Working in partnership with regulated Financial Institutions and Tier IV Financial Institutions, UECCC has put in place a facility that enables households and commercial enterprises acquire solar systems on credit.
There are two loan categories under this program;
Working in partnership with Participating Financial Institutions (PFIs), UECCC has put in place a loan programme that enables households and commercial enterprises acquire solar systems on credit.
The objective of the programme is to address the affordability barrier posed by the initial upfront cost of acquiring solar systems.
The PFIs range from regulated commercial banks and MDIs; currently (Post Bank Uganda Ltd, Opportunity Bank, Centenary Bank, BRAC Bank and UGAFODE Microfinance Ltd) to grass root-based Tier IV Financial Institutions (Savings and Credit Cooperative Organizations (SACCOs) and Microfinance Institutions). In this regard, UECCC is currently working with Tujijenge Financial Services, Hofokam Limited, EBO SACCO Limited, Buyanja SACCO Limited, Nile Microfinance Limited, Buturo Peoples’ SACCO, Sky Financial Services Limited, Soroti Teachers’ SACCO, Sebei Farmers’ SACCO, and Unique SACCO, to extend Solar Loans to households and commercial enterprises at the grassroots.
UECCC provides working capital loans through Participating Financial Institutions (PFIs) to Solar Companies. Targeted Solar Companies are those selling solar systems on Pay as you go, Pay plan and Cash business models.
Specifically, the working capital loans support the purchase/import financing of Solar Home Systems, and covers expenses relating to acquisition of stock including taxes, import dues, transport cost and clearing.
Currently the Financial Institutions pre-qualified to provide the Working Capital loans include:
