Sun King reaches $1 billion in loans for solar panel installations in Africa

Sun King, a company featured in theOdyssey Vintage Altaroc Odyssey , has a strong presence in Africa, where many regions lack access to electricity, and residents still rely on costly and polluting energy sources such as kerosene for lighting and diesel for electricity generation. These expenses account for an average of 5 to 10 percent of household income, often at the expense of their health. At the same time, approximately 350 million adults in Africa do not have access to a bank account, which is a major barrier to purchasing 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.