Momas Electricity Meter Manufacturing Company

What Momas Electricity Meter Manufacturing Company does

Momas Electricity Meter Manufacturing Company Limited (MEMMCOL), founded in 1999 in Nigeria, is an indigenous manufacturer of electricity meters and related power-sector infrastructure. Its core products are STS-certified prepayment smart meters spanning single-phase, three-phase, and maximum-demand variants, as well as wireless meter solutions, supplemented by a proprietary Substation Enhancement Panel product that modernizes dilapidated fuse-driven substations and by Utility Software solutions tailored for utilities and tertiary institutions. The company also operates the MomasPay mobile payment application, available on Google Play and the Apple App Store, which lets end users recharge prepaid STS meters and view transaction history; MomasPay charges a 1.0% transaction fee per top-up on top of a 1.5% payment-gateway fee.

MEMMCOL generates revenue through five streams: (1) hardware sales of smart and non-smart meters, (2) professional installation services delivered through its Momas Systems subsidiary, (3) MomasPay transaction fees, (4) sale and installation of Substation Enhancement Panels to DISCOs, and (5) project consultancy and bespoke software development for utility and institutional clients. Its go-to-market is enterprise field sales targeting Nigerian DISCOs, property management firms, real estate developers, factories, hotels, universities, hostels, and markets/malls, complemented by a network of authorized distributors, direct website purchases, and self-serve MomasPay onboarding. Operations are anchored at a manufacturing facility in Mowe, Ogun State (Km 40, Lagos/Ibadan Expressway) with a registered head office in Surulere, Lagos.

The company's customer base includes the Eko Electricity Distribution Company (EKODisCo), the Nigerian Federal Ministry of Power, and the Nigerian Ministry of Power, alongside 512+ completed turnkey projects, 1,120+ meters deployed, and 120+ substation enhancement panels installed across all Nigerian DISCOs. It is privately held with no parent company or external institutional investors disclosed, holds ISO 9001:2015 certification, and is led by Chairman Engr. Moshood Kola Balogun. The Momas Customer Care Centre (CCC) and Momas Systems operate as wholly-owned subsidiaries handling customer support and installation services respectively.

Name

Momas Electricity Meter Manufacturing Company

Legal name

Momas Electricity Meters Manufacturing Company Limited

Website

https://memmcol.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

51–100 employees

Short description

Momas Electricity Meter Manufacturing Company (MEMMCOL), founded in 1999 in Nigeria, is an indigenous manufacturer of STS-certified prepayment smart meters, Substation Enhancement Panels, and utility software. It serves Nigerian DISCOs, government, real estate developers, and commercial and educational institutions across Nigeria.

Ownership category

akta.pro rank

Product category

Smart Electricity Meters

NAICS

Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515), Electrical Equipment Manufacturing (3353), Electric Power Generation, Transmission and Distribution (2211), Relay and Industrial Control Manufacturing (335314)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electrical Industrial Apparatus (3620), Industrial Instruments For Measurement, Display, And Control (3823), Instruments For Meas & Testing Of Electricity & Elec Signals (3825)

akta.pro primary industry

Metering & Grid Measurement (Smart Meters, CT/VT, PQ Meters) (IMAGAAAH)

akta.pro secondary industries

Meter Installation, Exchange & Field Services (EUADAFAF), Meter Data Management Systems (MDMS) (EUADAFAB), Industrial Control Cabinets & Power Distribution (Panels, Switchgear for Automation) (IMAHAHAK), Commercial & Industrial (C&I) Behind-the-Meter Generation (EUACALAA)

Keywords

• Smart electricity meters
• Prepayment metering solutions
• Substation enhancement panels
• Utility management software
• Energy management services

Headquarters

HQ city

Mowe

HQ country

Nigeria

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Meter Sales: Sale of smart and non-smart electricity meters ranging from single phase to three phase, maximum demand meters, and wireless solutions. Products are tried and tested with millions installed worldwide.
2. Installation Services: Professional meter installation services offered through Momas Systems subsidiary, including turnkey projects in the power sector.
3. MomasPay Transaction Fees: Mobile payment application processing fees. MEMMCOL is charged 1.0% transaction fee per payment processed, with additional 1.5% fee from payment gateway provider. Clients receive net payments directly into their bank accounts.
4. Substation Enhancement Panels: Sale and installation of power substation enhancement panels across DISCOs (Distribution Companies).
5. Consultancy Services: Project research consultancy for utility industries and tertiary institutions, including development of customized software applications.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Momas Electricity Meter Manufacturing Company Limited (MEMMCOL) manufactures and supplies smart and non-smart electricity meters (single phase, three phase, and maximum demand meters) along with substation enhancement panels and utility software solutions. The company also provides meter installation services, energy management solutions, and consultancy through its subsidiary Momas Systems.

