MICROFINANCE INSTITUTION
UNACREP.
Microfinance institution in Benin that offers consumer credit for clean cooking solutions
Investment summary.
- Spark+ investment
- USD 0.75m
- Instrument
- Senior debt
- Facility type
- On-lending
- Portfolio category
- MICROFINANCE INSTITUTION
- Countries of operation
- Benin
- E&S risk classification
- FI-2
- Portfolio status
- Active
Technology and business model.
Consumer finance provider for clean cooking solutions
Investment narrative.
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.
Use of proceeds.
Capital for on-lending to consumers for the purchase of clean cooking solutions
Company.
- Registered name
- UNACREP