July 13, 2024

Oredola Adeola

All On Energy, an impact investing company in Nigeria’s renewable energy space, has appointed Mrs. Caroline Eboumbou as the new Chief Executive Officer of All On, following the exit of Dr. Wiebe Boer, its pioneer Chief Executive Officer (CEO), early July,

The was contained in a statement  released by the All On Board of Directors, announcing the appointment  after a broad search and rigorous interview process and obtained by EnergyDay on Wednesday.

All On is a leading impact investing company in the Nigerian renewable energy industry, seeded with funding from Shell Petroleum Development Company of Nigeria (SPDC).The firm has been working with partners to increase access to commercial energy products and services for unserved and underserved off-grid energy markets in Nigeria, with a special focus on the Niger Delta.

The Fund invests in off-grid energy solutions spanning solar, wind, hydro, biomass and gas technologies deployed by both foreign and local access-to-energy companies that complement available grid power across Nigeria and help bridge its significant energy gap.

According to the Board, Caroline Eboumbou, a determined pan-Africanist,  is passionate about private sector and economic development, to which she has dedicated her career.

Until now, EnergyDay confirmed that  Afolabi Akinrogunde, the company’s Investment Manager, has been standing in as the company’s Ag. CEO, pending the official confirmation of Caroline by  the BoD.

The Board further confirmed that Caroline is expected to resume work on September 1, 2022, after will relocating to Lagos  from her base in Kenya.

Mr. Osagie Okunbor, All On Board Chairman, who doubles as Managing Director, Shell Petroleum Development Company of Nigeria Ltd (SPDC), in his remark said, “We are thrilled to continue working even more closely with Caroline and confident that her wealth of experience and skills will be an asset to All On.”

Acknowledging her appointment, Caroline described All On as a company that has demonstrated its commitment and efficiency as a true agent of change by supporting those delivering services in under-served and un-served off-grid energy markets in Nigeria.

She said, “I look forward to working with the All On team, Board, investees and the wider off-grid energy sector to support and develop a dynamic and robust eco-system in Nigeria and beyond for the years to come.”

EnergyDay gathered that Caroline joined the firm from The Rockefeller Foundation, where she had served as an Investment Director, having also worked with the Rockefeller Foundation-funded All On Hub.

Caroline joined The Rockefeller Foundation in 2018 as a Director based in Nairobi, Kenya. In that capacity, her role focused on driving large-scale impact through the Foundation’s Power investments in Africa, as well as on mobilizing significant financing for extending electricity access globally.

With over 600 million Africans unserved by traditional grid infrastructure, she oversaw an innovative portfolio of grants and investments aimed at realizing the full potential of mini grids, while advancing more effective integrated electrification planning and investment across key markets.

Recently, Caroline was deeply involved in the strategic design and ongoing implementation of the recently launched Global Energy Alliance for People and Planet.

Prior to joining The Rockefeller Foundation, Caroline worked for the African Development Bank in Tunis and Nairobi, and in private equity focusing on construction and long-term equity financing for solar photovoltaic projects in emerging markets.

In these roles, she gained substantial project finance experience and worked on transformative projects to bring electricity to people across Africa. Her project experience spans Francophone and Anglophone countries, and ranges in scope from power generation to transmission projects in both private sector-led and public-private partnerships.