Can Crowd-Funding Help Scale Up Solar Power?

When Ronald Van Harten arrived in Kenya from the Netherlands in 2015 he was determined to invest in solar-powered equipment for homes across Africa, make a profit and help the rural poor get energy.

But within two years his company EcoZoom, which sells solar lights, radios, MP3 players and other equipment to some of Kenya’s poorest residents, ran into financial difficulties.

The banks were not willing to lend him the capital he needed to stay afloat and loans available from microfinance institutions were too small.

So, like a number of new technology companies seeking to scale up their programmes in Africa, he turned to a crowd funding company.

http://af.reuters.com/article/kenyaNews/idAFL8N1HL4UJ

Marufish

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