25% Match Funded
24 months to mature 5% interest

Azuri Tech - Kenya SolarPlus 4: 5% Bond

£100,000
Raised

48
Investors

32
Days to run

Login to invest
Login to invest Login to invest

invested £200 invested

Each £200 invested through Azuri will enable one Kenyan family to buy an Azuri SolarPlus home system in affordable instalments over 30 months

households 500 families

Your investment will help Azuri to provide clean energy to 500 families in Kenya

Since Azuri began in 2012, they have focused on Sub-Saharan Africa, and now have one of the widest reaches of any off-grid provider in the region. Azuri is addressing the problem of energy access that affects over 600 million people in Sub-Saharan Africa, a lack of access to the grid. Your investment will help Azuri to provide clean energy to a further 500 households impacting over 2,500 people in Kenya.

This project benefits from match funding from UK aid. UK aid has provided an up-front match of £25,000, meaning that for every £3 invested into this project by the crowd an additional £1 will be invested through match funding.

About Azuri

  • Sold more than 100,000 systems since 2012
  • Providing approximately 500,000 people with access to solar energy
  • Azuri home solar systems are operating in 12 countries across Sub-Saharan Africa
  • Has 50 direct employees and operations in the UK, Kenya, Tanzania, Zambia, Nigeria, Ghana
  • Works with over 1,000 sales and field agents through local partners
  • Was founded in 2012 in Cambridge, UK
  • Generated revenue of £1.9 million in 2016
  • Key product information

    Investment target: £100,000

    Minimum investment: £50

    Maximum investment: No maximum

    Maturity: 24 months

    Expected interest rate: 5% per annum

    Interest payment frequency: 6 monthly

    Notional repayment: 6 monthly

    Financial instrument: Unsecured interest bearing bond

    Security: Unsecured

    Key risks

    This is a bond issued by a single company (rather than a savings product) and therefore it is recommended that you are careful with the amount you invest.

    You must read the investment memorandum (provided below) where a full statement of risks is presented.

    Documents

    Azuri in the media

    What the project investment will enable

    Every £200 invested will allow Azuri to make a SolarPlus home system available to a rural Kenyan family that would otherwise be out of their financial reach. Azuri's PayGo service model enables customers to pay back the cost of the system over time (typically 30 months) after which they fully own the system and can continue to use it for free.


    The SolarPlus system (a Lighting Africa quality assured product) includes a 50W solar panel, a rechargeable battery, 4 powerful LED lights, a rechargeable torch and radio and 2 USB phone charging cables. Furthermore, the system has the ability to power an energy-efficient 24-inch LED satellite TV with access to 57 TV and 21 Radio channels. Azuri’s customers increasingly want a fuller on-grid system experience. With the SolarPlus system, when powered by a full days’ worth of sunlight, families are provided with up to 5 hours of Lighting and TV, as well as phone charging.


    Providing families and individuals with access to a TV has multiple impact benefits. Firstly, keeping up to-date with local news and weather forecasts is important to them to better understand any developments that may impact them. Secondly, educational content on TV is typically very accessible for both children and adults, who are able to learn useful topics, such as farming techniques, through engaging story-telling. Furthermore, research has shown that TV shows often inspire viewers to reach higher, driving them to study and work harder. Finally, it provides an opportunity for families and friends to gather around and strengthen important social ties.


    Azuri aims to raise £100,000 of investment, enabling them to manufacture and distribute at least 500 SolarPlus systems together with their local distribution partners. Furthermore, Azuri will also co-invest a further £33,300 alongside this investment to purchase an additional 167 SolarPlus systems - making a combined total of at least 667 SolarPlus systems which can be purchased and deployed.  


    Azuri also aims to recycle capital repaid by its solar customers during the 24 month loan period to procure additional SolarPlus systems to further maximise impact.

    Azuri Tech

    Azuri will deploy the funds across Kenya, where today, approximately 4 million households do not have access to mains electricity. Working with local distribution partners Azuri will continue to extend the scope of its operations across remote rural regions where access to mains grid electricity is limited, including the Rift Valley, Western and Nyanza provinces.



    Thanks to Azuri’s expertise in last-mile distribution, combined with an extensive team of field agents visiting every customer, units funded and installed by this project will be geotagged. This helps Azuri keep track of where customers are (in absence of formal addresses in remote villages), and enables Azuri to provide high quality customer service on an ongoing basis after the system is installed. Furthermore, in the event of problems or need for support, it means Azuri can also quickly dispatch an agent to help customers.


    Social and environmental impact

    Solar home systems, such as the SolarPlus system, have been shown to have a significant impact on customers' lives and the environment. To date, Azuri has sold more than 100,000 systems across Africa, with the potential to provide approximately 0.5 million people with access to solar energy.

    Social Impact

    Social Impact

    The installation of solar home systems to off grid families has significant impacts that can be divided into the following categories: lifestyle, flexibility, health and safety, and economic. Over the years, Azuri's own customers have told us how their solar home systems have benefitted them:

    96%

    My air quality has improved

    98%

    My family’s previous kerosene-related health issues have reduced

    93%

    I feel safer

    97%

    My children can study more

    37%

    The money I save on kerosene, batteries, and candles I mainly use for my children’s education

    68%

    I have more evening home visits from family and friends

    Environmental Impact

    Environmental impact

    Using industry-recognised Global Off-Grid Lighting Association (GOGLA) impact metrics, Azuri has calculated the environmental impact of installing 500 SolarPlus systems as follows:

    2,500

    Number of people who will enjoy clean energy access

    $199USD

    Average new household saving on energy-related expenditure over solar product lifetime

    1.2tonnes

    Annual total greenhouse gas emissions offset per household

     

    Frequently Asked Questions