SOLARKIOSK provides credit facilities to over 1,000 solar clients in Rwanda.
SOLARKIOSK began its micro-lease pilot program in Rwanda in 2016. The mission is to finance supplier-independent quality solar products to private consumers, without further engagement of banks or other lending facilities. Usually PAYGO companies offer finance to their own branded products, whereas SOLARKIOSK is supplier agnostic and offers a range of different quality suppliers.
The pilot was conducted by a team of 4 local finance managers and one senior finance manager, who developed and implemented the inclusive finance facility from scratch including all products, finance conditions and customer base, with a strong focus on small holder farmers in Rwanda via the country’s farming cooperatives.
SOLARKIOSK offers a vast product range, starting from small lamps to larger home systems and even solar powered TVs through its micro-lease program. Yasmin Olteanu, the Microfinance Manager leading the team, comments: “Farmers perceive the broad and supplier-independent range of high-quality solar products they can access with micro-lease as very attractive. This way, they can choose from many available products and suppliers what fits best to their situation and wallet! In addition, they don’t have to worry about accessibility of maintenance or repairs, since the E-HUBB is just around the corner”.