George Ngari is a hardworking man and a father of five. He lives in the same compound as his five children and helps to care for them. He lives in the Kiambu district in central Kenya where he operates a small electronics shop in Juja town and also runs an M-Pesa business. The two businesses enable him to earn approximately $210 US per month which he uses towards his family's expenses. He recently happened to visit Visionary Empowerment Programme and was introduced to the available solar lamps and their advantages. He has opted to change his business from electronics to solar lamps, and believes this will double his profits since his customers have been frequently complaining of high electricity bills and occasional power shortages.
VEP advanced this loan to George so he could purchase ten PowaPack 5w home devices, each of which can be used to light four rooms, power a radio and also charge a mobile phone. With this solar package, his customers will be able to save on their monthly electricity bills. Those without electricity can replace their kerosene lamps with cleaner solar lamps which are less costly than installing electricity. By selling these lamps, he expects to make profits of around $23 per lamp. Combined with the income from his M-Pesa business, this will put him in a position to repay the loan in 12 months and also reinvest some money into his business for expansion.
More information about this loan
About Visionary Empowerment Programme
Visionary Empowerment Programme (VEP) is a nonprofit organization that empowers people to build their own enterprises through microfinance, training and other development services. In addition to providing loans to groups of borrowers, it works with established organizations to encourage installation of biogas digesters, solar energy products, clean cooking stoves and other technologies that reduce costs, poverty and greenhouse gas emissions.