Spark+ Africa, a first-of-its-kind impact fund investing debt and equity in companies throughout the clean cooking value chain across Sub-Saharan Africa (SSA).
Spark+ Africa is a pioneering impact investment fund launched by the Clean Cooking Alliance and Enabling Qapital to channel debt and equity financing to enterprises that manufacture, distribute and finance clean cooking solutions across Sub-Saharan Africa. The Fund targets a capitalization of $70 million.
• Nearly 900 million people in sub-Saharan Africa lack modern cooking solutions and spend $34B p.a. on dirty cooking fuel
• In the past several years, urbanization and other macro factors driving market growth and facilitating transition away from harmful and increasingly price-uncompetitive fuels e.g. charcoal
• New business models also making alternatives affordable for customers and profitable to deliver for companies; decentralized biofuel distribution, pay-as-you-go (PAYGo) financing for
multiple technologies, and microcredit
• Much of the growth in urban and peri-urban settings; greater accessibility, reliability and affordability of clean cooking
Impact investment fund
focused on clean cooking solutions
70% debt, 30% quasi-equity
$6-8 million (managed by CCA)