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UpOwa - Issue 5: Cameroon 6.75% Bond
£75,000 | 46 | 0 |
£104 invested
Every £104 invested will enable upOwa to install a 10Wp Solar Home System to a household previously living off-grid.
720 families
Your investment will help upOwa to provide clean energy to 720 families in Cameroon.
Founded in 2014, upOwa has a bold ambition; to make solar energy available to millions of households now living in the dark in Cameroon and across Central Africa. Since their incorporation upOwa has become the leading ‘pay-as-you-go’ solar company in Cameroon and is on the way to become a leader of the solar sector in Francophone African countries. They have successfully installed up to 2,500 solar home systems across Cameroon with the aim to reach a further 50,000 beneficiaries over the next 6 months, and 1 million by 2023.
This project benefits from match funding from UK aid. UK aid has provided an up-front match of £18,750, meaning that for every £3 invested into this project by the crowd an additional £1 will be invested through match funding.
About upOwa
Key product information
Issuer: upOwa SAS
Issuing Country: France
Investment target: £75,000
Minimum investment: £50
Maximum investment: No maximum
Maturity: 48 months
Expected interest rate: 6.75% per annum
Withholding tax rate: 0% (applicable to UK residents who do not invest within an IF ISA)
Interest payment frequency: 6 monthly
Notional repayment: 6 monthly
Financial instrument: Unsecured interest bearing bond
Security: Unsecured
Key risks
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.
Documents
See what upOwa do
upOwa are one of the pioneering solar companies supported by the Energise Africa initiative, a joint venture between Lendahand and Ethex.
What the project investment will enable
Every £104 invested will allow upOwa to install a 10Wp Solar Home System ('SHS') to a household that was previously off-grid. With the funds from this raise, upOwa intend to supply 720 10Wp systems meaning that they will be able to bring electricity to 720 families previously off-grid in Cameroon.
UpOwa’s entry-level offer is a solar home system composed of a solar panel, a control unit that includes a long-lasting lithium battery, a universal cell phone charger and 3 ceiling lamps. All products distributed by upOwa come from suppliers who are Lighting Global Certified. They also offer a mid-level system that allows for additional appliances such as an additional ceiling light, a radio and a torch to be added.
UpOwa’s research shows that families living off-the-grid in rural Cameroon use an average of 4 cell phones per household. Those are out of battery most of the time, which forces users to travel a few hours to the next town at least once a week in order to recharge batteries. Thanks to the SHS's universal plug, phone charging can take place at home anytime, which allows users to save both a lot of time and money.
As most clients can’t afford to pay upfront for the full value of their SHS, upOwa allows for a repayment scheme over 18 months at the end of which individuals own their system outright.
![Carousel 1](https://cdn2.sharein.com/lendahand/cms/3cd18c67-8a48-4d52-8f44-5596a17e9938.jpg)
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upOwa
UpOwa are looking to raise £75,000 from this bond issue and will use those funds to deploy a total of 720 SHS across Western and Central Cameroon from their regional hubs in Bafoussam and Yaoundé. In rural areas of Cameroon only 22% of individuals have access to electricity.
Not only will your investment into this offer allow upOwa to provide electricity to off-grid families, but you'll also be helping the company to grow and provide further employment opportunities. In 5 years, upOwa aims to rapidly expand and has set itself 3 bold global objectives; to provide electricity to 1 million beneficiaries, to create 1,000 direct jobs and to save 2,000 ton of CO2.
Social and environmental impact
Solar home systems & lanterns have been shown to have a significant impact on customers' lives and the environment. UpOwa has sold over 2,500 SHS in Cameroon since their incorporation, impacting the lives of roughly 12,500 people.
![Social Impact](https://cdn2.sharein.com/lendahand/cms/8be84805-bb29-41c6-9a14-21408baefe13.png)
Social Impact
Social Impact statistics taken from GOGLA's July 2018 study 'Powering Opportunity: The Economic Impact of Off-Grid Solar'
91%
of solar light users who previously used kerosene lamps experienced an improvement in their health
91%
of customers purchasing a solar lantern or home system reported feeling safer since buying or using their product
84%
of households with children report that they now have more time with which to do their homework
![Environmental Impact](https://cdn2.sharein.com/lendahand/cms/91b5f37f-5b75-4083-96a6-48184ab23d1d.png)
Environmental Impact
Using industry-recognised Global Off-Grid Lighting Association (GOGLA) impact metrics, upOwa has calculated the environmental impact of installing 720 Solar Home Systems as follows:
3,600
Number of people who will enjoy clean energy access
$195
Average new household saving on energy-related expenditure over solar product lifetime
1.1tonnes
Total greenhouse gas emissions offset per household over the lifetime of the product