Healthier and safer Sibanga is located 400km outside of Nairobi, with the majority of people here farming sugar cane. The people benefiting the most from this project will be farmers and their children. Many of them spend a lot of money per month for kerosene, batteries (for their old radios) and phone charging. Due to toxic fumes emitted by kerosene lamps people have to visit the hospital as often as once per month, costing EUR 9 per visit. Total annual costs can run to over 180 EUR! Cheaper electricity Solar is also much cheaper than connecting to the national grid, costing up to 925 EUR one-time connection fee and 4.6 EUR/month on average. This results in low electrification rates due to the connection not being affordable for the people in the region. Once the product is paid for, there are no additional costs and the products is expected to last up to five years. Better school results People will use the systems to light up their homes and walk outside in the night with the portable lamps, listen to the news on the radio and charge their phones at home instead of walking far distances to do so. School children will be able to study after sunset and improve their school performance. Solar Partner - EcoZoom EcoZoom has a team of 16 people, mostly located in East Africa. EcoZoom East Africa has been trading improved cookstoves and solar lighting solutions in East Africa since October 2013. They have achieved sales of 3 million USD in Kenya during this time and anticipate doing sales of a further 6 million USD between 2017 – 2019. Within the next six months they are looking to expand into Tanzania, Uganda and Rwanda (they already have orders from Tanzania and Uganda). The repayment process EcoZoom has different ways of getting paid, either upfront or with a 30 day payment term (with or without deposits). Their distributing partners get the systems, give them to their employees or customers, collect the payment over 3 months and pay back EcoZoom. In order to match their distribution progress, EcoZoom will pay off the loan over a 15 month period. The illustration on the project page (www.jointrine.com/project/15) outlines the financial details of this campaign for a project that has been successfully completed. It is calculated on an example investment of 100 EUR and is intended to illustrate the repayment process. You will be paid out on an on-going basis and be able to re-invest or take out the repayments upon successful implementation of the project. The interest is calculated on declining balance, meaning that as EcoZoom pays off their loan, they pay less interest to you. There is also a 15% withholding tax on the interest, resulting in the 6.38% final annual interest rate. EcoZoom also has the option to pay back earlier if possible, meaning you would get your total investment back with the interest up to that date and be able to re-invest earlier in a new project.
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The TRINE Way 1.2 billion people around the world currently lack access to electricity. TRINE seeks to solve this problem by closing the gap between private capital in developed countries and local solar partners in emerging markets. At TRINE we believe in profit with purpose. Our commitment to this principle stems from TRINE's founding goal: ending energy poverty. We realize that in order to end energy poverty, finding a sustainable long-term solution is key. The for-profit nature of TRINE as a business and our projects as investments means that our projects are economically viable and thereby ensures that together we can have a social and environmental impact in the long run. TRINE-financed projects will reduce CO2 emissions, reduce health costs, increase knowledge levels and reduce poverty. We've seen voting/democratic participation increase due to villagers being able to get accurate and swift information on election dates and locations. New entrepreneurial ventures pop up connected to the introduction of energy in the villages - such as fertilizer production and water sanitation. Today, we have 7 fully funded projects (350k EURO). Our success rate is 100% to-date.
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