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Partner Description:

Fenix International is a for-profit social enterprise that designs, manufactures and sells affordable electricity generation and energy storage solutions for off-grid use in developing countries.Their flagship product isthe ReadySet device: a small, portable energy system that can power lights, radios, mobile phones, and even medical applications.  By designing innovative, affordable products, Fenix aims to enable entrepreneurs to sell life-changing and sustainable energy to their communities.

The ReadySet helps Fenix achieve its primary goal of providing a flexible solution to energy poverty, particularly in Africa. Not only does it offer a power generation and storage option, it also allows customers to generate additional income by charging others’ mobile phones or allowing ReadySet owners to work longer hours at night.  By powering mobile phones, as well as rechargeable lanterns and torches, for a small fee (typically USD 0.25-0.50), ReadySet owners can generate substantial new income.

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Field studies in collaboration with the Grameen Foundation have shown the cost of the $150 system can be earned back in as little as 3 months and continue to produce profits for the entrepreneur with zero maintenance. Access to local, sustainable electricity increases access to information via mobile communications, mobile banking and also offers clean lighting options to replace dirty, dangerous and costly kerosene lighting.

Fenix has developed 2 products that will be funded on Kiva which allow them to increase their distribution and sales of ReadySet devices:

1) Loans to SAACOs (Savings and Credit Cooperatives), for the upfront, bulk purchase of Readyset devices.

2) Loans to companies in order for their employees to purchase Readyset devices.

Both loan products allow Fenix to expand its distribution and experiment with new ways of getting light and electricity in the hands of those that need it. Fenix’s overarching goal is to reduce energy poverty. Its approach with ReadySet helps customers leapfrog existing infrastructure, generate clean power and earn new income.

With 600 million off-the-grid phone subscribers currently paying for charging, there’s a pressing need for affordable, environmentally-friendly solutions. Further, today, 1.5 billion people around the world lack electricity. Kerosene has become the standard for lighting and heating, but is problematic for economic, environmental and health reasons. Every year, millions of people -- mostly women and girls -- suffer from kerosene-related respiratory problems and burns. And its expensive, often consuming up to 30% of household expenses for low-income families. Charging technology like ReadySet could help replace kerosene with battery-powered lanterns.

To tap the East African market, Fenix has already had initial success testing its product in the field. Through a partnership with Grameen AppLab, an organization that delivers digital products and services via smartphones to rural communities, they have deployed over 500 units across rural Uganda for use as phone charging stations. Initial feedback from the field has been very positive, and the ReadySet has proven to be a clean, cheap alternative to using car batteries for power generation and storage.


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Aug 1, 2013 Oct 12, 2005
Total Loans $9,075 $618,397,075
Amount of raised Inactive loans $0 $415,225
Number of raised Inactive loans 0 685
Amount of Paying Back Loans $0 $123,761,500
Number of Paying Back Loans 0 133,890
Amount of Ended Loans $9,075 $494,220,350
Number of Ended Loans 2 624,178
Delinquency Rate 0.00% 4.17%
Amount in Arrears $0 $3,360,838
Outstanding Portfolio $0 $80,575,697
Number of loanDelinquent 0 15,696
Default Rate 0.00% 1.10%
Amount of Ended Loans Defaulted $0 $5,443,130
Amount of Ended Loans $9,075 $494,220,350
Number of Ended Loans Defaulted 0 16,936
Currency Exchange Loss Rate 0.00% 0.10%
Amount of Currency Exchange Loss $0 $614,667
Refund Rate 0.00% 0.74%
Amount of Refunded Loans $0 $4,568,100
Number of Refunded Loans 0 5,106

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 50.00% 74.24%
Average Loan Size $4,538 $419
Average Individual Loan Size $4,538 $655
Average Group Loan Size $0 $1,835
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $1,500 $3,414
Average Loan Size / GDP per capita (PPP) 302.50% 12.27%
Average Time to Fund a Loan 1.29 days 5.76 days
Average Dollars Raised Per Day Per Loan $3,517.38 $72.68
  Average Loan Term 12 months 10.47 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 308,975
  Journaling Rate 0.00% 42.30%
  Average Number of Comments Per Journal 0.00 0.07
  Average Number of Recommendations Per Journal 0.00 1.79

Borrowing Cost Comparison (based on 2011 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 21% APR N/A 33.15% PY
  Profitability (return on assets) N/A N/A -1.29%
  Average Loan Size (% of per capita income) N/A N/A 38.08%

Country Fast Facts

Field Partner Staff

Peter Glenn
Jonathan Green
Lyndsay Holley Handler
Brian Warshawsky