Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Ethiopia
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-01-02
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Schulze Global Ethiopia Growth and Transformation Fund I
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
  • Industry and Trade
Investment Amount (USD): $ 0.12 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 0.1MLN
Converted using 2017-12-25 exchange rate.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-04-09
SCHULZE GLOBAL ETHIOPIA GROWTH AND
FMO-31640

Project Description

WHO IS OUR CLIENT

Schulze Global Ethiopia Growth and Transformation Fund I is the first private equity fund established to focus on investments in Ethiopia. The fund's preferred sectors will include agriculture and agro-processing, manufacturing, real estate, healthcare, education and eco-tourism.

FUNDING OBJECTIVE

We expect excellent impact on the Ethiopian private equity fund market, in which the fund is a first mover, since risk capital is still scarce in the SME segment. In addition to providing capital, the fund will actively support the growth strategy of the SMEs in which it invests (for example, by playing a role in the companies' boards of directors and supporting management).

WHY WE FUND THIS PROJECT

This fund is a solid opportunity to create impact in a low-income country. We will work confidently with a strong team of investment professionals based in Addis Ababa with local networks, deal experience and deep knowledge of the business and political environment in Ethiopia, backed by a sponsor with a track record in emerging markets private equity bringing the requisite operational support.

Investment Description
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.

Bank Documents