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    Reference: 20150662
    Release date: 2 December 2015

    Promoter – Financial Intermediary

    REGIONAL MSME INVESTMENT FUND FOR SUB-SAHARAN AFRICA SA SICAV-SIF

    Location

    Description

    REGMIFA S.A - Regional MSME Investment Fund for Sub-Saharan Africa is a regional fund investing primarily in microfinance institutions based in Sub-Saharan Africa.

    Objectives

    The fund targets regulated and non-regulated microfinance institutions (MFIs), local banks and other financial institutions providing funding to micro, small and medium-sized enterprises (MSMEs) (collectively referred to as "partner lending institutions" or "PLIs") in Sub-Saharan Africa. The fund aims to increase over time the percentage of investments in smaller and less-developed PLIs, which are commonly not served by existing microfinance funders. According to the Microrate or Consultative Group to Assist the Poor (CGAP) definition of the respective tiers, for Q3/2015 the REGMIFA Tier composition by number of PLIs is respectively 43% for Tier I MFIs and 57% for Tier II MFIs. In June 2015, REGMIFA reached more than 200,000 clients in 17 Sub-Saharan African countries.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 10 million

    Total cost (Approximate amount)

    EUR 200 million

    Environmental aspects

    The fund enhances its social mission and impact objectives through the active management of its social performance by relying upon a sound environmental and social responsibility (ESR) strategy and risk management system.
    The investment manager of REGMIFA is an active member of the main industry initiatives through which it shares its market knowledge and spurs best practices, in particular in the field of client protection and social performance management. The fund also attends and sponsors conferences to promote its activities, and actively participates in initiatives such as the SMART Campaign for Client Protection, the LuxFLAG Microfinance Label and the Social Performance Task Force.

    Procurement

    N/A

    Status

    Signed - 21/07/2016

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Regional - Africa Services