What will your investment provide?
With the money invested in this campaign Sollatek will be able to deliver power control products that protect energy access for homes and businesses.
How many homes or businesses will benefit?
This raise will help to deliver power control equipment for about 600 homes and 160 businesses.
INVEST DIRECTLY IN POWER CONTROL EQUIPMENT FOR EAST AFRICA
Energy access is impacted by power outages and weak grid issues in East Africa, including high and low voltages and power surges which damage equipment.
Power control equipment can avoid or minimise the use of diesel generators by providing battery and inverter back up instead.
Power control equipment can protect precious electrical equipment from voltage variations and power surges and allow refrigeration to be maintained, avoiding waste. Power control equipment in clinics can secure the operation of vital medical equipment and refrigeration.
Key product information
Issuer: Sollatek Electronics (Kenya) Ltd
Issuing Country: Kenya
Investment target: £180,000
Minimum investment: £50
Maximum investment: No maximum
Maturity: 24 months
Expected interest rate: 6% per annum
Withholding tax rate: 15% (applicable to UK residents who do not invest within an IF ISA)
Interest payment frequency: Semi-annually
Capital repayment: Semi-annually
Financial instrument: Unsecured interest bearing bond
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 offer document (provided below) where a full statement of risks is presented.
What the project investment will enable
Sollatek aims to raise £180,000 of investment in this raise which will enable them to design and install about 760 power control systems for 600 residential homes and 160 businesses. The exact systems delivered will depend on customers requirements but Sollatek can estimate likely demands based on recent business.
The electricity grid in Kenya, and more widely in East Africa, is impacted by power outages, and other power issues that can damage equipment. Sollatek provides power control equipment that can protect against voltage fluctuations or power surges, or that can provide battery and inverter back up to replace a generator, depending on what each customer needs.
Sollatek Electronics Kenya
Sollatek Electronics (Kenya) Limited (“Sollatek”) started operations in 1985, and is a leading importer and distributor of power control, energy efficiency, and solar solutions in East Africa.
Products are sold through a region-wide network of resellers, mainly in Kenya as well as Uganda, Tananzia Rwanda, and Burundi; resellers include major regional supermarket chains, electronics and electrical shops, hardware stores and general stores.
Social and environmental impact
Power control equipment secures energy access for homes and businesses by protecting against weak grid issues that can interrupt supplies and damage electrical equipment.
Protecting home and business activities from power cuts, voltage issues and power surges secures energy access and protects equipment, including health impacting equipment such as medical equipment in clinics and refrigeration equipment.
homes will get new power control equipment
of businesses sales are impacted by power outages in East Africa
of health facilities in Sub-Saharan Africa lack reliable power
Power control equipment can avoid or minimise the use of diesel generators by providing battery and inverter back up instead. Precious electrical equipment is protected from voltage variations and power surges and refrigeration is maintained, avoiding waste.
of business electricity needs are met by generators in East Africa
the average duration of each electrical outage in Kenya
businesses will get new power control equipment