Illumination East Africa (iEA), Tanzania
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.
Illumination East Africa (iEA), aims to provide affordable, purpose built and designed solar chargeable LED lamps – reducing greenhouse emissions, as caused by traditional kerosene lamping, whilst also saving money for families who use them. The average Tanzanian household spends between US$15-32 a month on traditional lighting methods. That is candles, wood burning or kerosene. Illumination is a deliberately commercial enterprise with social and environmental goals.
The key idea for Illumination is to create a sustainable business model which effects large scale change in the rural areas. Their main product is solar lights designed specifically to suit both the rigours of everyday use and the purchasing capacity of the target customers. The units are priced marginally above their landed cost to ensure maximum market penetration. To date more than 20,000 pieces have been distributed to five different Districts of Tanzania. Find out more about illumination East Africa’s plans to provide rural lighting here.
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 looking for investment in Africa, visit Finance Ready Plans.