Project Summary Note

21-Jun-2019

Project Summary Note - Kenya Mortgage Refinance Company (KMRC) – Kenya

Provision of a long-term facility of up to EUR 90mln in the form of a sovereign loan to the Government of Kenya (“GoK”) for on-lending to Kenya Mortgage Refinance Company (KMRC) as a Senior Loan of up to EUR 72 mln and a Subordinated loan of up to EUR 18 mln.The funds from the AfDB will support the GoK endeavors to operationalize KMRC. KMRC will engage in mortgage refinancing through local financial institutions including commercial banks, and Savings and Credit Cooperative Organizations (SACCOS) altogether referred to as Primary Mortgage Lenders (PMLs). It will finance itself in the medium...
13-Jun-2019

Multinational - Strengthening transboundary cooperation and integrated natural resources management in the Songwe river basin - Project Summary

The Songwe River Basin(SRB)covers an estimated area of 4,200 km2 and is part of the wider Zambezi River basin. The river forms part of the formal border between Malawi and mainland Tanzania.Increasing competition for space, water and natural resources is degrading the Songwe River Basin. Both riparian countries ratified in 2017 the convention creating the Songwe River Basin Commission (SRBC) to sustainably manage the basin natural resources and implement the Songwe River Basin Development Programme (SRBDP). The ‘Strengthening transboundary cooperation and integrated natural resource...
12-Jun-2019

Project Summary Note - African Agriculture Impact Investment Ltd

The project aims to leverage the AfDB’s Partial Credit Guarantee (PCG) to catalyze the deployment of international pension and asset management funds (the Pension Funds) into Africa’s agriculture sector in line with the Bank’s Feed Africa strategic priority. This will be achieved by using the PCG to back agri-linked notes (the Notes) of up to EUR 100M to be issued by a structured finance company. The proceeds of the Notes together with two other pools of assets worth about USD 75M will be pooled in a Special Purpose Vehicle (SPV) to create a capital pool for ultimate investment in a...
11-Jun-2019

Project Summary Note - Adiwale fund I – Multinational

Equity investment in Adiwale Fund1  (“AF1”or“theFund”), a first generation private equity fund which will invest in high growth potential SMEs in Francophone West Africa(FWA). The Fund will target three key sectors:consumers (consumer goods & services,education and health); business services( transport, logistics, IT, internet services, construction-related services)and manufacturing (pharmaceuticals, agri-processing, chemicals, etc.).AF1’s geographical focus will be on a hand ful of countries where economic prospects, and the Fund’s networks,result in opportunities. Primary target...
11-Jun-2019

Malawi - Additional financing : sustainable rural water and sanitation infrastructure for improved health and livelihoods project - Project Summary

The African Development Fund (ADF), Nigeria Trust Fund (NTF)and Rural Water Supply and Sanitation Initiative ( RWSSI ) Trust Fund financing totalling UA 23.1million to Malawi to finance the Sustainable Rural Water and Sanitation Infrastructure for Improved Health and Livelihoods Project ( SRWSIHLP ) was approved on 30 th April 2014 and the Loan and Grant Protocol Agreements signed on 21 st October 2014. In support of improving the climate resilience of the project, on 13 th February 2017 the Global Environmental Facility (GEF) approved Least Developed Country Fund (LDCF)grant with the aim to...
23-May-2019

Project Summary Note - Verod Capital Growth Fund III

Project Description: Verod Capital Growth Fund III will make private equity investments in middle market companies in Anglophone West Africa including Nigeria, Ghana, Liberia, Sierra Leone and the Gambia.
21-May-2019

Project Summary Note - Kenya Mortgage Refinance Company (KMRC) – Kenya

Provision of a long-term facility of up to EUR 90 mln in the form of a sovereign loan to the Government of Kenya (“GoK”) for on-lending to Kenya Mortgage Refinance Company (KMRC) as a Senior Loan of up to EUR 72 mln and a Subordinated loan of up to EUR 18 mln. The funds from the AfDB will support the GoK endeavors to operationalize KMRC. KMRC will engage in mortgage refinancing through local financial institutions including commercial banks, and Savings and Credit Cooperative Organizations (SACCOS) altogether referred to as Primary Mortgage Lenders (PMLs). It will finance itself in the medium...
26-Apr-2019

Project Summary Note - Botswana Development Corporation Limited (BDC) - Botswana

23-Mar-2019

Project Summary Note - EXPORT TRADING GROUP (ETG) - Corporate Loan - Multinational

The Board of Directors of the African Development Bank (AfDB) Group has approved a seven-year, non-sovereign guarantee, US $100-million corporate loan to the Export Trading Group (ETG), to finance part of part of the company’s five-year Agricultural Investment Program (IP) in Africa. The programme will promote employment for youths and women, and adopt an integrated value-chain approach that emphasizes access to regional and global markets.
19-Mar-2019

Project Summary Note - STANBIC IBTC BANK PLC – Nigeria

Long-term financing to a new client of the AfDB, Stanbic IBTC Bank PLC of Nigeria (“SIBTC”), for onlending to small and medium-sized enterprises (“SMEs”) operating in various sectors of the Nigerian economy, including agriculture/agribusiness, transportation and manufacturing, as well as for financing renewable energy and energy efficiency (“RE/EE”) projects in Nigeria.
16-Mar-2019

Project Summary Note - Infrastructure Credit Guarantee Company Limited (“InfraCredit”) – Nigeria

