Oikocredit invests $1.2 million in Inyenyeri Company to support clean cooking solutions
Friday, May 4, 2018
By Bob Koigi
Social impact investor Oikocredit has made a € 1 million, approximately $1.2 million convertible loan to Inyenyeri, a fuel-utility company providing clean and environmentally-friendly cooking solutions in Rwanda.
Inyenyeri’s fuel and stove solution cuts smoke and toxic fumes by more than 90% compared to traditional cooking methods. It also uses 85-90% less wood than charcoal or sticks, reducing deforestation. It accomplishes this while costing around half the price of charcoal.
Illness attributable to household air pollution kills between 3-4 million people every year, according to the World Bank.
Inyenyeri currently serves 3,000 homes with stoves using renewable, made-in-Rwanda fuels, and is expanding rapidly. It aims to serve 150,000 Rwandan households by 2020, helping achieve Sustainable Development Goal 7: affordable and clean energy access for all.
Photo courtesy of Images Money.