Lendahand Ethex hits £5m milestone for solar projects in Africa

POSITIVE impact investing platform Lendahand Ethex has raised more than £5m for projects in Africa.

Lendahand Ethex, which offers crowdfunded impact investments that are eligible for inclusion in an Innovative Finance ISA (IFISA), launched several Energise Africa solar projects in April.

More than 1,000 investors have been connected to 40 projects with more than 180,000 people now able to access affordable solar energy in Uganda, Kenya, Mozambique, Tanzania, Rwanda, Burkina Faso, DR Congo, Cameroon and Senegal.

Read More: A positive impact

“We are delighted to reach this milestone,” Lisa Ashford, managing director of Lendahand Ethex, said.

“There is a growing demand for transparent, social and simple products. What’s particularly satisfying is the ability of ordinary UK investors to see the impact of their investment. We hope to build on this to help even more families in Africa and expand the reach of positive investment products in the UK.”

Investors can deposit a minimum of £50 in different projects and can choose the location and term of their investment over typically two to three years, targeting potential returns of up to six per cent a year.

Users can also access a portfolio impact tracking tool that shows detailed social, environmental and financial impact updates once repayments begin six months into their investment.

Customers logging into the website will see detailed maps showing where the solar systems have been installed, the number of households and people that have benefited as well as the extra hours of light and CO2 emissions reduced.