Geshom is a promising and motivated entrepreneur. His vision is to start a solar product business and even own a shop to sell products to people in rural areas. Only about 4% of the population in rural Tanzania has access to electricity and the national grid. Therefore, providing solar products has a great impact on people’s lives and may contribute to empower the population in rural areas. For instance, businesses may extend their shop hours, people can offer mobile phone charging stations, or children can study for school after nightfall.
Due to his former occupation as an electrical technician, he has a lot of connections in the energy sector as well as technical knowledge. This will help a great deal when setting up a business.
He is convinced that he can sell 10 products per day! Thus, he is eager to get access to a loan. Among other expenses, this loan will be used to purchase solar inventory, rent a shop space, and buy a motorbike in order to provide after-sales service to the customers.
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These loans will provide start-up capital to entrepreneurs, mainly women, who want to start clean energy businesses. African Solar Rise provides technical and entrepreneurial training on how to start and manage clean energy businesses.
About African Solar RiseAfrican Solar Rise is a nonprofit that helps entrepreneurs start businesses that offer renewable energy products and services. The organization assists in writing the business plan, providing lending capital, accessing high quality products and more.
African Solar Rise also provides savings and loan cooperatives (SAACOs) with income generating loans to purchase solar systems for redistribution amongst their members on a leasing scheme.
Kiva lenders’ funds will help the organization provide poor Tanzanians with affordable loans to start businesses that promote renewable energy, and to help SAACOs earn an income by buying and leasing solar-powered systems to their larger communities.
African Solar Rise joined Kiva through our Experimental Partnership Program, and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner carry a higher level of risk than typical Kiva loans.
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