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Total loan: $50,000
Ecozoom East Africa
Nairobi, Nairobi, Kenya / Retail
Flag of Kenya
Ecozoom East Africa's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to provide life-changing clean cookstoves to rural Kenyans, decreasing cooking costs and improving public health.
Ecozoom East Africa's story
This loan may have higher risk but higher impact. Learn more here. Problem: Billions of people worldwide need a safer and healthier way to cook. Women spend hours collecting fuel and cooking on inefficient fires. Rural and semi-rural populations can spend up to 30% of their income on fuel, and an estimated 1.2 billion people are living without electricity. Household air pollution is a leading cause of health issues, as cooking on a three stone fire is the equivalent of smoking 2 packs of cigarettes a day. Solution: EcoZoom is a social enterprise based in Kenya that designs, manufactures and distributes fuel efficient cookstoves and solar powered lighting solutions. Their cookstoves reduce fuel costs by up to 70% and harmful emissions by up to 60%. A video on their work is here. Loan Use and Impact: With this loan, EcoZoom will be able to purchase over 5,000 cookstoves to sell in East Africa. EcoZoom sells these systems through partner organizations like micro-finance institutions. These partners offer payment plans to their customers who cannot afford to pay the full price upfront. EcoZoom was previously a Kiva field partner, and while they did not default on any loans, their internal credit program was not efficient. Kiva's DSE Program lets them to access more flexible capital.