Company Performance Metrics
Joseph Nganga: Chief Executive Officer
Solanterns provides clean, bright and affordable solar lanterns, which are long- lasting, shatterproof and fit all the other needs in developing countries. They are designed for households without sufficient electricity to improve education, mitigate greenhouse gases, eliminate fire hazards and respiratory illnesses, create wealth and sustainable
development.
Approximately 6 million households in Kenya do not have access to electricity. Kerosene costs are $0.20 per day per household and amount to a total annual market of $438M. The World Bank estimates the market for solar lanterns in Kenya at 1 million units annually.
While there are plenty of high quality lanterns today, distribution has been a challenge. Solanterns has developed an innovative business model that leverages local financial intermediaries such as microfinance institutions, cooperatives, and community savings groups to make lanterns affordable to off-grid households. The model enables acceleration of solar lantern adoption by providing lanterns on monthly payments that households can afford because they are lower than the current monthly cost of lighting and cell phone charging.
