A common issue facing processing and manufacturing companies in Africa is the lack of reliable electricity. Time and money are lost every time the power goes out. Food is spoiled. Growth is held back.
Here in the 2020s solar is now an affordable solution. Specifically battery-backed solar, running 24hrs on solar power with the grid used only as a backup.
That may sound expensive, but given the capital to do the installation, the cost of solar power is lower than the national electric grids and the system pays itself back in 5-8 years. After that, the power itself is free.
The challenge above is the capital. Africa Eats is solving that issue for its bizi through solar leasing. The holdco is paying for the installation. The bizi is then paying a monthly electric bill, based on a discount to what they’ve been paying the national grid, and buying the system from Africa Eats over 100 payments spread out over 15 years.
In short, it’s a flexible, 15-year, 0% loan that for most of that time period cost less than the monthly electric bill.
The first installation is at Chicken Basket in Kisumu, Kenya. 45KW of power and 24 hours of battery storage.
Many more installations in the queue, with a goal by 2022 for all of Africa Eats bizi to be running on 100% reliable, renewable power, and then into the 2020s with electric trucks to eventually make operations even more environmentally sustainable.