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| Region | Africa | Country | Ghana |
| Business | Efficient cookstoves | E+Co Investment | US$270,000 |
| First Investment | 2006 | Entrepreneur | Suraj Wahab & Ernest Kyei |
Toyola manufactures and sells energy efficient cook stoves in urban and rural Ghana. The stoves use standard charcoal but are 40% more efficient than the traditional stoves used in the region. This greatly reduces the amount of charcoal necessary to cook, which also reduces carbon dioxide emissions and saves family’s money. To date, Toyola has provided this cleaner energy product to 35,000 households, offset 15,000 tons of carbon dioxide emissions and employed over 200 employees.
Ghana is the largest per capita consumer of charcoal in West Africa. Cooking with charcoal contributes to carbon dioxide emissions and indoor air pollution. Many Ghanaians cannot afford to purchase a gas stove for their homes, making the switch to cleaner energy difficult. The Toyola stove functions much the same as the traditional stove making it a practical and cleaner alternative.
In early 2006, E+Co in conjunction with local partners assisted in the development of Toyola’s business plan. The team developed a mechanism to employ the informal sector in both the manufacturing and sales of the new stoves. This strategy allowed Toyola to corner the market by employing most of its potential competitors and selling widely. The plan also included a strategy to take the stoves to the people – a mobile stove delivery system. To assist with the implementation of the business, E+Co invested US$70,000 for the purchase of a truck and supplies. The business expanded rapidly selling 20,000 stoves in one year. As a result, E+Co is working with the entrepreneurs to further expand production and distribution and has made two additional loans to Toyola each in the amount of US$100,000.