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Sollatek Electronics Kenya 6

  • Sollatek
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  • With a loan of EUR 75,000 Sollatek can provide 6.818 solar lanterns to households and companies in Kenya.

    €75,000
    Importe
    5.50%
    Interés
    24 meses
    Vencimiento
    6 meses
    Reembolsos
    EUR
    Moneda
    Importe€75,000
    Interés5.50%
    Vencimiento24 meses
    Reembolsos6 meses
    MonedaEUR
      100%
      Completamente financiado en 17 díasen 29 Enero 2018.

      El proyecto

      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: 75,000
      Maturity: 24 months, semi-annually and linearly amortizing 
      Collateral: N.A.
      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. 


      Documentation

      Information document issuer (download here)
      InRisc: credit analysis write up (download here)
      Sollatek Business Presentation (download here)


      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

      With this loan Sollatek will be able to provide 6,818 portable solar lanterns to households and businesses in Kenya. This will contribute greatly to energy security, health, education and economic opportunities for under-served rural off-grid populations in Kenya. 

      Sollatek works with three innovative solar manufactures to bring in a range of high quality and affordable solar products that match all the different needs and usages of the Kenyan population. 

      Impact

      Direct benefits of the loan:  

      • 6.818 homes and business with access to clean, affordable and reliable energy 
      • Estimated 34,000 individuals who will benefit from the use of solar energy products from lanterns to tailor-made solar systems  
      • 6,600 tonnes of CO2 Emission removed from the atmosphere as people switch from kerosene lanterns to solar 

      Indirect benefits of the loan: 

      • Improved performance at school as children have reliable lights for schoolwork at homes
      • Health benefits as kerosene lanterns are removed from indoors which fumes cause respiratory illnesses 
      • Increase incomes as both homes and business do not have to pay for electricity or phone charging 
      • Increase security for homes and night time activities 


      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 

      Nombre de la empresaSollatek
      Director generalSaleem Abdulla
      Fundado1985-01-01
      UbicaciónMombasa
      SectorProyectos de energía sostenible
      Volumen de negocio€3,500,000
      Empleados54
      Calificación de crédito2.44

      Impacto

      El acceso a la electricidad sigue siendo difícil para casi 30 millones de kenianos que viven en áreas rurales. No es raro que las personas caminen cinco kilómetros de vez en cuando para hacer algo tan simple como cargar un teléfono celular. Sollatek suministra una amplia gama de soluciones de energía solar para garantizar un acceso fiable a la energía para empresas y hogares. Como la energía solar es más barata y más confiable que la red eléctrica, las actividades de Sollatek cambian la vida de las poblaciones rurales. Desde 2009, sus linternas solares portátiles y sistemas solares domésticos han brindado acceso a energía limpia y renovable a más de 3,5 millones de personas en África Oriental.

      Los hogares con acceso a electricidad limpia y asequible ya no dependen de combustibles nocivos y peligrosos para la salud como el queroseno para encender las linternas. Permite un aumento de los ingresos, ya que la energía tanto para los hogares como para las empresas se vuelve gratuita con el tiempo. A medida que las luces confiables aumentan la seguridad por la noche y permiten que los niños estudien por más tiempo para mejorar sus resultados en la escuela, mejora significativamente los medios de vida rurales.

      ODS impactados

      Con este proyecto estás contribuyendo a los siguientes Objetivos de Desarrollo Sostenible:

      ODS 1. Fin de la pobreza

      ODS 7. Energía asequible y limpia

      ODS 13. Acción climática Para saber más acerca del impacto que puedes generar en su plataforma y para aprender más sobre los ODS, consulta nuestra página de impacto.

      • Con esta inversión se crean 5 puestos de trabajo
      • Con esta inversión se mejoran 34000 vidas
      • Con esta inversión se instalan 6800 sistemas solares domésticos
      • Con esta inversión se reducen 6600 toneladas de CO2

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