Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Status Update: October 31st 2025

ACE has been a Kiva Partner since 2015. Over the 10 years ACE's lending program grew from just lending in Lesotho to the addition of Cambodia, Uganda and Kenya. Over that period ACE has posted 14,695 loans with $2,316,925 raised. ACE's credit line with Kiva was paused on 1/8/2024 as an expected equity investment and bridge financing collapsed amidst increased delinquency by ACE on the Kiva platform. ACE was approached for write offs in May 2025 during Kiva’s semi annual default process but requested the loans be exempted so that they can try and collect as much as they can in a final collection drive. ACE and Kiva put a lot of effort into collecting and figuring out how to repay Kiva lenders but it was to no avail as  ACE NL the parent entity was declared bankrupt by the Amsterdam court on 9th September 2025. The ACE CEO formally requested the write off of outstanding loans in a letter sent via email on October 7th 2025. Kiva is currently going through the process of writing off outstanding loans and closing the partnership with ACE. ACE had the below message to share with lenders.

“Dear Kiva Lenders,

After nearly two years of sustained efforts to recover this loan, ACE has made the difficult decision to formally write it off. Despite our continued engagement and commitment throughout this period, it has become clear that these borrowers will not be able to fulfil their repayment obligations.

While this outcome is regrettable, we take some comfort in knowing that your contributions have remained with the end-users of the stoves. These households continue to benefit from the improved health, economic, and environmental outcomes that the stoves provide. In effect, your loan has become a lasting contribution to some of the most vulnerable communities we collectively sought to support.

We wish to express our sincere gratitude for your understanding and ongoing support of ACE’s mission. Your partnership continues to have a meaningful and positive impact where it is needed most.

With appreciation,

The ACE Team”

Status Update: August 15, 2018

Kiva granted ACE a grace period on payments owed to Kiva lenders since they were not allowed to fundraise between April and July due to high delinquency. ACE has remained in contact with Kiva as they worked to improve their credit processes and has been allowed to resume fundraising.

Partner Description:

African Clean Energy (ACE) is a family-owned social enterprise, which manufactures and sells innovative cookstoves in Lesotho, Uganda, and Cambodia. The company designs highly efficient cookstoves that burn smokelessly and use about 50-70% less fuel than traditional cookstoves. The solar-charged cookstoves also feature a unique USB port for charging phones and running LED lamps.

ACE cookstoves are regarded as one of the highest quality cookstoves on the market, which reduce emissions enough to yield health benefits.

A unique lending approach:

Kiva funding would allow ACE to expand its existing loan program for customers to purchase cookstoves in Lesotho, Uganda, and Cambodia.