PROJECT DETAILS

• Over 85% of the African population still earns less than $5.50 per day with 40% of the population living below the poverty line. That means for them to acquire a $200 appliance, they have to save for 40 days straight without a single expense. This is practically impossible and most Africans end up saving for over one year to acquire their favorite household appliance.
• However, if you were to give them the appliance and ask them to pay $0.50 daily, over 60% of them would pay without constrains.
• Since most of these customers are unbanked or underbanked, Izzy Lipa integrates pay as you go technology either on the appliance or the customer smartphone therefore using it as collateral ensuring over 95% repayment rate.
• Our customers pay 2.5% to 15% interest per month on the household appliance enabling us to promptly pay our investors on maturity.