Wessex Social Ventures via their eco system in Uganda will identify, validate the identities and support one team of UN Refugees to build a successful micro business using their Right Lights Business in a Box Solution. This loan will help 3-5 UN Registered Refugees access a Business in a Box Solution.
The Right Light Business in a Box Solution helps the local off the grid rural communities in Uganda to access solar lamps. These communities usually live off less than $5 a day. They rent these lamps from the micro business in the evenings and use it as a light source. This helps them replace kerosene oil based lamps with solar lamps.
The Micro Loan
The Right Light Business in a Box Solution costs approx £900. We are asking for £1,000 to cover any unforeseen concerns we haven’t planned for. For example, FX market volatility. Brexit concerns are a risk for all Sterling based products. The loan is repayable over 1 year 6 months minus the FX rate charges, transfer charges and Inflation. We will not be charging any fee for this loan. Repayments will be made in quarterly / half yearly instalments depending on which has a lower transfer charge and administration costs for the local NGO’s.
We are limited to 10 Lenders for compliance purposes on this campaign. So, if you could kindly plan for £100 per Lender that will evenly spread the total loan across all the 10 Lenders. If anyone would like to invest higher amounts please let us know we can look to accommodate you outside this one off campaign.
The local communities benefit because:
- Improved respiratory health in homes using solar lamps.
- Reduction in house fires.
- Night time visibility reduces violent attacks on women carrying the portable lamps.
- Affordable lighting priced lower than kerosene, increasing disposable income.
- Safe lighting for children to study at night.
- Improved light source and therefore vision.
- Limited risk as the lamps are owned by the micro-enterprise.
- No risk of mosquito nets catching fire from the kerosene, reducing the risk of mosquito related diseases such as malaria.
- A livelihood for the employees of the micro-enterprise.
- A scalable business owned by community members.
- Local and regional economic development from more educated young people.
- Local businesses open later, stimulating the local economy.
These UN Sustainable Development Goals will be addressed by this loan -
- 1. No Poverty
- 2. Zero Hunger
- 3. Good Health
- 4. Quality Education
- 5. Gender Equality
- 8. Good Jobs and Economic Growth
- 10.Reduced Inequalities
What’s in it for us?
It will help us track the flow of funds from the point of conception - this small campaign - to the point of consumption - the lives of the UN Refugees.
In other words, it helps us understand where the bottlenecks are in the flow of money. It will helps us identify any compliance concerns we may have missed. It allow us to understand the timelines and the capacity of loans this process can cope with.
So, by supporting us organise this loan you will be helping UN Registered Refugee earn a living, use entrepreneurship as mechanism to take ownership of their own lives, support local communities who host the refugees. Help to address UN Sustainable Development Goals. And, finally, helps us organise this support in a scalable way.
The small print stuff now
- You will receive regular updates on how the loan is making an impact. We intend to send over updates as the UN Refugees pass through each phase.
- We will over time try to make the relationship a direct one between you and the beneficiaries of the loan. We just aren’t there yet.
- This is a low risk solution so there is a high probability the loan will be paid back - please account for some variation given this is the first time we are doing this.
Payments are no longer being accepted. Funds for one Business in a Box are being sent out to help 3-5 Refugees access Entrepreneurship.
We are writing up a blog post to highlight the progress we have made on this project and the new approach we are taking. Thank you for taking the time to go over our request for support.