%204.png)
UNACREP
Microfinance institution in Benin that offers consumer credit for clean cooking solutions
TECHNOLOGY AND BUSINESS MODEL
Consumer finance provider for clean cooking solutions
COUNTRIES OF OPERATION
Benin
E&S RISK CLASSIFICATION
FI-2 - Medium Risk
SPARK+ INVESTMENT
$750,000 senior unsecured loan
USE OF PROCEEDS
Capital for on-lending to consumers for the purchase of clean cooking solutions
WEBSITE
Union Nationale Des Caisses Rurales D'Epargne Et De Pret ("UNACREP") is a regulated, second-tier cooperative network in Benin that provides centralized governance, risk, treasury and IT services to 13 affiliated rural credit unions (CREPs) operating through 65 outlets nationwide. On a consolidated basis the network serves roughly 19,000 borrowers, with a loan book heavily focused on agriculture.
​
Spark+ financing will be on-lent in two channels: (i) working-capital lines for LPG distributors (in partnership with Oryx Energies’ local network) to increase cylinder inventory and reach, and (ii) consumer loans for improved cookstoves supplied by GUEV, a local manufacturer whose products have been lab-tested for efficiency.
