£50 investedEvery £50 invested will enable Altech to provide a solar entry-level system to a family previously off-grid in DRC.
33,000 familiesYour investment will help Altech to provide clean energy to 33,000 families in DRC.
Founded in 2013, Altech is a Congolese managed PAYGo solar company, who provide electricity to their fellow citizens while reducing fossil fuels and biomass's negative impacts. Through its diverse product portfolio, tailored payment plans, deep local knowledge and national distribution network Altech has established itself as a leading off-grid energy provider in DRC.
Since its inception, Altech has sold over 210,000 solar products, and successfully expanded its product offering to include larger systems in 2019, thereby positively impacting the lives of approximately 1 million people.
Key product information
Issuer: Altech Group SARL
Issuing Country: Democratic Republic of Congo
Investment target: £500,000
Minimum investment: £50
Maximum investment: No maximum
Maturity: 24 months
Expected interest rate: 6.75% per annum
Withholding tax rate: 20%
Interest payment frequency: 6 monthly
Capital repayment frequency: 6 monthly (from 12 months onwards)*
Financial instrument: Promissory note / Interest bearing bond
* For the first 12 months after the Issue Date, a "Grace Period" applies during which no capital repayments occur. The first capital repayment will take place 12 months after the Issue Date, and on a semi-annual basis thereafter. Please refer to the amortization schedule found on Page 28 of the offer document.
This is a bond issued by a single company (rather than a savings product) and therefore it is recommended that you are careful with the amount you invest.
You must read the investment memorandum (provided below) where a full statement of risks is presented.
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What the project investment will enable
Altech will use the funds from this raise to deploy and install 3,000 of their solar entry-level systems and 30,000 solar lanterns impacting the lives of approximately 165,000 people.
Altech serves a diverse customer base who have no or unreliable access to electricity. Altech offers an attractive entry-level system for lower-income, rural households to help them gain reliable electricity access, as well as urban households or shop owners who step up the electricity ladder by purchasing a solar entry-level system and appliance kit. The company also successfully operates in conflict zones and runs several electrification projects in refugee camps.
Through its diverse product offering combined with short and long-term payment plans, Altech has a solar energy solution for every household in several income levels. Altech customers buy the products through a Pay As You Go model, making a small down payment and a series of instalment payments on plans tailored to their needs. Through this, their deep local knowledge and national distribution network Altech has established itself as a leading off-grid energy provider in the DRC.
Altech will deploy 3,000 solar entry-level system and 30,000 solar lanterns throughout the Democratic Republic of Congo where it is thought that approximately 87% of individuals do not have access to electricity.
Not only will your investment help Altech purchase a mix of solar lanterns, solar lighting solutions and solar entry-level systems plus appliances but you'll also be helping the company to grow and provide further employment opportunities. Altech aims to reach 1 million customers by 2024 and positively impact over 5m people's lives while building Africa's largest and most reliable network to distribute clean energy products.
Social and environmental impact
SHS & lanterns have been shown to have a significant impact on customers' lives and the environment. Altech has sold over 210,00 solar products in DRC in, impacting the lives of approximately 1 million people.
Social Impact statistics taken from Global Off-Grid Lighting Association's (GOGLA's) April 2020 "Standardised Impact Metrics for the Off-Grid Solar Energy Sector"
of customers purchasing a solar lantern or entry level system reported feeling safer since buying or using their product
of households generate additional income once they purchase a SHS
of customers say that their children have more time to study
Using industry-recognised Global Off-Grid Lighting Association (GOGLA) impact metrics, Altech has calculated the environmental impact of deploying 33,000 solar products as follows:
people who will enjoy clean energy access
reduction in kerosene usage from households using solar products
of carbon dioxide equivalents avoided