Financialization underpins solar electrification across Africa, transforming access to light into a mechanism of insertion and depletion. Households become embedded in debt circuits through pay-as-you-go systems, local suppliers, indigenous financial institutions, and peer lenders. These intermediaries convert trust, labor, and social reciprocity into collateral, binding everyday life to global finance. Drawing on ethnographic material, the chapter reveals how flexible repayment models translate empowerment into dependence, as families juggle food budgets, social reputation, and energy payments to avoid darkness. At a global level, micro-payments are securitized, generating returns for distant investors while transferring risks and costs to marginalized users. Solar finance operates as an apparatus that monetizes everyday survival, where kilowatts become data, data become collateral, and collateral becomes securities—anchoring the circuits of green capitalism in the depletion of households and communities.

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Solar Finance and Everyday Extraction

  • Nathanael Ojong

摘要

Financialization underpins solar electrification across Africa, transforming access to light into a mechanism of insertion and depletion. Households become embedded in debt circuits through pay-as-you-go systems, local suppliers, indigenous financial institutions, and peer lenders. These intermediaries convert trust, labor, and social reciprocity into collateral, binding everyday life to global finance. Drawing on ethnographic material, the chapter reveals how flexible repayment models translate empowerment into dependence, as families juggle food budgets, social reputation, and energy payments to avoid darkness. At a global level, micro-payments are securitized, generating returns for distant investors while transferring risks and costs to marginalized users. Solar finance operates as an apparatus that monetizes everyday survival, where kilowatts become data, data become collateral, and collateral becomes securities—anchoring the circuits of green capitalism in the depletion of households and communities.