Sumac and M-PAYG brings you Solar closer home
Sumac and Danish firm M-PAYG have entered into an agreement to provide homes with affordable Solar equipment. Sumac, through its KAWI LOAN, would offered loans to customers seeking to acquire the Solar equipment, while M-PAYG will be solely responsible for the sales, distribution and installation of the solar equipment.
M-PAYG is a provider of high-quality prepaid solar energy systems for the developing world. M-PAYG systems allow off-grid low-income households and businesses to access solar energy through small-scale mobile repayments. To use the system you unlock it through weekly or monthly mobile repayments.
“We are very delighted to partner with Sumac Microfinance Bank to bring affordable solar energy solutions to the Kenyan homes,” says Asger Trier, who is the firm’s Founder and CEO. “We look forward to meeting the energy needs of Kenyan families in coming years through partnership. We can only say its a fantastic product that will help improve Kenyan homes and the livelihoods of its people.”
Over 1.2 billion, or one in five people in the world, do not have access to electricity. In Kenya, for instance, even though the government has done a remarkable job to connect rural families to the main electricity grid, there are so many other rural areas that are yet to realize this benefit. This is why M-PAYG is in Kenya.
“Even in areas connected to the grid electricity is often unreliable. Without access to affordable electricity, most families in rural areas must derive energy from generators or lamp oil (kerosene) which is hazardous, unhealthy and cost up to 37% of household income,” Asger says.
As M-PAYG continues to work closely with Sumac in delivering this all-important product, it is hoped the giant energy firm will be able to reach out to many rural areas and even peri-urban areas that are yet to get the facility, hence supplement the government’s objective to light up homes in Kenya.
“The advantage with this product is that you have so much energy to light up 15 bulbs, a TV, radio, charging unit, and still have enough to run other small energy needs,” Asger says. “This should mean the facility would be expensive, but surprisingly, its one of the most affordable in the market today, and worldwide as well. So get your unit, and enjoy the benefits. We are here to help you through the entire process.”