Azimuth Solar's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to purchase solar lanterns and solar home systems in Sierra Leone.
Azimuth Solar's story
Sierra Leone is one the most energy poor countries in the world with an electrification rate of 1% in rural areas. The severe lack of grid access in the country and poor grid reliability in urban areas, has led to a dearth of power provision across Sierra Leone. The average household spends up to 30% of their limited income on kerosene, batteries, or diesel generators, which are expensive and environmentally harmful.The Solution
Azimuth Solar (through its fully owned subsidiary Easy Solar) offers affordable and upgradable solar-powered lamps and home systems, payable in installments on a mobile phone. Azimuth’s business model transforms conventional pay-as-you-go financing by initially offering an entry level solar lantern, made affordable through a rent-to-own payment plan. The customers with a good credit score are then able to upgrade to solar home systems and DC appliances. As a last mile distributor, Easy Solar reaches customers underserved by the grid through an extensive network of community-based agents, making clean energy both affordable and accessible
Loan use and impact
Azimuth has sold solar-powered devices to customers across 6 of Sierra Leone’s 14 districts, improving the lives of over 15,000 beneficiaries. With your support, this loan will enable them to finance the purchase of additional life-changing solar products, getting them closer to their aim to reach over 150,000 people over the next 2 years.