Product overview

Momas Electricity Meters Manufacturing Company (MEMMCOL) is an indigenous Nigerian electricity meters manufacturing company offering a portfolio of smart metering solutions and related services. The core product line consists of smart meters (single phase, three phase, and Maximum demand meters) with wireless capabilities, complemented by the MomasPay mobile payment application for prepaid STS-certified meters. Additional offerings include Utility Software solutions, the Substation Enhancement Panel hardware product, and professional services spanning meter installation, energy management, and consultancy. The company has deployed over 1,120 meters and 120+ substation enhancement panels across Nigeria's distribution companies (DISCOs).

Differentiator

Problem solved

Functional benefit

Brands

• MomasPay: Mobile payment application designed for prepaid STS-certified electricity meters, allowing customers to recharge electricity units and manage transaction history.

Products and services

• Smart Meters Multi-functional electricity meters including single phase, three phase, maximum demand meters, and wireless solutions, designed for prepayment metering and energy monitoring for DISCOs, real estate, factories, hotels, and universities.
• Utility Softwares

Quantifiable outcome

• 512+ successfully completed projects
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

One partnership is on record.

• Payment Gateway Provider (Third-party)coreTechnology or IntegrationMEMMCOL integrates with third-party payment gateway to facilitate secure revenue collection and automatic remittance to clients' bank accounts for MomasPay transactions. The payment gateway charges 1.5% fee per transaction while MEMMCOL pays 1.0% transaction fee.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• EDMI Limited (Osaki Electric): Singapore-headquartered smart meter manufacturer specializing in prepayment and AMI solutions with strong Asia-Pacific and emerging-market footprint. Comparable on prepayment metering technology.
• Kamstrup A/S: Danish smart metering solutions provider for electricity, heat, water, and gas with growing presence in African markets. Comparable smart metering technology and AMI offerings.
• Holley Technology Ltd: Chinese global smart meter manufacturer with strong presence in African utility markets, producing STS-certified prepayment meters. Comparable on product category (smart prepayment meters) but competes as a low-cost importer rather than indigenous manufacturer.
• Secure Meters (KSE Electricals): Indian-headquartered smart meter manufacturer with international operations producing STS-certified prepayment meters. Comparable product offering for utilities in developing markets.
• Hexing Electrical Co., Ltd. Chinese smart meter manufacturer with global footprint including Africa, offering STS prepayment meters, AMI systems, and utility software. Directly comparable product suite targeting similar emerging-market utilities.

Broad incumbents

• Itron Inc. Global leader in electricity, gas, and water metering with significant African utility deployments. Comparable on smart metering technology and AMI offerings; competes for large-scale DISCO framework contracts.
• Schneider Electric: Global energy management and automation major providing smart metering, grid solutions, and substation equipment through its Energy Management business. Comparable on substation enhancement panels and broader grid infrastructure offerings.
• Landis+Gyr: Global smart metering and grid infrastructure leader with established African operations through partnerships with utilities. Comparable smart meter product line and AMI/grid management capabilities.

Direct peers

• Meter Business Holdings (MBH Power): MBH Power is another indigenous Nigerian meter assembly and distribution company supplying prepayment meters to DISCOs and the Federal Government. Closely comparable as a domestic competitor in the same Nigerian smart meter category.
• Mojec International Limited: Mojec is one of the largest indigenous Nigerian electricity meter manufacturers producing single-phase, three-phase, and smart STS prepayment meters for DISCOs. Directly competes with MEMMCOL for Nigerian electricity distribution tenders.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/Momasmeters
• Facebookfacebook.com/Momasmeters
• LinkedInlinkedin.com/company/memmcol

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Momas Electricity Meter Manufacturing Company