Webinar | PAYGo Solar Accounting Brief: Shedding light on PAYGo accounting practices

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Nov 16, 15:00

Webinar | PAYGo Solar Accounting Brief: Shedding light on PAYGo accounting practices

Accounting policies play a crucial but often overlooked role in the management of any company. As a relatively new sector operating primarily in emerging markets, the PAYGo solar sector confronts this regularly. PAYGo solar companies have a challenge deciding which accounting policies they can or should use to manage their businesses and present them to the outside world. Investors in turn may find it difficult to understand what accounting standards a PAYGo company is using and how this affects its financial position or compares to its competitors. 

The proliferation of accounting practices across PAYGo firms emerged as an important topic during the PAYGo PERFORM initiative--the different practices used could produce substantial impacts on the calculation of the PERFORM KPIs, and in turn make a comparison of the KPIs across companies more difficult. To help address this, IFC Lighting Global and GOGLA commissioned MFR to produce a review of accounting practices in the PAYGo sector, with the goal of increasing awareness and transparency of the different accounting treatments used in PAYGo firms and their impact on financial reporting.  

Join us on November 16 at 3:00 pm CET where GOGLA and IFC Lighting Global will officially launch this Accounting Brief. The webinar will introduce the participants to the brief, share an overview of the accounting policies used by PAYGo solar companies, and review the impacts this can have on financial reporting and the PERFORM KPIs, using data collected from a group of PAYGo companies that devoted valuable time to share their practices. 

 

Speakers:

Lucia Spaggiari 

Business Development Director, MFR

Lucia Spaggiari 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. Between 2010 and 2015, Lucia was MFR’s Social Rating Director, in charge of the quality control of social performance and client protection assessment services. Lucia joined MFR in 2005 as Analyst, participating in 80+ assignments worldwide and acquiring an extensive field experience. Lucia holds an MSc in Economics and Management of Public Administration and International Organizations from Bocconi University (Italy). She is fluent in English, French, Spanish and Italian native speaker. 

 

 

Kevin Kennedy  

Senior Consultant Equipment Financing, International Finance Corporation

Kevin Kennedy 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. 

 

 

 

About PAYGo PERFORM 

The PAYGo PERFORM Initiative is a partnership established by IFC’s Lighting Global, CGAP, and GOGLA to develop for the PAYGo solar industry a standardized and transparent set of key performance indicators (KPIs). By adopting the KPIs, companies can track, benchmark, and improve performance while presenting a more accessible profile to investors, stimulating capital investment.  

Developed in consultation with some 600 investors, PAYGo executives, and experts in energy and financial inclusion around the world, the PAYGo PERFORM KPIs are designed to meet the needs of companies and funders (donors and investors). All PAYGo solar companies are encouraged to adopt the KPIs and work toward making them the industry standard.  

 
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