Energy 4 Impact is supporting Namibian solar distributor, Olusheno Sales & Distribution Ltd. in its bid to raise the company’s third round of funding on German debt crowdfunding platform bettervest. During the first and second rounds on the platform, Olusheno raised more than €410,000.
Olusheno looks to raise €209,400 from bettervest’s network of investors, allowing the company to purchase over 2,000 solar home systems for distribution to households in rural Namibia.
Over the past few months, 543 bettervest investors have supported the company in its pursuit to lighting up Namibia through the use of solar energy. Olushen goal is to provide 250,000 families in and around Namibia with solar energy over the next five years.
The company’s first two rounds of funding enabled it to acquire two containers worth of solar home systems and sell them to households across the country.
Olusheno solar home systems come with a solar panel, a battery that can provide energy for up to 17 hours and charge mobile devices, a small FM radio, a portable torch and LED lights that are twelve times brighter than kerosene lamps.
Energy 4 Impact has partnered with eight crowdfunding platforms as part of the Crowd Power program, funded by UK Aid, and has supported 100 crowdfunding campaigns across donation, reward, debt and equity crowdfunding. For the Olusheno campaign, E4I is providing funds to disseminate gift vouchers to new investors, registered users and existing bettervest investors. There are 150 vouchers available.