Solar Energy Consulting and Construction Company (“SECCCO”) has been operating in the alternative energy and construction industry in Puntland since January 2013. SECCCO is headquartered in Garowe and has a second location in Bosaso. The company is a solar energy installer and manufacturer of solar street lights, metal battery boxes, solar frames, irrigation pump frames, and piping systems. SECCCO was looking for an opportunity to purchase raw materials in larger quantities in order to reduce operational expenses and purchase bulk orders at lower rates.
After securing financing through Shuraako, SECCCO purchased a one-year supply of solar panels at a discounted rate resulting in 18 percent total savings. This investment has allowed SECCCO to reduce its annual raw materials spending considerably, allowing the company to offer a better retail rate to its Somali customers. After the successful repayment of its first loan, SECCCO was able to secure additional financing to support the company in procuring additional renewable energy equipment and establish a new facility in Mogadishu