Company’s first energy deal with M-KOPAThursday 15th, October 2015
Symbiotics recently became a partner of M-KOPA, an Africa-based solar energy solutions company that has connected thousands of homes in several countries in Central Africa to solar power. Their market-tailored product relies not only on more affordable green technology but also on an innovative pay-as-you-go system that allows customers to make small daily payments via mobile phones.
Since its launch in 2013, M-KOPA has connected more than 200,000 homes in Kenya, Tanzania and Uganda to solar power. An initial modest down payment allows customers access to a solar panel, two ceiling lights and a cellphone charger with an expected life span of 7 years. After a year of very small daily payments made via mobile phone, customers own this system outright. Daily payments are the same price or less than the kerosene lighting that these off-grid homes would otherwise have relied on while the solar energy has positive environmental, health, and social impacts, including enabling, for example, school children to do homework at night.
In September, Symbiotics’ staff based in Geneva had the pleasure of having the Finance Director / CFO and one of M-KOPA’s founders, Chad Larson, give them a presentation and technical demonstration of their green technology and explain how the business model was designed.
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