Quick Facts

Regions:
Where the impacts of the investment may be experienced.
  • Africa
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: 2016-02-02
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.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Amount (USD): $ 11.90 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 USD 10.00 MLN
Converted using 2017-12-25 exchange rate.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-04-09
AFRICAN RIVERS FUND
FMO-45793

Project Description

WHO IS OUR CLIENT

African Rivers Fund is the second fund raised by XSML, a dutch partnership founded in 2008 which provides risk capital (mezzanine and equity linked debt products) to MSMEs in Central Africa. XSML is the only private equity fund manager present in the Democratic Republic of Congo and the Central African Republic. The African Rivers Fund is their second fund targeting a final size of USD 50 million in total commitments. The Fund has the ambition to expand in neighbouring countries such as Uganda, the Republic of Congo and Burundi.

FUNDING OBJECTIVE

The Fund's objective is to support and develop small enterprises by providing access to finance and operational support from the Fund's team.

WHY WE FUND THIS PROJECT

FMO aims to support a trusted and well-performing fund manager with a unique presence in largely underserved markets for private equity.

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