Release date: 8 February 2018
Promoter – Financial Intermediary
PRIVATE ENTITY(IES)Location
Description
The operation consists of an equity participation in a closed-end private equity fund targeting investments in Small and Medium-sized Enterprises (SMEs) active in Anglophone West Africa, i.e. Nigeria, Ghana, Liberia, Sierra Leone and Gambia. The Fund is to be managed by Verod Capital Management and will have a generalist investment approach (i.e. sector agnostic).
Objectives
This operation will improve competitiveness and access to finance at favourable conditions for SMEs in target countries.
Comments
N/A
Sector(s)
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
USD 14 million (EUR 12 million)
Total cost (Approximate amount)
USD 150 million (EUR 128 million)
Environmental aspects
The fund's operational guidelines provide for environmental and social due diligence of investee companies, according to guidelines acceptable to the Bank.
Procurement
Not applicable.
Status
Signed - 29/03/2019
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).