The Danish tech start-up M-PAYG is launching its “Borderless Energy” – a new initiative with the aim of radically improving the access to energy for people living below the poverty line in developing countries.
M-PAYG intends to do so with a prepaid solar energy solution that allows low-income households to access solar energy through small-scale mobile money instalments – a solution that has been tailored to fit the Base of the Pyramid (BOP)-market and delivers 100 percent renewable energy.
The idea is to break down the cost of a solar-housing-system into affordable chunks. By transferring a small amount of money through the mobile phone once a month, the solar system unlocks and gives access to clean energy to lighting, phone charging and power for other appliances.
After three years, the end-user will have complete ownership of the installation. At the same time, each payment builds up the end user’s credit score, allowing them to build up a reliable profile for getting access to financial services that would previously have been inaccessible.
M-PAYG recently opened its first East African office in Tanzania and will beginning its first roll-out by the end of this month.
M-PAYG will by hosting the launch event on October 21st from 16 – 18 on the ground floor of the CIID Building, Toldbodgade 37b, Copenhagen.
Sign up here: https://www.eventbrite.com/e/launch-borderless-energy-by-m-payg-tickets-28543620738