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.
  • African Development Bank (AFDB)
Status: Approved
Bank Risk Rating: U
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.
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Type(s): Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 17.92 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 537.45 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ AFDB website
Updated in EWS: 2017-09-22

Project Description
This project involves an equity investment in ECP Fund IV, a pan African private equity fund which will invest cross-sector in growth companies. Fund IV will seek to achieve significant capital appreciation through investments in high-growth companies primarily by pursuing a strategy with three core elements: (i) Identify exceptional Domestic-Facing Opportunities with a focus on companies that service basic consumer needs and/or vital business requirements; (ii) Create scale in businesses with strategic value through acquisition targets (EBITDA positive), operate in economic hub economies and the potential to become regional businesses with multi-country operations; and (iii) Secure the ability to drive change with an outright control or joint control positions with a like-minded financial investor. AfDB has been a key investor in the previous funds (Fund I in 1999, Fund II in 2006 and Fund III in 2008
Investment Description
Contact Information
NIANG Malick - PITD1 No contact details provided. ACCOUNTABILITY MECHANISM OF AfDB The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.
Bank Documents