Azimuth Group Corp. (FMO-58442)

Countries
  • Sierra Leone
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 24, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Azimuth Group Corp.
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 1.49 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 1.49 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Sep 3, 2020


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Project Description

According to bank provided information, the objective of the investment is to allow the company to continue its expansion both inside and outside Sierra Leone.

Easy Solar provides clean and green first time energy access to households in areas with unreliable or non-existent grid connection.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

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.

Contact Information

*Contact information not provided at the time of disclosure*

ACCESS TO INFORMATION

As part of FMOÕs Òex-ante disclosureÓ (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism