Impact+ Sollatek 2019-2
With a loan of EUR 97,000 Sollatek will be able to support local entrepreneurs in Kenya and provide them with access to clean and reliable energy.
€97,000
5.50%
24 months
6 months
EUR
CurrencyAmount | €97,000 |
Interest | 5.50% |
Maturity | 24 months |
Repayments | 6 months |
Currency | EUR |
The project
Investments via Impact+ are direct investments in financial institutions and/or companies and cannot be related to specific projects.
With a loan of EUR 97,000 Sollatek will be able to support local entrepreneurs in Kenya and provide them with access to clean and reliable energy.
Company name | Sollatek |
CEO | Saleem Abdulla |
Founded | 1985-01-01 |
Location | Mombasa |
Sector | Sustainable energy projects |
Turnover | €3,500,000 |
Employees | 70 |
Credit score | 2.44 |
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.
- With this investment 10 jobs are created
- With this investment 50 lives are improved