Introducing the PAYGo PERFORM Key Performance Indicators
A decade after the lights went on for the first PAYGo customers, the sector finds itself at a crossroads. Explosive growth and an incredible influx of capital have transformed what was once a handful of start-ups into a crowded and rapidly maturing global industry. As PAYGo continues its transition from start-up to maturity, CGAP, GOGLA and IFC Lighting Global have joined forces with the off-grid solar industry to develop a set of key performance indicators (KPIs) that promote transparency and help companies to benchmark and improve their performance. The PAYGo Performance, Reporting and Measurement (PERFORM) KPIs also allow the industry to present a more accessible profile to investors.
In this webinar, participants learned about the soon-to-be-released PERFORM KPIs from PERFORM partners and industry leaders. The webinar explores their importance to the long-term viability of the PAYGo industry, and offer insights into how they can be used in your day-to-day reporting and decision-making. It also offers a preview of the soon-to-be-released technical guide to the PERFORM KPIs.
Participants heard from companies and investors who are leading the charge to promote their adoption. The webinar engaged the PERFORM partners, companies and investors as they seek to better understand the work that went into their development, how the KPIs are already being used to benchmark and monitor company performance, and what these KPIs mean for the future of the PAYGo industry.
About PAYGo PERFORM
The PAYGo PERFORM Initiative is a partnership established by IFC’s Lighting Global Group, CGAP, and GOGLA to lead an inclusive process for the development of key performance indicators (KPIs) for the off-grid solar PAYGo industry. The objective of PAYGo PERFORM is to develop a set of metrics and reporting standards using feedback from investors, PAYGo companies, technical experts, and other relevant stakeholders that can serve as a “common language” to evaluate PAYGo companies and provide more transparency to the sector. From an investor’s perspective, the metrics and standards will be crucial to provide transparency and an easier way to measure operational and financial performance. From a PAYGo company’s perspective, having clear and effective reporting metrics and standards will be helpful to attract more capital and run diagnostics. They will also allow for the development of industry benchmarks.
About this Webinar
Roan is a project manager within the Performance and Investment team at GOGLA. She promotes adoption and harmonization of new standards and metrics to strengthen company performance and unlock additional financing through programs like PAYGo PERFORM. Roan also contributes to enhancing market insights, particularly around portfolio quality and unit economics. She promotes knowledge exchange on new or lesser-known financial instruments and services, and company performance and profitability.
Thebean is the director of finance and accounting at Oolu Solar. Thebean began his career with HSBC working with SME financing and OTC derivatives before moving to a London-based merchant bank where he advised technology sector startups and SME’s on strategy, M&A and corporate finance. Previous to Oolu, Thebean led advisory services at a Senegalese family office and managed finance and business development for portfolio companies.
Nicky leads CGAP’s PAYGo PERFORM work, developing metrics and reporting standards for the PAYGo solar industry, and consults on other engagements at the intersection of fintech and financial inclusion. Nicky has over seventeen years of experience across private equity, venture capital, impact investing, and investment banking in the U.S. and in Africa. He lives in Johannesburg where he is a partner at Gluon, a private investment company.
Kevin is a consultant and entrepreneur in equipment financing. Having started his career in leasing in mature markets he has since shifted his focus to PAYGO solar and the financing of income-generating equipment. Together with partners, he has established solar financing companies in Uganda and Mozambique, and currently supports both the World Bank and IFC as a consultant.
Geoffrey is an investment director and head of the Energy Access and Efficiency team at CDC Group providing debt financing solutions for decentralised energy and resource efficiency. Geoffrey is engaged in cross-cutting initiatives to promote the sustainable development of the energy access sector. Prior to joining CDC, Geoffrey was chief investment officer at the African Development Bank.
Sarah is the vice president of risk at Greenlight Planet. She has more than 12 years of international and Indigenous experience in the financial and renewable energy sectors and is an expert in Credit Risk Management and Analysis. Sarah has established several risk management frameworks and credit risk strategies covering risk appetite, credit risk management process, loan product development and collections, and Risk-Based pricing and IFRS 9 Provisioning.
Tobias is currently partner and CFO at Persistent. He has held several interim CFO and board positions at portfolio companies and is an active contributor to thought-leadership initiatives in the off-grid energy space. Previously, Tobias worked in strategy & IT consulting at Accenture. He lived and worked in Africa for over 10 years.
Lucia is business development director at MFR, a rating agency specialized in inclusive finance. Lucia is member of the Management Team and is responsible for the development of new partnerships, new services, products and delivery channels. She manages the ATLAS data platform, the relationships with several investors and industry initiatives. She also coordinates research and publications activities.
Russell leads IFC’s Energy Access Advisory business where he works with the private sector to mobilize commercial investment to expand energy access for the underserved. He is an innovator in the field of sustainable energy market development with over 25 years of experience in the sector. His innovative work with commercial banks catalyzed IFC’s $1 billion sustainable energy finance business. Russel established the World Bank Group’s Lighting Africa and Lighting Global program. Prior to joining IFC in 2000, he was President of the International Institute for Energy Conservation.