Transaction

BURN Manufacturing - AfDB SEFA Burn Electric Cooking Expansion Program (Kenya, Uganda, Zambia)

Terms

Not ranked: Announced, not closed
Announced: 22 Jul 2025
Instrument: Debt
Amount: US$10.0mReported as US$10 million SPV (US$4m SEFA grant, US$5m Spark+ senior loan, US$1m BURN equity)
Source: allafrica.com

Project developer: BURN Manufacturing - Burn Electric Cooking Expansion Program (BEEP)
Country: Kenya, Uganda, Zambia
Capital providers: Capital providers and the amount counted for each
Party Role Amount Basis
Spark+ Africa Fund Lender Not credited Not ranked
African Development Bank Grantor Not credited Not ranked

Capital providers and the amount counted for each
Party	Role	Amount	Basis
Spark+ Africa Fund	Lender	Not credited	Not ranked
African Development Bank	Grantor	Not credited	Not ranked

: The African Development Bank's Sustainable Energy Fund for Africa (SEFA) is to support the Burn Electric Cooking Expansion Program (BEEP), which deploys 115,000 induction cookers in Kenya, Uganda and Zambia through a special purpose vehicle that owns the credits. The SPV is to be capitalised with a US$4 million SEFA reimbursable grant, a US$5 million senior loan from the Spark+ Africa Fund and US$1 million of BURN equity. The AfDB text says SEFA 'will fund' the programme and does not state a signing or approval date, so the deal is recorded as announced, not closed.

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