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M38 sells liquefied petroleum gas (LPG) in Accra, Ghana. A woman-owned business that began as an informal door-to-door supply service, M38 now consists of an LPG service station serving over 1,200 households.  

The Need

Firewood and charcoal are the primary sources of cooking fuel in Ghana. Although LPG, a cleaner and more convenient energy source, is preferred to traditional fuel sources, there are only a few LPG stations serving large numbers of people. Unfortunately, LPG investments are seen as risky business by traditional lenders making it difficult to establish new businesses in this sector. 

E+Co Value Added

After having been turned down by three banks, Clara Mankata of M38 came to E+Co in 2004 looking for a loan. E+Co, in conjunction with the Africa Rural Energy Enterprise Development Program and local partner KITE, worked with Clara to create a viable business plan and made a US$59,000 investment in her business. She repaid her loan one year later. In 2007, E+Co made a second investment in M38 to support the company’s growth plans.