ECO-ZOOM

INNOVATIVE CUSTOMER FINANCING FOR CLEAN ENERGY PRODUCTS

The project piloted a layaway (savings) customer financing scheme for clean energy products, implemented through a business-to-consumer (B2C) retail in Western and Coastal Regions of Kenya. For low-income households, purchasing clean cookstoves and solar lighting through layaway and flexible (M-PESA) payments reduces risk margins and rates compared to other financing options. EcoZoom reached over 20,000 people at the bottom of the pyramid (BoP). EEP Africa financing enabled EcoZoom to test and refine its savings scheme to best fit customer preferences and ability to pay, while also proving the B2C retail business model.

Outcome and Impact

During the project period, EcoZoom sold more than 3,000 cookstoves and more than 3,000 solar powered lighting solutions. These clean energy solutions will achieve EUR 1 million in savings on energy-related expenditure. This project also created 100 direct jobs, of which 55 were for women. Their project encouraged growth of existing women groups and formation of new groups targeting financial inclusion to enable access to clean energy products.