%204.png)
SUMAC MICROFINANCE BANK
Fast-growing and profitable microfinance institution in Kenya that offers consumer credit for clean cooking solutions
TECHNOLOGY AND BUSINESS MODEL
Consumer finance provider for clean cooking solutions
COUNTRIES OF OPERATION
Kenya
E&S RISK CLASSIFICATION
FI-3 - Low Risk
SPARK+ INVESTMENT
$2 million senior unsecured debt investment
USE OF PROCEEDS
Capital for on-lending to consumers for the purchase of clean cooking solutions
WEBSITE
Sumac Microfinance Bank is a regulated deposit-taking microfinance bank in Kenya focused on MSME lending, agriculture, and asset finance. As of late 2021, Sumac served ~2.6k borrowers and ~13k savers across five branches, and had formalized a clean-energy lending line, the Kawi Loan, to finance improved cookstoves, biodigesters, and related equipment in partnership with manufacturers including Burn Manufacturing and Sistema.bio.
​
Spark+ financing is focused on scaling Sumac’s clean-cooking portfolio under the Kawi Loan, expanding partnerships and, on-lending for fuel-efficient cookstoves and biodigesters. The facility is intended to accelerate access to modern cooking solutions for households and micro-enterprises that cannot afford upfront costs, while anchoring a commercially sustainable product within a regulated financial institution.
