SimGas is a triple bottom line company that designs, produces and installs biogas systems for smallholder farmers in East-Africa. SimGas has facilities in Kenya (est. 2013, 60 employees), Tanzania (est. 2011, 20 employees) and The Netherlands (est. 2009, 12 employees). The biogas systems enable rural households with livestock to use the manure from their livestock to generate clean fuel for cooking and organic fertiliser: two valuable assets to increase income whilst saving life, nature, money and time. The high quality, modular, domestic biogas systems can be installed in 2 days. To date, SimGas has provided 1,500 farmers with their biogas systems.
Update November 2018: SimGas was not able to attract (new) investors lately. This resulted into SimGas deciding to slim down the organization by ceasing its activities in The Netherlands and Tanzania and to focus all their attention on their core activity: bio-digesters in Kenya. Simultaneously, SimGas is having talks with interested parties. All options are still on the table (new funding, cooperation, buyout, restructuring, bankruptcy). It is clear, by all means, that SimGas won’t be able to meet its repayment obligations. Naturally, no new SimGas projects will be offered on the website.
|Borrower||Simgas Kenya Ltd.|
|Head office||Den Haag|
|Founded||4 February 2013|
|Active on Lendahand since||29 November 2016|
Financial information per 2018-02-21
|Revenue (per year)||€224,842|
|Equity / total assets||10.20%|
Kenya has the highest income per capita and the largest economy of East Africa, making the country the financial center of the region. This is partly due to its convenient location at the coast, allowing the country to be the regional trade center. Kenyans are typically higher educated compared to people in neighboring countries. There is a free market and low import and export restrictions. All of these factors lead to Kenya being the main location for foreign companies to settle in after South Africa. Important sectors are agriculture, industry and services, including the financial sector. The increase in export of tea and flowers also contributes to an influx of foreign currency.