Release date: 2 June 2016
Promoter – Financial Intermediary
PRIVATE ENTITY(IES)Location
Description
Equity investment in a USD 150 m fund promoting financial inclusion in Africa through equity and quasi-equity investments in small and medium-sized enterprise (SME) banks, microfinance institutions, micro-insurance and financial technology (Fintech).
Objectives
Thanks to its expanded presence on the African market, the fund's objective is to invest with minority positions in equity and quasi-equity, shareholder's loans, and convertible debt in regulated financial institutions. Apart from looking for competitive returns for its investors, the fund seeks to provide investees with (i) access to scarce equity funding, (ii) corporate governance (iii) compliance and reporting of environmental, social and corporate governance (ESG) performance, (iv) strategy in particular via access to capacity building.
Sector(s)
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
USD 20 million
Total cost (Approximate amount)
USD 150 million
Environmental aspects
The fund's operational guidelines will provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.
Procurement
Not applicable.
Status
Signed - 13/12/2017
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).