funding gap emerging markets
Kenya

Sollatek Electronics Kenya 15

  • Sollatek
  • Direct investment
  • + 192 other investors
  • With a loan of EUR 100,000 Sollatek can finish the installation of an Automatic Voltage Regulator at Cosmos Pharmaceuticals Ltd.

    €100,000
    Amount
    5.50%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€100,000
    Interest5.50%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 5 days on 13 November 2018.
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      Summary

      IMPORTANT NOTE: high risk product - direct loan to solar power product distribution company. No local partner in between to cover risks.

      Basic info:

      Issuer: Sollatek Electronics Kenya Ltd. 
      Currency:  EUR 
      Amount: 100,000
      Maturity: 24 months, semi-annually and linearly amortizing 
      Interest rate: 5.5% p.a. 


      Direct loan

      This is a direct loan to a company (rather than lending to a financial institution) and therefore it is recommendable that you are careful with the amount you will invest. 

      Company Background

      Sollatek Electronics Kenya Ltd is an East African leader in supplying clean reliable on and off grid energy solutions. We have been in operation since 1985 as the sole authorised agent for Sollatek products and the owner of the Sollatek franchise in East Africa. Our Head Office is in Mombasa, Kenya and sales office in Nairobi, Kenya. We operate as a wholesale and last mile distribution outfit, selling our products through a region-wide network of distributors, hardware, electronic shops, supermarkets, NGO and Co-operatives. We provide installation services, comprehensive after sales care and hassle free warranty services on all our products.

      Our on-grid division supplies and installs voltage protection range includes voltage switchers, stabilisers, and uninterruptible power supplies (UPS).  These devices assist businesses from small to large avoid losses, monetary and efficiency, due to unreliable power by keep their businesses, homes, and lives working uninterrupted.

      The Sollatek Solar Division supplies complete turnkey solar systems and ancillary equipment including solar energy systems, solar modules, charge controllers, batteries, solar home systems and portable lanterns. We offer a wide range of affordable and quality product to cater to all the different financial capabilities of end users in Kenya.

      As a Company we believe in access to affordable clean energy for all. Currently only 12.6% of Kenya’s rural population is connected to grid power. For the estimated 30 million people without a connection, solar energy is one of the most reliable and cost effective solutions. Beyond lack of access to grid power, 49% of the rural populations live at the poverty line as defined by the World Bank, which means they have limited or no disposable income for managing the high upfront costs of some solar solutions.

      Since 2009, we have sold over 700,000 portable solar lanterns and solar home systems in East Africa. Through this more than 3.5 million people have gained access to clear renewable energy as a result of Sollatek’s activities. We continue to strive to provide clean and reliable energy for all.      

      In recent years, Sollatek has won two grants pursing the goal of universal energy access, the USADF Power Africa Off-Grid Challenge for Sollatek Solar Centers. We installed 15 income generating solar centers to run cold storage facilities and lighting for fishing coops along the Kenyan Coast. This project was a finalist in the African Innovation Awards. In 2015, SEKL was awarded a grant from Energy and Environment Partnership (EEP) for setting up an solar entrepreneur network across Kenya to encourage last mile sales and distribution of portable solar lanterns and solar home systems.    


      The Project (part 2)

      Sollatek will be installing an iVolt – a Sollatek AVR (Automatic Voltage Regulator) conceived of 25 years experience in Power Control and Protection Industry, whose main role is to regulate and filter the voltage supply ensuring the IVOLT output is stable and clean 220V. This will deliver a voltage reduction of up to 12% whenever possible which guarantees energy saving. 

      In this note we will be installing an IVOLT 3 x 1500 to Cosmos Pharmaceuticals Ltd started in 1978 with the sole aim of manufacturing quality medicines at an affordable price for Kenyans.

      Cosmos Pharmaceuticals believes quality is of paramount importance and there is only 1 quality when it comes to medicines. Adhering to strict Good Manufacturing Practices we are able to achieve this through both public and private partnerships. With over two hundred registered products, Cosmos’s aim was to increase the quality of life, convenience and compliance for the people.

      Cosmos is now a 3rd generation family business of technocrats that has grown to have a presence in 9 Sub Saharan African countries and employ 500+ people. Their aim is to gain international recognition as East Africa’s leading Manufacturer, through offering the latest treatments at affordable prices. http://cosmos-pharm.com/

      This IVOLT will provide them with between 7-10% annual energy savings at their factory while also protecting their equipment from damaging power fluctuations. This protection in turn will extend the life of their machines and also reduce downtime at the factory providing them with hard to measure long-term savings.  


      Mission & Vision

      To be the East African leader in voltage protection, renewable energy and energy saving industries with a primary focus on offering high quality, affordable, and innovative products and services to all our customers. 

      Building on our over 30 years of experience working in East Africa as a wholesale and distribution company for power control & solar energy, we diversified into specialised solar projects, portable solar lanterns and home systems and innovative industrial power optimisation systems.


