Ghana: Cygnum Capital and Enabling Qapital back NewGas Cylinder Bottling
The Africa Go Green Fund and the Spark+ Africa Fund have jointly disbursed an $18.2 million facility to NewGas Cylinder Bottling.
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The Africa Go Green Fund, managed by Cygnum Capital, and the Spark+ Africa Fund, managed by Enabling Qapital, have jointly disbursed an $18.2 million senior debt facility to Ghana-based NewGas Cylinder Bottling. The syndicated loan will support investments in the engineering, construction and commissioning of NewGas’s LPG bottling plant in Tema, as well as the procurement of cylinders for distribution.
An estimated 67% of Ghana’s population continues to rely on biomass fuels such as wood and charcoal for cooking. Expanding access to liquefied petroleum gas (LPG) and promoting public awareness are seen as critical steps in accelerating the shift to cleaner fuels. In addition to health and environmental advantages, LPG is also more economical – offering around 25% cost savings compared to charcoal.
Emmanuel Egyei-Mensah, CEO of NewGas commented: “We are deeply grateful to Africa Go Green Fund and Spark+ Africa Fund for their partnership and shared vision for a cleaner, healthier, and more energy-resilient Ghana. This investment marks a major milestone in our journey to transform access to safe and affordable LPG across the country. With this facility, NewGas is not just building infrastructure – we’re building the foundation for a cleaner way of life for millions of Ghanaians. Together, we are igniting a new era of sustainable cooking and energy access.”
Laurène Aigrain, managing director of Cygnum, commented: “We are proud to back NewGas in helping 3 million households in Ghana transition to cleaner cooking fuels. Expanding LPG access is more than just a fuel switch – it’s an investment in public health, environmental sustainability, and economic affordability for families. With better infrastructure and bold action, NewGas is leading the charge for a sustainable energy future in Ghana.”
Brian McConnell, vice president for the Africa region at Enabling Qapital, commented: “We are pleased to support NewGas, a leader in expanding consumer access to LPG in Ghana. Our funding will expand access to a high-quality, cleaner and more efficient cooking option for clients under the cylinder recirculation model.”
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