The partnership between Michel and Nafa Naana began in October 2013 when a Nafa Naana sponsor suggested the sale of energy products like improved stoves, gas stoves, and solar lamps. Being environmentally-conscious, after receiving some operational training from Nafa Naana, Michel decided to purchase 13 improved stoves, 3 gas stoves, and 12 solar lamps, which he would sell in his hardware store located in the Tengandogo neighborhood of the city of Ouagadougou, the capital of Burkina Faso.
As a result, Michel is faced with the financial issue of not being able to pay the bill of 265,150 francs CFA. Nevertheless, the profits generated by this business will allow him to provide for the expenses of his family, namely his wife and child.
The customers in Michel's neighborhood will benefit from this business by decreasing their consumption of firewood from using improved stoves and gas stoves. They will additionally have the ability to light their homes thanks to the use of solar lamps instead of hurricane lamps or battery-powered lamps which a worse for the environment.
Les clients de son quartier et environnent bénéficieront de cette activité suite la diminution de la consommation en bois de chauffe dûe à l’utilisation des foyers améliorés et foyers à gaz. Ils auront en plus la possibilité d’éclairer leur maison grâce à l’utilisation des lampes solaires au détriment des lampes tempêtes ou lampes à piles qui sont des polluants de l’environnement.
More information about this loan
This loan will help EdM provide energy-efficient wood or coal-burning stoves and gas stoves to retailers. EdM uses loaned funds to purchase stoves from local producers, then supplies the stoves to retailers on credit. Retailers, who typically own pre-existing small businesses and wish to add stoves to their inventories, are responsible for repaying the cost of the stoves to EdM in installments over the course of the loan term. These stoves help end users reduce their fuel expenses and avoid health complications caused by cooking over open fires. Since EdM pays the cost of transporting stoves from producers to retailers, and provides marketing support in the form of promotional posters and awareness-raising events, the organization adds a margin of between 4 and 7.5% to the cost the retailers pay for the stoves in order to make the project self-sufficient.
About Entrepreneurs du Monde (EdM)Kiva provides an important source of flexible, risk-tolerant working capital for social businesses in EDM’s network so that they can import and stock clean energy products to meet customer demand and positively impact health and the environment in impoverished communities around the world.
About Burkina Faso
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Success!! The loan was 100% repaid