Sun King, a company featured in Vintage Altaroc Odyssey 2021, has a strong presence in Africa, where many regions are deprived of access to electricity, and inhabitants are still dependent on costly and polluting energy sources such as kerosene for lighting and diesel for power generation. These expenses represent an average of 5-10% of household income, often to the detriment of health. At the same time, some 350 million adults in Africa do not have access to a bank account, which is a major obstacle to the purchase of solar systems.
Mobile financing facilitates access to solar energy
Sun King gives its customers access to solar systems through a Pay-As-You-Go (PAYG) financing model, which facilitates access to energy by enabling payment in small monthly installments via mobile money. This financing system helps families and businesses pay for their equipment in several installments, usually daily or weekly, over a period of one to two years. Once the full payment has been made, the product is permanently unlocked, offering free solar power for the life of the system.
Thanks to this flexible payment model, many Africans - including 80% of borrowers accessing credit for the first time - can now benefit from solar energy. An opportunity that supports financial inclusion while meeting an essential need in terms of access to energy.
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