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    Reference: 20160379
    Release date: 2 June 2016

    Promoter – Financial Intermediary

    PRIVATE ENTITY(IES)

    Location

    Description

    Equity investment in a USD 150 m fund promoting financial inclusion in Africa through equity and quasi-equity investments in small and medium-sized enterprise (SME) banks, microfinance institutions, micro-insurance and financial technology (Fintech).

    Objectives

    Thanks to its expanded presence on the African market, the fund's objective is to invest with minority positions in equity and quasi-equity, shareholder's loans, and convertible debt in regulated financial institutions. Apart from looking for competitive returns for its investors, the fund seeks to provide investees with (i) access to scarce equity funding, (ii) corporate governance (iii) compliance and reporting of environmental, social and corporate governance (ESG) performance, (iv) strategy in particular via access to capacity building.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    USD 20 million

    Total cost (Approximate amount)

    USD 150 million

    Environmental aspects

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

    Procurement

    Not applicable.

    Status

    Signed - 13/12/2017

    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 - Africa Services