, and unwavering commitment to impact from all participants. Charging my phone at the BioLite stand and enjoying fresh drinks from Koolboks were just small examples of the innovative spirit that defines this industry. This is a community filled with passion, creativity and a drive that is absolutely worth celebrating.

Looking Ahead...

There is much more we could share, but we'll leave it here for now. However, we encourage you to stay tuned—we have some exciting announcements coming up in the next few weeks. This is just the beginning!

Finally, a heartfelt thank you to all the partners we met in Nairobi—both long-time friends and new connections. We are excited to work together to help bridge the capital gap in this dynamic and vibrant industry.

Manon Dubois Fintech Business Lead at Bridgin

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About Bridgin

Bridgin is Solaris Offgrid's Receivable Financing Solution. Conceived as an online trading platform for accounts receivables, it allows distributors of essential services to unlock liquidity over assets through the sale of their outstanding invoices to investors, offering investors a unique chance to tap into a previously untapped asset class at a lower risk.