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funding gap emerging markets
Kenya

Solar Home Systems 51

  • BNF
  • Invest in microfinance
  • + 53 other investors
  • With a loan of EUR 21,350 BnF will be able to install 200 solar home systems in houses in Madenyo Village, Kenya.

    €21,350
    Amount
    3.50%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€21,350
    Interest3.50%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 44 minutes on 24 October 2019.

      The project

      Synonymous with rural life, 60% of Busia County inhabitants rely on kerosene as the main source of lighting. Madenyo Village, home to Emily Obinda, is one of the densely populated villages with a bee hive of small-scale economic activities but still reliant on firewood and kerosene for heating and lighting. The price of kerosene is higher than in the capital City – Nairobi by 30% due to long transportation.

      Despite easily available small-scale business opportunities, Emily’s purchasing power is still low. With school going children, combined household income from her husband’s driving employment is barely enough. The family spends USD 5 per week for paraffin which is unsustainable in the long run as family basic needs keep increasing.

      Emily believes that by saving USD 5 per week, having clean lighting for the family and children studying in the night safely is a big leap. This can be achieved by installing an affordable solar home lighting package comprising 3 bulbs, a solar panel, battery, radio and a phone charger all going for USD 117. It will take her 10 months to fully repay the loan which gives her freedom to build small savings after paying off the loan. She shall also hire someone to oversee phone charging arm of revenue stream for the family.

      In her world, this is transformation that is made possible by tapping from unending Solar energy. It is also an asset building mechanism; owning a radio and other solar accessories is no mean achievement for her family.

      Company nameBNF
      CEOEmily Obinda
      Founded2019-10-22
      LocationNairobi
      SectorSustainable energy projects
      Turnover€0
      Employees200

      Impact

      BnF focuses on sustainable energy projects in rural Kenya, offering households a 12-month payment plan to purchase a solar home system. The system enables clients to generate sufficient energy to power many basic necessities such as lights, radios, televisions, and other essential appliances. Solar home systems reduce reliance on polluting and health-threatening fuels such as kerosene, firewood, and coal for families' lighting and cooking needs. 

      Electricity opens new economic opportunities for families, enabling household incomes to grow progressively. It provides access to information and entertainment, allowing the children to spend time studying in the evenings and empowering women to engage more in household and local-level decision-making. It stands to reason that entire rural communities' livelihoods benefit from access to clean energy as their productivity, efficiency, and health prospers.

       

      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.

      • With this investment 5 jobs are created
      • With this investment 1000 lives are improved
      • With this investment 200 solar home systems are installed
      • With this investment 63 tons of CO2 are reduced

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      We have already contributed to Solar Home Systems 51

      Danny Honig
      Dirk Rentmeester
      Han de Haas
      Marc Sierink
      Carola Bieniek
      + and another
      53
      investors