Third ECP Africa Fund (EAF 3)


Overview

  • Reference: P-Z1-HAA-018
  • Approval date: 13/12/1901
  • Start date: 01/01/2002
  • Appraisal Date: 13/06/2008
  • Status: OngoingOnGo
  • Implementing Agency: EMERGING MARKETS PARTNERSHIPS AFRICA MANAGEMENT LP
  • Location: Pan-African

Description

ECP African Fund III is a pan-African, multi-sector fund whose target endowment is USD 1 billion. The Fund will provide long term financing to African businesses, focusing primarily on the telecoms, financial, energy, natural resources and agribusiness sectors. Investments will be through equity and quasi-equity instruments.


Objectives

The objective of the Fund is tom mobilize long term risk capital for investment in Africa's strategic companies. The target sectors include Financial, telecoms, natural resources, and agribusiness.


Rationale

The proposed investment supports financial system development on the continent and provides scarce long-term funding for strategic African Companies.


Benefits

The fund will general significant development and social benefits including increased output and job creation, additional fiscal revenues, financial system development, private sector development, extension of goods and services to rural areas, and spread of international best practices.


Key contacts

NGURE Josephine Waithira - OPSD1


Costs

Finance source Amount
ADBUSD 31,849,568
Co-financierUSD 605,141,794
DeltaUSD 1,362
TotalUSD 636,990,000