Uganda’s President Yoweri Museveni has met a delegation of solar energy systems distributing firm, Fenix International and discussed prospects of increasing access to the rural areas.
Museveni met the delegation led by Chief Executive Officer of Fenix International, Lyndsay Handler at his State House, Nakasero in Kampala last week.
According to the press statement, President Museveni told the Fenix International delegation that the stand of the government is to promote projects that will make money.
“Our focus is on projects that make money such as the oil roads and the national airline. We want to promote ventures that support our industries especially in value addition,” he said.
Fenix International, which has been in operating Uganda for the last 10 years, engages in a wide range of ventures that include software building and hardware engineering. It also assembles and distributes solar energy systems that have to-date benefited over 350,000 homes.
The company’s flagship product, Ready Pay Power, is an expandable, lease-to-own solar home system providing lighting, phone charging, Television and radio service financed through affordable instalments over mobile money.
President Museveni said that the government will consider the company’s request to subsidise supply of solar energy to low income people after one year and also to work towards sorting out VAT-related issues as the company is involved in assembling solar-powered systems locally. Over 80 per cent of households in Africa lack access to energy.
Handler revealed that Fenix International exports software to six countries.
Described as a next-generation energy company, Fenix International flagship product, ReadyPay Power, is an expandable, lease-to-own solar home system providing lighting, phone charging, TV, and radio, financed through affordable instalments over mobile money.
The company combines rich customer payment histories with additional data sources to create a cutting-edge credit score that enables those living off-grid to access both power upgrades and other life-changing loans.
Fenix International has the pioneered an innovative strategy that serves the most rural customers through a broad network of sales agents, called ReadyPay Champions that work collaboratively with engaged customers.
It also built unique co-branding and distribution partnerships with telecoms like MTN to dramatically reduce costs and reach even more last-mile households.
Source: EA Business Week