Zonful Energy's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to distribute solar home systems throughout rural Zimbabwe with pay-as-you-go credit.
Zonful Energy's story
11M of Zimbabwe’s 15.6M population live in rural areas. 75% (or 8.25M) of rural people are off-grid and depend on kerosene for lighting. Furthermore, even those with access to the national grid experience inconsistent and poor quality service. Henceforth, latent demand for solar technology exists widely but affordable solutions are few and far between.Solution
Zonful Energy brings together solar and mobile technology to provide affordable, clean and bright energy to off-grid villages in Zimbabwe. Zonful provides smart credit to enable low income consumers to access energy products and pay for them in instalments using mobile money platform such as Econet.Loan Use & Impact
Zonful will use the loan specifically for piloting PAYG in the more remote, rural areas of Zimbabwe. For Zonful’s customers, the payment plan will be a 20% initial deposit, followed by regular payment for up to one year. After completing payments, customers own the solar product outright.