ELECTRICITY CONNECTION PROJECTS
Looking for diversification & development of projects implemented through microfinance polices, this project represents the first projects mainly introduced to develop the social support & services sector in the country.
Electricity Connection Projects directly targets citizens in different places around the country. Through agreement with Ministry of finance IRADA designed Mugawala product to finance such projects.
- To meet the needs of low income citizen for electricity service,
- Provide continuous electricity power in the area with low cost compared to other sources,
- Help the development of industrial & productive projects,
- Help the government on initiation of infrastructure of the country,
- Diversify the microfinance services provision,
- Increase customers base for the Company,
- Create liabilities through cash margin to be paid,
- Gain profit for the company.
- Provide continuous electricity power in targeted areas,
- Attract the surrounding areas to get the finance,
- Development of Industrial & Productive Services ,
- Encourage citizens to create new businesses as new source of income generation through other services of microfinance.
Project General Features
- Number of beneficiaries: Number of families in all targeted areas.
- Project Module: Mugawla product with group of beneficiaries, with profit margin of 12% p.a.
- Finance amount: Total project cost (Network, Meters, etc).
- Project Guarantee: Cash Deposit collected from beneficiaries as guarantee + Cheque from Beneficiaries representative (Group head, Association, etc).
- Project Duration: from 1-5 years can be changed according to project needs.
Actual Implemented Projects
Project Name & Features Al-Shibilab Village Project Eid Wad Dyab Village Project # of beneficiaries/Family 2483 660 Finance Amount SDG 11,327,040,.99 3,879,108.27 Profit % per annum 12 12 Grace period/month 4 4 Project duration/year 2.5 3 Project location Khartoum State Khartoum State
Project State & Features White Nile State Al-Gazeera State Khartoum State # of beneficiaries/Family 800 2000 625 Finance Amount SDG 5,331,745.56 10,000,000.00 3,941,060.88 Profit % per annum 12 12 12 Grace period/month 4 4 4 Project duration/year 1 to 3 1 to 3 1 to 3