Fenix International outpaces industry growth to reach 150,000 Zambians in 9 months
Friday, September 7, 2018
This rate of growth exceeds the company’s initial expectations and far outpaces the industry average, cementing Fenix’s place as a market leader within the off-grid solar sector.
Approximately 12 million Zambians live without access to the electrical grid, representing 75 percent of the total population. This rises to 95 percent of rural residents, with people living off-grid primarily relying on candles, kerosene, and batteries. Fenix’s solar home systems are designed to extend safe, clean and reliable energy to these individuals, and the lease-to-own business model makes the systems ultra-affordable to last mile customers.
Fenix’s expandable range of solar home systems also allows individual households the flexibility to match their system to their existing energy budget. The success of this positioning means that Fenix has been able to quickly reach customers in every province in Zambia.
After establishing a strong base in Uganda, Fenix expanded to Zambia in exclusive partnership with MTN Zambia, part of Africa’s largest telecom. Fenix customers use MTN Mobile Money to finance their solar systems, whilst MTN’s brand and distribution network helps Fenix to quickly scale across the country.
Fenix, a wholly owned subsidiary of Engie, is the only pay-go energy company which is part of a global utility. This strengthens Fenix in its mission to improve customers’ quality of life through inclusive energy and financial services.
Lyndsay Handler, CEO of Fenix International, comments: “This marks a great milestone for the entire Fenix Zambia team. ReadyPay Solar Power System is now providing power for clean, bright lights, phone charging, satellite TV and more to over 150,000 people in off-grid Zambian households. The impact on our customers and their communities is transformational: household income is boosted; families are safe from dangerous and polluting kerosene; children can complete homework after darkness falls.”
Moses Phiri, Head of Mobile Money, MTN Zambia, says: “We are exceptionally proud to partner with Fenix. By combining Fenix’s quality ReadyPay Solar Power System with MTN Mobile Money, we have brought clean, affordable energy to over 30,000 customers in Zambia.”
Moses adds, “MTN Mobile Money is rapidly growing and changing the lives of so many people in so many ways. We are excited by Fenix’s results in such a short period of time and looking forward to the months ahead as they continue to scale across the country alongside our Mobile Money offering”.
John Foye, Managing Director of Fenix International Zambia, adds: “Everyone on our high-performing team is excited to get out of bed in the morning to achieve our mission. Thanks to their passion, we have seen incredible growth in Zambia. That said, there is still a long way to go. We will keep working to chase the darkness away across Zambia, with our customers at the centre of everything we do.”
Photo courtesy of Karsten Würth.
Source: Press release (link opens in a new window)