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Signature(s)

Amount
€ 47,717,647.06
Sector(s)
Services : € 47,717,647.06
Signature date(s)
17/02/2023 : € 47,717,647.06
Link to source
Data sheet
Other links
Summary sheet

Summary sheet

Release date
26 April 2022
Status
Reference
Signed | 17/02/2023
20220053
Project name
Promoter - financial intermediary
ADENIA CAPITAL V
ADENIA PARTNERS LTD
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 51 million (EUR 51 million)
USD 400 million (EUR 399 million)
Location
Sector(s)
Description
Objectives

Equity participation in Adenia Capital V, a generalist, closed-ended private equity fund focusing on small and medium-sized enterprises (SMEs) in sub-Saharan Africa.

The fund aims to provide equity and quasi-equity support to private companies (SMEs and mid-market companies) active in Africa (with a focus on sub-Saharan Africa). The fund will support the achievement of the sustainable development goals (SDGs), in particular SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), and SDG 9 (Industry, Innovation and Infrastructure). The fund has a target size of approximately USD 400 million.

Additionality and Impact


The operation concerns an investment in Adenia Capital V, a USD 400m investment fund targeting companies in Africa.

This operation is in line with the European Commission's priority to promote Jobs and sustainable and inclusive growth. It is expected to contribute to EIB objective outside the EU for private sector development and job creation. In terms of jobs, the Fund is expected to not only support job creation, but also to improve employees' wellbeing, increase career developmental opportunities and boost job satisfaction.

The EIB commitment is expected to trigger the commitment from other investors and to have a strong catalytic effect. With EIB commitment, the Fund's terms are expected to be negotiated in line with best market practice standards.


Environmental aspects
Procurement

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

The fund is expected to comply with EIB's procurement guidelines.

Comments

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).

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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.

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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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