WANA Solutions is not currently raising funds on the Kiva platform. They have a total outstanding of $30,330.65 owed to Kiva. Kiva and WANA Solutions have reached a repayment restructure agreement with a new repayment plan. WANA will pay Kiva $2K per month until their blalance has been paid off.
Wana Solutions (WANA) is a Ugandan enterprise that distributes Liquified Petroleum Gas (LPG) to rural, peri urban and urban populations across Uganda, replacing harmful biomass energy with clean alternatives. Committed to increasing access to cleaner, safer and more efficient energy, WANA operates 40 outlets across five districts in Uganda, by providing affordable LPG resources to families, businesses and cooperatives.
Today, over 90% of the Ugandan population uses biomass fuels for cooking. This reliance on solid fuels (e.g. charcoal, and firewood) has contributed significantly to the country’s massive deforestation, while also impacting on the health of communities. WANA attempts to improve the health and socio economic standing of households by improving access to LPG energy.
LPG’s current products target a range of clients, making commercial resources available to urban business customers (e.g. medical staff, teachers, associations, and churches) or delivering gas products to rural clients isolated from sales agents or distribution sites by using local motorbikes cyclists (Locally known as Boda Bodas).
Since commencing operations in 2009, the organization has provided close to 12,000 customers with affordable LPG by distributing and installing affordable equipment and a range of cookstoves to households and small companies. On average, by switching to LPG clients are able to reduce their energy bill by up to 15%.
A unique lending approach:
Since achieving self-sufficiency in 2011, WANA’s declining dependence on local development banks has impacted its working capital, limiting its expansion. By partnering with Kiva, the organization will now be able to offer customers two new loans: (1) Household and Small Business Loans (2) Savings and Cooperative Loans. Both of these products will allow WANA to reach more families and organizations across Uganda in different ways, by reducing the country’s current reliance on harmful and polluting fuels.
With a low annual interest rate of 10% and 6 to 12 month repayment terms, Kiva lenders’ funds will support the Household and Small Business loan to help families and small organizations to access LPG into their daily lives. The in-kind loan provides borrowers with equipment and refills on lease.
Kiva’s flexible capital will also fund the franchisee loan, a product that aims to empower women entrepreneurs by encouraging them to start their own WANA Solutions redistribution center. These borrowers must be approved by WANA staff before receiving equipment, training and hands-on support to begin and maintain operations. These loans also carry a 10% annual interest rate with repayment terms of 24-48 months.
English (official national language, taught in grade schools, used in courts of law and by most newspapers and some radio broadcasts), Ganda or Luganda (most widely used of the Niger-Congo languages, preferred for native language publications in the capital and may be taught in school), other Niger-Congo languages, Nilo-Saharan languages, Swahili, Arabic