OFF-GRID ELECTRIC TANZANIA LIMITED
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
ZOLA Electric (former Off-Grid Electric) is one of the leading off-grid solar home system providers in Tanzania.
What is our funding objective?
The project’s aim is to support ZOLA in establishing a sustainable credit function and in improving all aspects of credit risk management: from customer selection and collection, to compliance and risk monitoring.
Why do we fund this investment?
ZOLA provides clean and first-time energy access to households in areas with unreliable or non-existent grid connection. Increased energy access contributes to productivity of households, small businesses and economic growth as lighting and charging allows work and study beyond sunset.
More investments
| Date | Total FMO financing |
|---|---|
| 12/18/2018 | USD 12.50 MLN |
- Region
- Africa
- Country
- Tanzania, United Republic of
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 9/30/2019
- Total FMO financing
- EUR 0.04 MLN
- Funding
- AEF-I
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B