Provision of (i) a subordinated loan; and (ii) a Partial Credit Guarantee Facility (PCGF) to Infrastructure Credit Guarantee Company Limited, Nigeria (“InfraCredit”). The subordinated loan will improve InfraCredit’s qualifying capital base and enhance its long-term liquidity position whereas the PCGF will free up InfraCredit’s qualifying capital, enabling it to expand its local currency bond guarantee operations. Under the PCGF, the Bank will partially guarantee and share with InfraCredit, the credit risk on a portfolio of selected bankable and local Investment Grade (IG) bonds issued by...
15-Mar-2019

Project Summary Note - DRC Green Mini-Grid Program - Democratic Republic of Congo

The DRC Green Mini-Grid Program is a programmatic proposal which aims to serve as a pilot to innovative private-led electrification approach with renewable-based mini-grid solutions in the Democratic Republic of Congo (DRC) – and thereby bringing power to sizeable cities, some of them with a few hundred thousand inhabitants, without any access to modern energy. In support of the DFID-backed “Essor - Access to Electricity (A2E)” initiative, the Bank proposes to provide debt financing and arrange co-financing from the Green Climate Fund (GCF) and other development partners. The objective of the...
26-Feb-2019

Project Brief – Multinational - ATLANTIC COAST REGIONAL FUND LLC II (ACRF-II)

Equity investment in Atlantic Coast Regional Fund (“ACRF-II” or “the Fund”), a 10-year regional private equity fund targeting a USD 300 million capitalization to invest in African Companies with strong regional growth potential. ACRF-II target sectors and regions are; agribusiness, logistics and healthcare, infrastructure, financial services, consumer and retail, in West, Central and East Africa. AfDB was a key investor inthe initial fund (ACRF-I) alongside other DFIs with a participation of USD 15 million increased by USD 10 million in 2013. ACRF-II is the continuation of a proven and...
26-Feb-2019

Project Brief – Multinational - AFRICINVEST FUND III

AFIII(“Fund”) is the successor Fund to Afric Invest II (AF II) in which the Bank committed EUR 20 mln in 2009. AFIII is proposing an identical investment strategy as AF II: provide growth capital to high potential mid-size companies in Sub-Saharan Africa (SSA) strategically positioned to become dominant national or regional market leaders. The Fund will build on the milestones of AFI and AFII, investing in the sectors of manufacturing, agribusiness, financial services, energy, healthcare, education and consumer goods in SSA. To align with the growth in the market, the Fund is targeting a...
25-Feb-2019

Project Summary Note - SA Commuter Transit - South Africa

The Project entails funding of a mass transit financial solutions provider that on lends to small and medium enterprises (“SMEs”) that may otherwise not be able to access traditional financing. With the funding, SMEs will acquire fuel efficient, environmentally-friendly, quality vehicles (minibus taxis) to be used for mass transit across South Africa.
31-Jan-2019

Project Summary Note - Azur Innovation - Morocco

Azur Innovation (the ‘Fund’ or ‘FPPA’) is a public-private seed investment fund which was established to finance innovative young enterprises in Morocco. The Fund, domiciled in Morocco, was established under a Moroccan Government initiative, ‘Innov Invest’ aimed at promoting entrepreneurship and ensuring the development of VSME by supporting start-ups with strong growth potential through a financing structure combining public and private financing using several financing tools, and private investment loss protection mechanism. The target sector is the innovation and industrialisation sector....
31-Jan-2019

Project Summary Note - AFRICINVEST Financial Inclusion Vehicle (FIVE)

The AfricInvest Financial Inclusion Vehicle LLC (“The Fund” or “FIVE) launched by the AfricInvest Capital Partners is an evergreen fund that will invest equity and quasi-equity in African Tier II and III Financial Institutions (FIs) with a focus on innovative solutions for financial services in Sub-Saharan Africa. The aim is to invest in institutions that address the financing gap for African Small and Medium Size enterprises (SMEs) and support them in the framework of their digital transformation. The Fund will focus on growth FIs, which engage in regional expansion, downscaling, upscaling...
31-Jan-2019

Project Summary Note - Africa Technology Ventures Fund (ATV) - Multinational

Africa Tech Ventures (“the Fund”) is a new venture capital fund targeting tech start-ups and early stage innovative SMEs operating mainly in East Africa. Target size is US$ 50m with a first close at US$35m. The Fund intends to also invest, through syndication, in businesses from Western and Southern Africa that plan to scale up in East Africa and vice versa. The Fund’s objective is to reach a first closing by Q2 2019 and a final closing latest 12 months thereafter. ATV targets opportunities in key sectors that represent significant opportunity for improved livelihoods, and to which mobile and...
31-Jan-2019

Project Summary Note - The Africa Finance Corporation (AFC) - Multinational

Founded in 2007, the Africa Finance Corporation (“AFC” or “the Corporation”) is a multilateral development financial institution dedicated to infrastructure financing in Africa, through debt, equity, project development, financial advisory and treasury management services. The Corporation focuses on bridging Africa's large infrastructure deficit by financing projects with high developmental impact and economic growth. AFC’s mission is to foster industrial development of African countries, while delivering a competitive return on investment to its shareholders. As part of its mandate, the...
22-Jan-2019

Project Summary Note - Africa Food Security Fund

In an effort to boost agri-business and enhance food security in Africa, the African Development Bank Board has approved a US$15 million equity investment in Africa Food Security Fund (AFSF), to support enterprises in agri-business SMEs and enhance food security in Africa.