MICROFINANCE INSTITUTION
Baobab Côte d'Ivoire.
Microfinance institution in Ivory Coast financing small businesses that sell clean cooking solutions
Investment summary.
- Spark+ investment
- USD 6.4m
- Instrument
- Senior debt
- Facility type
- On-lending
- Portfolio category
- MICROFINANCE INSTITUTION
- Countries of operation
- Ivory Coast
- E&S risk classification
- FI-3
- Portfolio status
- Active
Technology and business model.
Microfinance institution
Investment narrative.
Baobab is the largest deposit-taking, regulated microfinance institution in Côte d'Ivoire, representing more than 20% of the sector's gross loan portfolio. It has a well-diversified portfolio with national coverage, operating in 13 out of 14 districts of Côte d'Ivoire. The MFI is a majority-owned subsidiary of Baobab SAS Holding Company.
The Spark+ facility will enable the MFI to scale-up its financing of liquified petroleum gas (“LPG”) and other clean cooking solutions. Specifically, Baobab Côte d'Ivoire finances SME and micro-enterprises whose core business is the distribution of LPG to households in urban and peri-urban areas. In addition, the MFI finances neighborhood kiosks that sell everyday essentials, including LPG cylinders and efficient biomass cookstoves.
Use of proceeds.
Capital for onlending to small businesses that retail clean cooking solutions.
Company.
- Registered name
- Baobab Ivory Coast