One billion people live in extreme poverty and off the grid, without basic infrastructure, reliable energy, or efficient consumer products. The past decade has seen the development and distribution of scores of life-changing products designed specifically for those families at the bottom of the pyramid. A solar energy system would easily pay for itself over time, but the poorest of the poor can’t afford the initial investment. Upfront costs stifle adoption rates.
Angaza saw that flaw in the system and created an accessible, affordable, Pay-As-You-Go (PAYG) financing mechanism to get solar and clean energy products into households with the greatest need. Angaza’s PAYG platform enables even the smallest, most remote, last-mile distributors to offer affordable financing to their customers on an ever-expanding portfolio of life-changing products in more than 30 countries.
Angaza’s business model is powered by two tools: technology licenses that allow hardware manufacturers to embed remote-activation circuitry into their products, and cloud-based loan activation and enforcement software that help distributors use the PAYG financing approach. Angaza has charted a path for digital finance service providers to fill the market gaps that traditional brick-and-mortar financial institutions leave behind in impoverished urban centers and remote rural communities.