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LAPO Microfinance Company (SL) Limited

Microfinance institution in Sierra Leone that offers consumer credit for clean cooking solutions

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TECHNOLOGY AND BUSINESS MODEL

Consumer finance provider for clean cooking solutions

COUNTRIES OF OPERATION

Sierra Leone

E&S RISK CLASSIFICATION

FI-3 - Low Risk

SPARK+ INVESTMENT

$825,000 senior unsecured debt investment(s)

USE OF PROCEEDS

Capital for on-lending to consumers for the purchase of clean cooking solutions  

WEBSITE

LAPO Microfinance Company (SL) Limited is a deposit-taking microfinance institution in Sierra Leone with nationwide reach through 36 branches. It serves low-income micro and small businesses across urban and rural areas, with a strong focus on women, and benefits from affiliation with the broader LAPO group, leveraging governance, technical support, and experienced managers from its Nigerian sister company. As of July 2023, LAPO SL reported roughly 18,700 active borrowers and 102,000 savers, and has been rolling out an energy-finance line that includes clean-cooking and solar products.

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Spark+ financing will be utilized to fund working capital across LAPO SL’s loan book including expanding clean cooking finance for LPG cylinders/cookers and improved stoves. LAPO SL aims to finance several thousand clean cooking customers and deepen outreach to women borrowers.

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