MICROFINANCE INSTITUTION
LAPO Microfinance Sierra Leone.
Microfinance institution in Sierra Leone that offers consumer credit for clean cooking solutions
Investment summary.
- Spark+ investment
- USD 0.82m
- Instrument
- Senior debt
- Facility type
- On-lending
- Portfolio category
- MICROFINANCE INSTITUTION
- Countries of operation
- Sierra Leone
- E&S risk classification
- FI-3
- Portfolio status
- Active
Technology and business model.
Consumer finance provider for clean cooking solutions
Investment narrative.
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.
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.
Use of proceeds.
Capital for on-lending to consumers for the purchase of clean cooking solutions
Company.
- Registered name
- LAPO Microfinance Company (SL) Limited