Business

Uganda’s ReadyPay Power Hits 100,000 Users in Just 12 Months

Fenix International, which supplies ReadyPay Power in Uganda, pay-to-own solar systems launched in partnership with MTN, has reached 100,000 customers in Uganda, where over 80% of people lack access to electricity.

The firm says roughly 600,000 people in Ugandan households are now benefiting from the 1.2 million watts of solar installed across the country. The firm estimates that more than 200,000 dangerous and polluting kerosene lamps have been displaced by their product.

According to Lyndsay Handler, CEO of Fenix International: “Since we started selling ReadyPay on the pay-to-own model in 2014, we’ve seen exceptional demand. I’m incredibly proud of our team, who’ve worked hard to
reach last mile customers in this underserved market and relentlessly provide an exceptional customer experience.”

“Arriving at 100,000 customers showcases our fantastic growth record, but more importantly it represents more than 600,000 Ugandans who now have power and bright, safe light in their homes for the very first time. In addition, all of our off-grid customers build up a credit score, opening up new access to financial services and additional product upgrades.”

Hitting the 100,000 customer milestone brings the total of solar leases deployed by Fenix to over $20 million. In 2014, the firm celebrated its 10,000th customer using ReadyPay Power which allows customers to pay just $0.15 per day for the entry level product, with 36 months to complete payment for the entry level $160 solar home system.  After a customer makes a deposit over MTN Mobile Money, ReadyPay unlocks access to the battery.

Fenix International says customers have generated over 2.5 million mobile power payments so far. Fenix now aims to take ReadyPay and additional product lines to new African markets in the coming year.

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