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funding gap emerging markets
Kenya

Solar Home Systems 62

  • BNF
  • Invest in a Financial Institution
  • + 204 other investors
  • With a loan of EUR 61,850 Susan and 106 villagers will be able to buy solar home systems and install the panels on the roofs of their houses.

    €61,850
    Amount
    4.25%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€61,850
    Interest4.25%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 7 hours on 20 July 2020.

      Summary

      Warning

      In the coming period there are different conditions for this partner. More information can be found here.

      • The interest rate has been temporarily increased by 0,75 percentage point to accommodate the growing uncertainty associated with COVID-19.
      • In addition, this investee is allowed - provided they continue to comply with the applicable covenants - to refinance future repayments to Lendahand investors with the funds raised from this project.
      • Repayments occur after 12 months, not after 6 months (grace period).

      Information document issuing company (NL)

      Susan a young married mother of three school going children, is not left behind. She runs a petty grocery shop in the community selling food items. She makes daily income of USD 5 and her dedication has enabled the family to construct a 3 roomed permanent house.

      New normal in education sector is online study for school going children. There are many school curriculum programmes on the TV aired daily for children to close in lost physical contact learning time in Schools.

      Susan installed Home Solar lighting that replaced use of kerosene in 2018. She is now ready to purchase a 24inch TV that comes with 3000mAh battery and 35W panel mainly for schooling purposes and entertainment. This costs USD 639 with daily repayment of USD 1

      With her current income, she is able to service the loan and stock her shop.

      The children are excited to join others in the digital classroom via TV. Solar has revived `school’ for them.

      Company nameSolar Home Systems 62
      CEOSusan Ndalila
      Founded2020-07-15
      LocationNairobi
      SectorSustainable energy projects
      Turnover€0
      Employees106

      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 2 jobs are created
      • With this investment 530 lives are improved
      • With this investment 106 solar home systems are installed
      • With this investment 33 tons of CO2 are reduced

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      We have already contributed to Solar Home Systems 62

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      Albert Stoter
      PHUYS Huys
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      Bianca de Bree
      + and another
      204
      investors