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: A
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: 2017-04-20
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: AfricInvest
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

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-04-09
AFRICINVEST LTD.
FMO-48035

Project Description

Founded in 1994, AfricInvest is one of the most experienced private equity investors in Africa. AfricInvest Ltd is the first fund in the firm's pan-African fund family, with a mandate to invest across all sectors, primarily in sub-Saharan Africa.
AfricInvest Ltd will invest in a diversified portfolio of SMEs and mid-market companies across Africa. The portfolio composition is expected to reflect the firm's local presence in its historical markets (Algiers, Casablanca and Tunis) with a new presence in sub-Saharan Africa (Abidjan, Lagos and Nairobi), as well as its experience in supporting entrepreneurs across a range of sectors through growth capital investments.
FMO is participating in the fund's first closing in order to show its trust and support of the fund manager to go pan-African. On the back of a proven track in generating market returns in SME investments in North Africa with due attention to ESG risk management and value creation (e.g. by means of resource efficiency), FMO is now supporting the fund manager's intention to replicate its successful business model in the rest of Africa.

Investment Description
Contact Information

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