Publication - Navigating the Complexities of End-User Financing with Futurepump: An Innovator Case Study
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Title
Navigating the Complexities of End-User Financing with Futurepump: An Innovator Case Study
Publisher
Powering Agriculture
Author
Jeff Engell, Christina Tamer
Published in
March 2020
Abstract
Perhaps the most critical part of any company’s success is having customers who not only want the services and products it offers but are also able to pay for them. Affordability is a particularly thorny challenge for the innovators supported by Powering Agriculture: An Energy Grand Challenge, whose end-users are typically smallholder farmers in developing countries. These customers often lack the cash to pay for products and services or lack access to bank credit or loans due to structural inefficiencies in the markets where they live. For companies operating in these environments, navigating the complexities of end-user financing may ultimately determine their failure or success in the market.
Since October 2015, Powering Agriculture has been supporting Futurepump’s testing of innovative financing options in Kenya to help bring solar irrigation pumps to the lowest-income smallholder farmers. Futurepump has investigated and employed several finance options – both external and internal – in the East African market during this period. The lessons it has gleaned from this experience may help future innovators seeking solutions for end-user financing of productive use assets in emerging markets.
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