Fenix International has reached 100,000 customers, twice the amount that they had this time 12 months ago
Fenix International, a venture-bacled technology company which provides a home energy solution for customers, has reached 100,000 customers in Uganda. In 2014, Fenix celebrated its 10,000th customer while this time last year, Fenix celebrated its 50,000th customers. This demonstrates the growth of the company.
Fenix's flagship solar power system, ReadyPay Power, is generating radical access to energy in Uganda where over 80 per cent of people lack access to electricity: roughly 600,000 people in Ugandan households are now benefiting from the 1.2mn/watts of solar installed across the country.
Lyndsay Handler, CEO of Fenix International, said, “Since we started selling ReadyPay on the pay-to-own model in 2014, we’ve seen exceptional demand. I’m incredibly proud of our team, who’ve worked hard to reach last mile customers in this underserved market and relentlessly provide an exceptional customer experience.”
“Arriving at 100,000 customers showcases our fantastic growth record, but more importantly it represents more than 600,000 Ugandans who now have power and bright, safe light in their homes for the very first time. In addition, all of our off-grid customers build up a credit score, opening up new access to financial services and additional product upgrades.”
Hitting the 100,000 customer milestone brings the total of solar leases deployed by Fenix to over US$20mn. ReadyPay works by unlocking access to the battery as soon as a customer makes a micro instalment which are facilitated by MTN Mobile Money. Fenix’s unique partnership with MTN, Africa’s largest telecom, has seen customers generate over 2.5mn mobile power payments so far.
