Total loan: $35,000
Sosai Renewable Energy
Kaduna, KD, Nigeria / Retail
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A loan helped to empower women entrepreneurs to distribute solar products in rural Northern Nigeria.
Sosai Renewable Energy's story
Problem: In rural Nigeria 70% of the population lacks regular electricity. Furthermore, Northern Nigeria—the country’s agricultural center where staple crops such as tomatoes & mangoes are grown—suffers from food security & income irregularities. These issues stem from inefficient marketing & storage, 40% of crops end up going to waste, depriving farmers of much needed income & exacerbating food security. Solution: Sosai provides clean cookstoves, water filters, solar refrigerators, solar lamps & solar dryers through a lease-to-own model. These products & services are distributed through community center solar kiosks that are run by women entrepreneurs. This structure allows Sosai to increase the incomes of both their products' consumers & women entrepreneurs. For farmers, Sosai offers solar dryers, refrigerators & other services that enable them to preserve & package their product. This allows farmers to sell at a premium by taking advantage of off-season sales of preserved fruit. Loan Use: The funds will be used to finance inventory & expand distribution by establishing 3 additional solar kiosks, staffed by women entrepreneurs & offering renewable energy products. Risks: North Nigeria, a region still recovering from the devastations caused by Boko Haram, suffers from a weak economy with a 50% unemployment rate. Click here to learn about Habiba’s 1st loan that she successfully repaid.