      Management Team 

      Mr. Chris R. Soper – Chairman       
      Chris is a Chartered Shipbroker and a successful entrepreneur with over 40 years experience of running businesses in Kenya. Chris started in shipping but a chance meeting with Manhal Allos, Managing Director of Sollatek UK Limited, led to him starting up Sollatek Kenya in 1986 to sell voltage protection devices. In 1992, Chris became one of the first people in Kenya to explore business opportunities in renewable energy. Sollatek Kenya has since that time become a leading player in the solar industry.

      Mohamed Saleem N. Abdulla—Managing Director 
      Saleem is a certified accountant with over 25 years of accounting and management experience and over 20 years working with Sollatek.  Born and educated in Mombasa, he began his career at United Touring Company in Nairobi as the Group Credit Controlled. After 3 year with UTC, Saleem moved back to Mombasa to join Sollatek as the Accountant. Saleem has risen steadily through the ranks of the Company and was promoted to take over from Chris Soper as the Managing Director in 2007. Under his stewardship, Sollatek has doubled its turnover in the past 5 years.

      Shemina S. Khodabaksh—Commercial Manager     
      Shemina is a career administrator with over 20 years work experience in large commercial enterprise. Shemina started with The Aga Khan Hospital where she worked for over 15 years in various positions. She joined Sollatek in 2006. Shemina has been responsible for setting up and effective office management infrastructure, which has been invaluable for Sollatek, as the Company has grown rapidly in the recent years. She also spearheaded the Corporate Social Responsibility program for the past 5 years, and has been credited with many successful charitable activities organized by Sollatek.

      Natalie Balck – Head of Projects and Partnerships 
      Natalie was educated in the States and England holding a BA in psychology and MA in International Development. She has worked in Washington DC, England and Kenya in marketing, campaigns and with NGOs. For the last 7 years, she has been working with Sollatek Electronics Kenya Ltd, developing their region wide marketing strategy, fundraising and solar project implementation. She successfully managed the USADF Power Africa Solar Run Freezers for Fisherman project as well as EEP Sollatek Direct: Solar Entrepreneurs in Kenya.  

      Samwel O. Odhiambo – Sales and Distribution Manager 
      Sam was born and educated in Nairobi. After graduating with a Bachelor of Commerce degree from University of Nairobi in 1999, Sam joined Kenya Credit Traders Limited, a credit/HP firm as a Sales Executive. His strong work ethic and exceptional selling skills saw him promoted to be the Manager of the Company’s shop in Eldoret. Sam left KCTL to join Delmer, an electronic weighing and Telecommunications Company in 2001. He worked for Delmer for 6 years and had a short stint at Kenital Solar before joining Sollatek in April 2008. A brilliant salesman and an excellent administrator, Sam has not only played a key role in firmly establishing Sollatek in Kenya but also in expanding the business regionally into Uganda, Rwanda and Burundi.

      Website

      http://sollatek.co.ke/

      Track Record of Awards 

      2016 - Finalist in the Africa Innovation Awards in South Africa 

      2015  - SEKL was named one of Kenya’s Top 100 Mid-Size companies in East Africa by KPMG Kenya. 

      2015 - Awarded a grant from Energy and Environment Partnership (EEP) for setting up an solar entrepreneur network across Kenya 

      2015 - Mazingira Award in Category of Green Energy Solution 

      2014 - Winner of the USADF Power Africa Off-Grid Challenge of 100,000 USD for Sollatek Solar Centers. 

      2014 - Winner of Energy, Solar and Lighting, Kenya Homes Expo 

      2013  - SEKL was named one of Kenya’s Top 100 Mid-Size companies in East Africa by KPMG Kenya.


      Previous Project 

      USADF Power Africa Off-Grid Challenge

      Energy and Environment Partnership (EEP) 

      World Food Program Office in Isiolo, Kenya 

      Company nameSollatek Electronics Kenya 15
      CEOSaleem Abdulla
      Founded1985-01-01
      LocationMombasa
      SectorSustainable energy projects
      Turnover€3,500,000
      Employees54

      Impact

      Access to electricity remains elusive for nearly 30 million Kenyans living in rural areas. It’s not uncommon for people to walk five kilometers at times to do something as simple as charging a cell phone. Sollatek supplies a whole range of solar energy solutions to ensure reliable energy access for businesses and homes. As solar power is cheaper and more reliable than grid power, Sollatek’s activities are life-changing for rural populations. Since 2009, their portable solar lanterns and solar home systems have brought access to clean, renewable energy to more than 3.5 million people in East Africa.

      Homes with access to clean and affordable electricity no longer rely on harmful and health-threatening fuels like kerosene to light lanterns. It enables an increase in income, as the energy for both homes and businesses becomes free of charge with time. As reliable lights increase security at night and allow children to study longer to improve their results at school, it significantly enhances rural livelihoods.

       

      SDG’s impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No Poverty

      SDG 7. Affordable and clean energy

      SDG 13. Climate action

      Read more about the impact you can make through our platform and the SDGs on our impact page.

       

      Related blog articles

      Eager to learn more about clean energy projects on our platform? Read here. 

      During the 2020 Covid-19 pandemic, the demand for solar home systems increased significantly in emerging markets. Read more here.

      • With this investment 3 jobs are created
      • With this investment 15 lives are improved

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