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Signature(s)

Amount
€ 11,503,406.77
Sector(s)
Services : € 11,503,406.77
Signature date(s)
22/12/2021 : € 3,451,022.03
22/12/2021 : € 8,052,384.74
Link to source
Data sheet

Summary sheet

Release date
25 April 2019
Status
Reference
Signed | 22/12/2021
20180670
Project name
Promoter - financial intermediary
OKAVANGO CAPITAL
ACCEPTABLE CORPORATE(S)
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 13 million (EUR 12 million)
USD 75 million (EUR 67 million)
Location
Sector(s)
Description
Objectives

The proposed operation concerns an equity participation in an impact fund aiming to generate commercial return, nature conservation and rural livelihood improvements through investments in innovative businesses in East and Southern Africa.

The proposed operation concerns an equity participation of up to USD 20m (or its EUR equivalent) in Okavango Fund L.P. (the "Fund"), an impact fund aiming to generate commercial returns, nature conservation and rural livelihood improvements by investing in small and medium-sized enterprises (SMEs) in East and Southern Africa. The Fund will target investments in the food security, climate technologies, and domestic nature tourism sectors across Kenya, Uganda, Rwanda, Tanzania and Zambia. The Fund targets to raise EUR 75m, and plans to hold a first close in Q2/Q3 2019. By contributing to private sector development and improving access to finance for SMEs, the proposed operation is in line with the priorities of the Cotonou Agreement, the EU Agenda for Change (the basis for EU's development policy) and the Joint EU-Africa Strategy. Private sector development is also a key priority in the national development strategies in several of the concerned countries. The proposed operation is expected to contribute towards a number of community, conservation and commercial Sustainable Development Goals (SDGs), notably SDG 6 "Clean water and sanitisation", SDG 8 "Decent work and economic growth", SDG 12 "Responsible consumption and production", SGD 14 "Life below water", SGD 15 "Life on land" and SGD 5 "Gender equality".

Environmental aspects
Procurement

The Bank will ensure that the project meets the social and environmental standards of the EIB and that the fund's operational guidelines provide for complete environmental and social due diligence of investee companies.

N/A

Link to source
Summary sheet
Other links

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).

Documents

Environmental and Social Data Sheet (ESDS) - OKAVANGO CAPITAL
Publication Date
25 Sep 2019
Document language
Main Topic
Lending
Document Number
86840269
Document Focus
Environmental Information
Project Number
20180670
Sector(s)
Publicly available
Download now
Other links
Summary sheet
Data sheet

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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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