Funding Database
Spark+ Africa Fund – Debt
Current as of: 2025-11-13
Description
The Spark+ Africa Fund is a joint venture between the fund's manager, Enabling Qapital (EQ), and the fund’s technical assistance partner, Stichting Modern Cooking (SMC). Spark+ Africa Fund invests debt and mezzanine capital in companies at the early stage of growth across Africa, excluding pre-revenue start-ups. The fund invests in designers, manufacturers, distributors and retailers of cooking solutions. The fund will also invest in businesses that support the adoption of clean and modern cooking energy solutions, such as micro-finance institutions, multi-product last mile distributors and mini-grid operators. Ticket sizes range from $500,000 to $7 million for companies that have commercialised their products or services and have traction in their markets.
Instrument Type
Debt
Type of loans provided
Senior debt
Mezzanine debt (defined here as convertible debt)
Project finance
Quasi-equity
Working capital
Inventory finance
Mezzanine debt (defined here as convertible debt)
Project finance
Quasi-equity
Working capital
Inventory finance
Ticket sizes per transaction (EUR)
500,000 - 1 million
1 million - 3 million
3 million - 10 million
1 million - 3 million
3 million - 10 million
Currencies used
US Dollars
Local currencies
Local currencies
Eligible market segments
Mini-grids
Energy efficiency
Clean cooking
Energy efficiency
Clean cooking
Special requirements pertaining to gender, diversity and local content
No specific requirements expected from investees
Technical assistance
The fund’s portfolio companies benefit from multiple sources of complementary Technical Assistance (“TA”) via its TA partners Stichting Modern Cooking and the Clean Cooking Alliance, an initiative of the United Nations Foundation.
Eligible regions under GET.invest mandate
Central Africa
East Africa
Southern Africa
West Africa
East Africa
Southern Africa
West Africa
Eligible countries under GET.invest mandate
Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville)
Congo (Democratic Republic)
Côte d'Ivoire
Djibouti
Equatorial Guinea
Eritrea
Eswatini
Ethiopia
Gabon
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome and Principe
Senegal
Sierra Leone
Somalia
South Africa
South Sudan
Sudan
Tanzania
The Gambia
Togo
Uganda
Zambia
Zimbabwe
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville)
Congo (Democratic Republic)
Côte d'Ivoire
Djibouti
Equatorial Guinea
Eritrea
Eswatini
Ethiopia
Gabon
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome and Principe
Senegal
Sierra Leone
Somalia
South Africa
South Sudan
Sudan
Tanzania
The Gambia
Togo
Uganda
Zambia
Zimbabwe
Examples of past investments
Instrument Capitalisers
African Development Bank’s Sustainable Energy Fund for Africa (SEFA)
Denmark’s Investment Fund for Developing Countries (IFU)
Belgian Investment Company for Developing Countries (BIO)
European Commission
US Development Finance Corporation (DFC)
Ceniarth
Osprey Foundation
Fundacion Netri
Ashden Trust
GastroSocial Pension Fund
Baloise Group Pension Fund
Enabling Qapital
Denmark’s Investment Fund for Developing Countries (IFU)
Belgian Investment Company for Developing Countries (BIO)
European Commission
US Development Finance Corporation (DFC)
Ceniarth
Osprey Foundation
Fundacion Netri
Ashden Trust
GastroSocial Pension Fund
Baloise Group Pension Fund
Enabling Qapital
Apply
Eligibility criteria
Details of eligibility criteria are available hereApplication process
For more information on the application process, contact the fund manager hereCurrent status of instrument
ActiveContact
Go to fund websiteHeadquarters
Zurich, SwitzerlandOther branches
Geneva, SwitzerlandNairobi, Kenya
Ruggell, Liechtenstein
Luxembourg, Luxembourg
Fund manager
Enabling Qapital (EQ)
About
Enabling Qapital (EQ) is a Swiss impact investment advisory firm. Established in 2020, Enabling Qapital works to support a world where investments empower people and the planet. EQ manages the EMF Microfinance Fund and the Spark+ Africa Fund.