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    Reference: 20170887
    Release date: 16 April 2018

    Promoter – Financial Intermediary

    APIS PARTNERS LLP

    Location

    Description

    The proposed operation concerns an equity participation of up to USD 35 million (circa EUR 29.5 million) in the APIS Growth Fund II, a private equity fund planning to make equity and quasi-equity investments in private sector enterprises active in the financial sector and related market infrastructure (payment gateways, switches, payment platforms, etc.) in Africa and Asia.

    Objectives

    Through a participation in the Fund, the EIB will support the development of an emerging manager in the field of innovative provision of financial services. The fund will provide equity financing to high growth companies active at all levels of the financial services sector, including payments, credit and savings, insurance, technology enablers and service providers and capital markets, ultimately fostering financial inclusion in Africa.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    USD 35 million (EUR 30 million)

    Total cost (Approximate amount)

    USD 400 million (EUR 342 million)

    Environmental aspects

    The Bank will ensure that the project meets the social and environmental standards of the EIB. Furthermore, the manager has developed a fully integrated Environmental, Social, Governance and Impact (ESGI) management system to assess, manage and monitor ESGI issues at all stages of the investment process.

    Procurement

    N/A

    Status

    Signed - 21/12/2018

    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