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Solar firm targets a million households
M-KOPA Solar managing director Jesse Moore (left), Commercial Bank of Africa chief executive officer Jeremy Ngunze (centre) and Safaricom chief executive officer Bob Collymore during a media briefing where they announced a partnership deal that will facilitated Safaricom customers get loans from CBA to purchase the solar system through the mobile provider mobile money platform for low income consumer-most of whom live below the poverty line. The event was held at Safaricom House in Nairobi on February 6, 2014.
What you need to know:
- M-Kopa Solar has raised Sh1.7 billion to expand its existing customer base to a million households by 2018 from the current 50,000 users.
- “This is a combined savings by existing M-Kopa Solar households estimates based on a four-year average usage of solar system, or Sh64,000 per household,” he said.
M-Kopa Solar has raised Sh1.7 billion to expand its existing customer base to a million households by 2018 from the current 50,000 users.
Commercial Bank of Africa (CBA) has injected Sh860 million into the project that targets off-grid households with the green energy.
