Azimuth Group Corp.Status: Approved investment
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Who is our customer
Azimuth Group Corp. (active under the brand name Easy Solar) is the leading provider of off-grid energy in Sierra Leone, and is currently expanding to Liberia. The company focuses on last mile distribution of smaller sized SHS’s and lanterns on a pay-as-you-go (PAYGO) basis. Customers pay off their system and associated devices through pay plans that vary in length. Easy Solar has established a robust distribution network and cash collection system in Sierra Leone.
What is our funding objective?
The objective of the investment is to allow the company to continue its expansion both inside and outside Sierra Leone.
Why do we fund this investment?
Easy Solar provides clean and green first time energy access to households in areas with unreliable or non-existent grid connection. Increased energy access contributes to productivity of households and economic growth (lighting and charging allows work and study beyond sunset), and helps power small businesses.
What is the Environmental and Social categorization rationale?
Easy Solar is an E&S category B project. Activities come with potential limited adverse risks associated with waste management and labour conditions. IFC PS applicable: 1,2,3. IFC PS not applicable as follows: 4. Community: not triggered as no specific community issues are associated with the business model 5. Land resettlement: not triggered as no land resettlement applicable 6. Biodiversity: not triggered as no effects on biodiversity are associated with the business model 7. Indigenous people: not triggered as no specific indigenous groups are affected by the business 8. Cultural heritage: not triggered as cultural heritage risks are not applicable
|Total FMO financing
|EUR 0.01 MLN
|EUR 0.01 MLN
|USD 1.25 MLN
- Sierra Leone
- Effective date
- Total FMO financing
- USD 1.49 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)