Turn-key Asset Financing in Rural Zambia
Through the DGGF Seed Capital & Business Development facility (SCBD), Triple Jump invested mezzanine capital in Rent to Own (RTO), which is a turn-key asset provider to rural entrepreneurs in Zambia. It provides a broad range of assets including solar irrigation systems, refrigeration solutions and flatbed trucks.
In Zambia, over 70% of all enterprises operate in the rural areas. Many of which are small-scale agricultural entrepreneurs, struggling to grow due to lack of access to capital to acquire the equipment needed to increase their productivity. The problem is multi-faceted: neither credit providers nor equipment suppliers service the dispersed rural geographies due to high transaction costs.
RTO innovated a holistic approach to solve the market problem. It sources, finances and offers comprehensive services including last-mile distribution, installation and training on the equipment. This addresses the barriers faced by rural entrepreneurs to acquire, afford and maintain the equipment conveniently.
Leveraging TaroWorks, a mobile suite of applications, RTO is able to streamline field processes and generate real time insights from operational and performance data. The technology platform allows the company to optimise assets catalogue, acquire clients and conduct credit operations in remote locations efficiently.
The investment from SCBD facility will enable RTO to build out its supply chain, secure new sales channels and grow its financing portfolio. We are excited to fund an innovative, high-impact business model and be part of RTO’s scale up journey.