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    Reference: 20160092
    Release date: 1 June 2016

    Promoter – Financial Intermediary

    SPECIAL PURPOSE ENTITY(IES)/FUND

    Location

    Description

    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.

    Objectives

    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.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    USD 10 million (EUR 12 million)

    Total cost (Approximate amount)

    USD 100 million (EUR 116 million)

    Environmental aspects

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

    Procurement

    Not applicable.

    Status

    Signed - 14/07/2017

    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 - East Africa Regional - West Africa Services