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Microfinance institution in Madagascar financing the purchase of clean cooking solutions
TECHNOLOGY AND BUSINESS MODEL
Microfinance institution
COUNTRIES OF OPERATION
Madagascar
E&S RISK CLASSIFICATION
FI-3 - Low Risk
SPARK+ INVESTMENT
$1.5 million senior unsecured loan
USE OF PROCEEDS
Capital for onlending for the companies in the LPG value chain, as well as for the retail purchase of clean cooking solutions.
WEBSITE
Société d’Investissement pour la Promotion des Entreprises à Madagascar (SIPEM) is a regulated commercial bank headquartered in Antananarivo, operating 29 branches with ~415 staff and serving about 7,300 borrowers, nearly half of whom are women. Its loan book is diversified across housing, SME, tender pre-financing, microloans and asset finance.
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Spark+ financing will support portfolio growth with a dedicated clean-cooking line, starting with LPG value-chain finance in partnership with ATRIA/Vitogaz and expanding to consumer and distributor lending as the pipeline matures.
