- FMO and Bix Capital are financing clean cooking solutions in Africa.
- C-Quest Capital will deploy eco-friendly cookstoves in 15 SSA countries.
The Netherlands Development Finance Corporation (FMO) is partnering with BIX Capital to establish a $10 million line of credit for C-Quest Capital (CQC). The firm plans to use the facility to provide eco-sustainable cookstoves in Africa.
The $10 million line of credit will finance the implementation of CQC’s clean cooking program. Under the program, the Ken Newcombe-led company aims to distribute eco-sustainable cookstoves to 7 million households in 15 sub-Saharan African countries, including Zambia, Malawi, Kenya, Uganda, Zimbabwe, Mozambique, Tanzania and Angola.
The CQC program, which runs through 2026, is expected to benefit 28 million Africans, an important step toward universal access to clean cooking. FMO estimates that the CQC project will reduce deforestation while avoiding 140 million tons of carbon dioxide (CO2) emissions.