Release date: 22 July 2003
Promoter – Financial Intermediary
Aureos Capital Ltd.
One Bessborough Gardens
London SW1V 2JQ
Location
Description
Participation in three funds (East, West and Southern Africa) established for the purpose of making equity and quasi-equity investments in SMEs in Sub-Saharan Africa that demonstrate strong potential for profitable growth and regional expansion.
Objectives
The aim is to encourage private initiative in industry and service related investments. At present, growth of SMEs in Africa has been inhibited partly by the lack of private equity capital. The Aureos funds are designed to serve a useful function in not only promoting private sector growth but also in institutional capacity building and, potentially, capital markets development. The proposed operation would therefore support the creation of jobs and help to improve the general economic situation in Sub-Saharan Africa.
Sector(s)
Proposed EIB finance (Approximate amount)
up to USD 10 million
Total cost (Approximate amount)
n.a.
Environmental aspects
The documents constituting the funds provide that Aureos will apply international best business practices regarding environment, health, safety and governance.
Procurement
Standard competitive procurement guidelines to be applied.
Status
Signed - 30/06/2003
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).