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Total loan: $100,000
Freetown, Western Area, Sierra Leone / Retail
Flag of Sierra Leone
Azimuth Solar's loan finished fundraising,
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A loan helped to purchase solar home systems for off-grid communities in Sierra Leone.
Azimuth Solar's story
This loan may have higher risk but higher impact. Learn more here. The Problem Sierra Leone is one of 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 instalments 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. A video on their work is here. Loan use and impact Azimuth has sold solar-powered devices to customers across 15 of Sierra Leone’s 16 districts, improving the lives of over 100,000 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 350,000 people over the next 2 years.