Quick Facts

Where the impacts of the investment may be experienced.
  • Africa
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: 2016-03-21
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: Bank Of Africa
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Amount (USD): $ 3.34 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 2.81 MLN
Converted using 2017-12-25 exchange rate.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-12-25
B.O.A. Group S.A.

Project Description
WHO IS OUR CLIENT The Bank Of Africa (B.O.A) Group was set up in 1982, and is since 2010 majority-owned by the Moroccan banking group, BMCE Bank. FMO has been a shareholder in B.O.A. Group since 2003. FMO has participated in last yeara€™s capital increase of the B.O.A. Group. FUNDING OBJECTIVE FMO is investing an additional USD 5.3 million of equity in the general growth of the group. WHY WE FUND THIS PROJECT The B.O.A. Group is one of the few pan-African universal banking group with presence in 17 countries in Africa. In line with FMOa€™s general strategy to empower entrepreneurs, the B.O.A. Group plays an important role in strengthening local businesses and has a strong footprint in Low Income Countries. To play a more meaningful role in the Group, FMO is now further increasing its stake in the Holding.
Investment Description
Contact Information
FMO South Africa +27 11 507 2500 joburg-office@fmo.nl
Bank Documents