Rafode Advances Solar Cooling-Box Loan Product for Rural Health Centres in Kenya
Rafode Ltd, a Kenyan social enterprise focused on rural finance, renewable energy and farm inputs, is reporting progress on a loan product to finance solar-powered cooling boxes for medicine transport and storage.
The initiative is being developed with continued support from FasterCapital through its EquityPilot programme. Rafode’s current focus is finalising the cooling-box lending product, integrating a new e-commerce platform and mobile app into its management information system, and preparing a pilot to test affordability for rural health centres and last-mile logistics operators.
The loan product is designed to make locally manufactured solar cooling boxes affordable for rural clinics and for transporting medicines in areas without grid power. Rafode is partnering with a local manufacturer of the cooling units and aligning financing terms with the needs of rural health centres. Once the e-commerce platform and mobile app are integrated with its MIS, they are expected to support sales, loan servicing and field operations, with pilot deployment planned once capital is secured.
Over the past four months, Rafode served 367 clients with renewable energy solutions, microloans and farm inputs, bringing its total client base to 14,943. The company has also financed more than 3,000 refugees across the Kakuma refugee camp and the Kalobeyei settlement scheme, pointing to operational experience in difficult last-mile markets.
FasterCapital’s support in this phase includes milestone planning, execution follow-up on the app and MIS integration, fundraising readiness and pitch refinement ahead of pilot funding activities, introductions to ecosystem stakeholders, and strategic guidance on market positioning and pilot design.
Hesham Zreik, Founder and CEO of FasterCapital, said the firm remains focused on helping Rafode move through its current priorities. “We’re pleased to continue supporting Rafode Ltd through EquityPilot,” he said. “Our team is focused on current execution priorities, milestone tracking, and connecting the startup with relevant ecosystem stakeholders as it advances.”
Rafode’s priorities over the next 90 days include raising pilot funding, launching a controlled pilot of cooling-box loans with partner health centres, and testing the integrated app and MIS workflows to refine pricing and operations ahead of a wider rollout.
Founded in 2014, FasterCapital describes itself as the world’s most active venture builder by number of startups supported, funds invested and capital raised, offering funding assistance, business development and technical support through programmes including EquityPilot.
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