Finance ready plan: Lighting Kenya, efficiently and affordably
Renewable Energy Ventures Ltd, Kenya
Every week, BiD Network highlights three finance ready plans. These top businesses have been subjected to the rigorous selection, coaching and matchmaking processes of BiD Network. They are ready for investment to expand their operations. With feasible business plans, a solid management team and real growth potential – finance ready plans deserve the attention of committed investors.
Founded by a former investment banker, turned into a social entrepreneur, Renewable Energy Ventures provides renewable alternatives to kerosene forms of lighting. Jospeh Nganga, studied in Europe and America, focusing on clean technology, using this knowledge and his insight into the African market to produce a solution to the low electrification rate in his native Kenya.
Renewable Energy Ventures provides quality affordable solar energy solutions to communities that do not have reliable access to the grid. The focus was to replace unhealthy, harmful kerosene lighting methods used in developing countries through the provision of affordable lighting products, specifically designed for low income populations. Renewable Energy Ventures has already joined the International Finance Corporation in its “lighting Africa” initiative and is expecting to distribute 1 million solar lanterns to Kenyan households every year. Read more
Sector: Renewable Energy
Finance needed: US$200,000 – $500,000
About BiD Network
BiD Network contributes to sustainable economic growth by stimulating entrepreneurship in emerging markets. With over 46,000 members and 10,000 business plans, bidnetwork.org is the world’s largest online community for emerging market SMEs, coaches and investors. Since 2005, BiD Network has launched 670 businesses, created more than 4700 direct jobs, and mobilised $15 million from investors. In November 2010, BiD Network was chosen by a G-20 jury as one of the 14 most innovative SME Finance organisations in the world.
To see more companies in Africa looking for investment, visit Finance Ready Plans.