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TLCOM TIDE AFRICA FUND

Signature(s)

Amount
€ 8,760,402.98
Sector(s)
Services : € 8,760,402.98
Signature date(s)
14/07/2017 : € 4,380,201.49
14/07/2017 : € 4,380,201.49
Link to source
Data sheet
TLCOM TIDE AFRICA FUND
Other links
Summary sheet
TLCOM TIDE AFRICA FUND

Summary sheet

Release date
1 June 2016
Status
Reference
Signed | 14/07/2017
20160092
Project name
Promoter - financial intermediary
TLCOM TIDE AFRICA FUND
SPECIAL PURPOSE ENTITY(IES)/FUND
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 10 million (EUR 12 million)
USD 100 million (EUR 116 million)
Location
Sector(s)
Description
Objectives

Equity participation in TLcom TIDE Africa Fund, a new venture capital fund managed by TLcom Capital LLP, focusing on technology opportunities in Sub-Saharan Africa (mainly Kenya, Nigeria and Ghana), at the start-up and expansion stages.

The fund aims to generate a substantial return on investment for its investors coupled with a significant developmental impact, given (i) its focus on businesses providing innovative and affordable solutions for the base of the pyramid; (ii) its potential to create quality jobs; (iii) its provision of seed and early stage financing to African companies; and (iv) its technical support to innovative businesses.

Environmental aspects
Procurement

The fund's operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.

Not applicable.

Link to source
Summary sheet
TLCOM TIDE AFRICA FUND
Other links
Data sheet
TLCOM TIDE AFRICA FUND

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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