Money Markets
M-Kopa Solar has supplied 250,000 households across
Kenya, Uganda and Tanzania with cheap energy solutions since its
inception in 2011, its promoters have said.
Managing director and co-founder Jesse Moore says the
celebration of a quarter million customers is a major milestone for the
firm.
“Last September, we celebrated when we achieved
100,000 customers, and a year later we are already at a quarter-million
which is a great milestone in our activities,” said Mr Moore.
He said with hundreds of customers coming on board
every day, the solar kit is helping East Africa to enjoy cheaper,
cleaner and reliable solar power.
M-Kopa is a pay-as-you-go solar scheme where users
begin using a solar kit by paying a Sh2,999 deposit, a daily fee of Sh40
via M-Pesa to access the solar-powered lamps and own the equipment
after a year. This brings the overall payment to about Sh17,599.
The solar lamps are programmed in a way that they
automatically switch off whenever customers default on the daily
payments. The kit consists of a panel, three lamps, radio and mobile
phone charging kit.
The kit has come in handy for households that are
not connected to the power grid. “I purchased this system for my rural
home where there is no access to electricity,” said Alex Nduati, a
customer.
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