Spark+ Provides USD 2 Million to Sumac Microfinance Bank to Grow its Clean Cooking Portfolio in Kenya
LUXEMBOURG, Sept. 13, 2022 /PRNewswire-PRWeb/ -- Spark+ Africa Fund ("Spark+" or the "Fund") has provided a 3-year, USD 2 million loan to Kenya-based Sumac Microfinance Bank ("Sumac"). Sumac is the second investment since the Fund launched in March 2022.
- Sumac Microfinance Bank is a fast-growing and profitable microfinance institution, with branches throughout Kenya that take deposits and provide consumer credit, including for clean cooking solutions.
- LUXEMBOURG, Sept. 13, 2022 /PRNewswire-PRWeb/ -- Spark+ Africa Fund ("Spark+" or the "Fund") has provided a 3-year, USD 2 million loan to Kenya-based Sumac Microfinance Bank ("Sumac").
- About clean cooking solutions: 900 million people in sub-Saharan Africa lack clean and modern energy for cooking.
- http://www.moderncooking.org
About Sumac Microfinance Bank: Sumac is a fully licensed bank regulated by the Central Bank of Kenya.