Maisha Bora Sacco Announces Deal for Low-Interest Financing for Startimes Solar Systems

• Startimes and Maisha Bora Sacco have signed a Memorandum of Understanding (MOU) to distribute solar panels to Sacco members, promoting green energy solutions
• Startimes CEO Carter Luo emphasized that the initiative reflects the company’s commitment to making green energy accessible and contributing to environmental conservation
• Maisha Bora Sacco CEO Gregory Siro highlighted the benefits of the partnership, including improving livelihoods and offering flexible, affordable credit options for solar products

Elijah Ntongai, a journalist at TUKO.co.ke, has more than three years of financial, business, and technology research and reporting expertise, providing insights into Kenyan and global trends.

Startimes has signed a Memorandum of Understanding (MOU) with Maisha Bora Sacco to facilitate the distribution of solar panels to Sacco members as part of its commitment to promoting green energy solutions.

The signing ceremony took place at Startimes offices and was attended by key officials, including Startimes CEO Carter Luo, Director of Energy Solar System Sam Deng, Solar System Partnership Business Manager Grace Njenga, Maisha Bora CEO Gregory Siro, and Isabel Naibei, credit Supervisor at Maisha Bora Sacco among others.

Why Maisha Bora Sacco signed MOU

This initiative aims to provide Maisha Bora Sacco members with low-interest financing options to acquire solar systems, helping them transition to sustainable energy sources.

Speaking during the signing ceremony, Startimes CEO Carter Luo said that the Sacco members will acquire the Startimes solar systems at subsidized prices, noting that the new venture is mostly aimed at promoting green energy in the Country as part of conserving the environment.

“This partnership reflects our dedication to making green energy accessible to all Kenyans. By empowering Sacco members with affordable solar solutions, we can contribute to a cleaner and more sustainable future,” said Luo.

Benefitting Sacco members

Gregory Siro, CEO of Maisha Bora Sacco, emphasized the benefits the partnership will bring to their members, noting that by providing affordable credit options for solar products, they will enable their members to transition to green energy solutions.

He added that the new partnership will greatly contribute to improving livelihoods and creating a sustainable future, adding that they have negotiated affordable and flexible prices for the members.

“We recognize the growing demand for solar energy, and through this partnership, we will provide our members with the financial support they need to adopt these innovative solutions,” remarked Siro.

Sam Deng, Director of Energy Solar Systems at StarTimes, highlighted the importance of this initiative, noting that it will greatly contribute to access to affordable and clean energy and that StarTimes will continue empowering Kenyans to invest in their future while contributing to environmental conservation.

Grace Njenga, StarTimes Partnership Business Manager, said the signed partnership will not only increase solar adoption but also create a ripple effect, encouraging more organizations to invest in green technologies.

She noted that by working together with Maisha Bora Sacco, they can help more people transition to cleaner and reliable energy sources that are not only beneficial for the environment but also economically viable.

This initiative coincides with a notable surge in Kenya’s solar power generation capacity, which reached a new record last year following the commissioning of the 40-megawatt (MW) Alten Kenya solar farms plant in Kesses, Uasin Gishu.

Startimes signs deal with Mwalimu Sacco

Earlier, TUKO.co.ke reported that Startimes partnered with Mwalimu Sacco to provide financing for members to purchase solar systems, making renewable energy more accessible.

Startimes Director of Solar, Sam Deng, highlighted the significance of the partnership as a step towards diversifying into green energy.

The partnership will empower Mwalimu Sacco members, particularly those in areas with limited grid access, by offering affordable alternatives through solar technology.

Source: TUKO.co.ke