The Spark+ Africa Fund, which is an impact investment fund focused on financing the value chains of clean and modern cooking appliances and fuels to make them available to more people across sub-Saharan Africa, has raised more than $40-million in a first close. Clean cooking businesses face many challenges, including limited access to investment capital to increase their production and distribution capacity, high-risk perception and an insufficient return profile to attract commercial investment. Spark+ directly responds to these challenges and is a key component of development finance institution the African Development Bank’s (AfDB’s) actions in the area of clean cooking.
