C-QUEST CAPITAL SG AFRICA HOLDINGS
Who is our client
The transaction concerns a senior debt facility to C-Quest Capital Africa (CQC-A), to finance the deployment of clean cooking stoves and other carbon programs across various jurisdictions in Sub-Saharan Africa. CQC is one of the market leaders in the sector, offering a scalable model while realizing substantial social impact.
The transaction concerns a corporate facility supporting CQC-A across its business lines, including cookstove deployment and pilot projects, as well as biofuels and cookstove manufacturing activities.
Why we fund this project
Clean cooking stoves have a substantial (social) impact, including a reduction of GHG emissions, avoided deforestation, numerous health benefits, and reduced labour burden for fuel collection. Health and labour benefits particularly affect women. The transaction fits AEF’s clean cooking strategy, as well as FMO EN’s inclusive business and green strategy.
Environmental and social rationale
E&S categorization is B. PS1, PS2 and PS3 apply (primarily related to CQC’s manufacturing activities). PS4, PS5, PS6, PS7 and PS8 don’t apply given the nature of the investment (distribution of clean cooking products).
- Signing date
- Total FMO financing
- USD 6.40 MLN
- Access to Energy Fund
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)