25% Match Funded
36 months to mature 5.5% interest

BBOXX Democratic Republic of Congo 2: 5.5% Bond

£144,750
Raised

72
Investors

47
Days to run

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invested £175 invested

Each £175 invested through BBOXX will enable one family in DRC to buy a four light solar home system on a flexible payment plan to meet their needs

households 1,080 families

Your investment will help BBOXX to expand their operations and to provide clean energy to approximately 1,080 families in Democratic Republic of Congo

BBOXX is a UK company that began operations in 2013 and has provided approximately 675,000 people in the developing world with access to smart, affordable, clean energy solutions. BBOXX has an ambitious plan to provide 20 million people with access to clean, affordable energy by 2020. Part of this strategy is to be present in 10 major cities in the DRC with a further 85,000 customers by 2020 and to be the biggest energy provider in the country by 2025.

This project benefits from match funding from UK aid. UK aid has provided an up-front match of £50,000, meaning that for every £3 invested into this project by the crowd an additional £1 will be invested through match funding.

About BBOXX

  • Sold more than 135,000 systems since 2010
  • Providing approximately 675,000 people with access to solar energy
  • Founded in 2013 with head offices in London, UK.
  • Main operations in Rwanda, Kenya, Nigeria, Democratic Republic of Congo & Togo.
  • Directly employs 425 people across the countries in which they operate
  • Global Cleantech Top 100 company 2017 & 2018
  • Turnover of £11 million in 2017
  • Key product information

    Investment target: £200,000

    Minimum investment: £50

    Maximum investment: No maximum

    Maturity: 36 months

    Expected interest rate: 5.5% 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

    BBOXX in the media

    What the project investment will enable

    BBOXX have ambitious plans in DRC and by 2020 are hoping to be present in 10 major cities in DRC with a further 85,000 customers with the goal of becoming the biggest energy provider in the country by 2025. BBOXX will use 90% of the funds from this raise to install 1,080 of their flagship BBOXX Home systems and will use 10% to install 29 BBOXX Enterprise systems across the DRC from their distribution centre in Kigali.


    BBOXX's Solar Home System, BBOXX Home, is Lighting Global Quality verified. BBOXX Home comes with a 50W solar panel and 17Ah battery, 4 LED lights (with a total output of 470 lumens), 2 USB ports, 6 12v ports, which can be used for running other appliances and a TV (optional).


    Providing families and individuals with access to a TV has multiple impact benefits. Firstly, keeping up to-date with local news and weather forecasts helps residents better understand 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.


    The BBOXX Home systems can also be pay-as-you-go enabled. Customers make repayments and then own the systems outright typically after 36 months (but can vary depending on their personal Hire Purchase Agreement). After the fixed term, customers pay a monthly Energy Service Fee in order to cover maintenance costs.


    BBOXX's Enterprise System, helps provide urban professionals with reliable, affordable electricity and appliances for the first time. The Enterprise package includes a 270W solar panel, a 55Ah battery, a 95L Fridge (optional), a laptop charger, 3W modern DC lighting fixtures and a 40" TV.

    BBOXX Capital Ltd

    BBOXX Capital Ltd are looking to raise £200,000 from this bond issue as working capital to help expand their operations after their recent market entry into DRC. The money will be used for purchasing stock, which will be distributed across the eastern cities of Goma and Bukavu on the border with Rwanda. These are the optimal entry points for BBOXX into this market allowing them to serve 2 of the largest cities in DRC while leveraging their existing operations across the border in Rwanda.


    BBOXX are currently supplying 550 families in DRC with clean, reliable electricity but with a combined population of close to 1.9million in these cities, BBOXX believe there is the potential for them to service up to 80,000 households with their SHS products.


    Social and environmental impact

    Solar home systems, such as BBOXX Home, have been shown to have a significant impact on customers' lives and the environment. To date, BBOXX has sold more than 135,000 systems, with the potential to provide approximately 675,000 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. A recent (December 2017) survey of BBOXX customers revealed:

    89%

    of customers are not connected to the grid

    87%

    of customers said that their BBOXX SHS was the first product they had bought on credit

    66%

    of customers were previously using kerosene as their main source of light before accessing BBOXX

    39%

    of previous kerosene users reported having fire-related accidents from using it

    88%

    of previous kerosene users reported health issues from using it

    95%

    of customers said that pay-as-you-go as a payment method suits them

    Environmental Impact

    Environmental impact

    Using industry-recognised Global Off-Grid Lighting Association (GOGLA) impact metrics, BBOXX has calculated the environmental impact of installing 1,080 BBOXX Home systems as follows:

    5,400

    Number of people who will enjoy clean energy access

    $199USD

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

    0.39tonnes

    Total greenhouse gas emissions offset per household over the lifetime of the product

     

    Frequently Asked Questions