DESCRIPTION OF APPLICANT:
Kiima Foods is a farmer-registered organization with an objective of improving the livelihood of the rural poor women, men, children (1200 Households) through increased access and usage of clean energy.
PURPOSE OF THE LOAN:
The loan applied for will be used to increase the working capital for the solar lighting and phone-charging project that is benefiting the rural women, men and children. The loan is intended to be used to procure 400 solar systems at once. Through this bulk purchase, the business will access a price discount and increase the business returns.
BENEFIT FROM THE LOAN:
The business currently is not serving the active poor class of people in the project area, because the active poor who are seasonal crop farmers fail to raise ready cash for 100% purchase of the solar systems. The loan is planned to extend to the active poor people a loan system that will enable them to access solar systems and pay gradually over 12 months. These end users/loan beneficiaries are cultivators of Arabic coffee with acreage of 0.5 to 1 acre per house hold and their crop harvest is done two times a year. They are wiling to pay for the solar systems, but are only confronted with situations when they do not have ready cash.
THE BENEFIT OF WORKING WITH BARE FOOT POWER:
For the period we have been in business with Barefoot Power, it is a company that is transparent in their operations. They supply genuine products and their staff has good customer relations in addition to providing product guarantee and after sale services.
THE FAVOURABLE PART OF WORKING WITH BAREFOOT POWER:
Their products are genuine and they provide after sale service like training the end users
BENEFIT FROM USING SOLAR SYSTEMS:
Saving the environment from all sorts of pollution and saving on household costs.
COMMUNITY IMPACT OF KIIMA FOODS ON SELLING BARE FOOT POWER PRODUCTS:
The community has realized the importance of using solar products through saving household costs on paraffin and phone charging and the saved money has been re-invested in household assets. Communities have realized a reduction in the amount of pollution at the household level.
DREAM OF KIIMA FOODS:
It is our wish to sell 400 units within one year and use the funds to buy at least 1,200 units within the second year after the loan period. Kiima Foods will gradually increase their purchasing capacity per annum and reach many more low income household to access and use solar products from Bare Foot Power. We would like to reach every home to use solar lighting system, children reading using clean light and traditional birth attendants in the rural areas accessing clean light as they assist women to deliver in such difficult situations.
Because Barefoot Power’s core business is not microfinance, there is some level of additional risk for lenders. Kiva’s partnership with the company is unique and unprecedented. For this reason, Kiva has not assigned the organization a risk rating.
Barefoot Power is a for-profit social enterprise dedicated to bringing solar lighting solutions to remote, low-income regions. The company offers Kiva-funded loans to its distributors and retailers to buy supplies, open stores, and sell high-quality, affordable lighting products to consumers in underserved communities. Access to renewable lighting reduces use of pricey, dangerous kerosene, and significantly improves household productivity and income potential.