Equity Bank (Kenya) Limited Nasira Portfolio – USD 0.5mln guarantee
Equity Bank Kenya Limited is a wholly owned subsidiary of Equity Group Holdings Limited a listed company at the Nairobi Stock Exchange. Equity Bank- an ARISE B.V. investee- is a strong and well-reputed Tier 1 bank in Kenya. This guarantee is aimed at supporting our strategy to promote and facilitate trade in and between emerging markets thus support economic growth.
Nomanini Holdings Proprietary Ltd. - USD 0.5 mln loan
Nomanini Holdings Proprietary Ltd. (Nomanini) offers technological solutions for informal retailers across Africa, allowing them to access financial services and improve access to working capital within the FMCG value chain. Nomanini focuses on unbanked vendors, kiosk- and shop holders. Its strategic partnerships allow the FinTech platform to be one of the ‘winning’ models. This fits with MASSIF’s objective to support end-beneficiaries through financing local financial intermediaries and institutions.
United Liwwa for SME Finance LLC – USD 1 mln loan
United Liwwa for SME Finance is a technology enabled SME lending company with proprietary marketplace, established in 2015 and operational in Jordan. Liwwa fulfils the working capital need of un(der)served SMEs by funding the purchase of trade goods and fixed assets based on bank statements, discounting of invoices and working capital based on proven sales via Point of Sales. Liwwa has a unique brand in Jordan and strong competitive advantages that supports replicating the platform in the MENA region. Jordanian SMEs are un(der)served, but sophisticated enough for an automated loan process and sizable enough to scale the business, this serves as proof of demand for Liwwa.
Sasfin Bank Limited– ZAR 559.58 MLN Guarantee (NASIRA)
Sasfin Bank Ltd. is a commercial bank specialising in asset backed lending to SMEs. It was established as a family-owned textile importer in 1951 and shifted towards providing trade finance in 1970. Female, youth and migrant entrepreneurs are often under served in accessing financial services crucial for business developments. The NASIRA guarantee seeks to address these inequalities by supporting partners like Sasfin bank who have the capacity to increase lending to these segments and contributing to inclusive development.
African Rivers Fund (ARF) III LP – USD 10 mln equity
XSML is raising ARF III to build on the successful strategy of CASF and ARF I, and the Fund to employ a mixed mezzanine and equity investment approach to build a diversified portfolio of SME investments. An investment in ARF III aligns strongly with FMO’s strategy to deepen relationships with existing partners and generate a higher impact portfolio. SME financing is scarce in the regions where the Fund will operate, and by investing in the Fund FMO will help empower local entrepreneurs and prove itself a valuable partner for investing in local prosperity.
Maha Agriculture Public Company limited – USD 3mln loan
Maha Agriculture Microfinance is a young microfinance institution, focused on agriculture in rural Myanmar. The USD 3mln in MMK equivalent will support Maha in reaching out to its farmers and small business owners in rural areas. With this funding Maha can realize its growth ambitions in a challenging market where funding is scarce.
Alliance de Credit et d'Epargne pour la Production (ACEP), Burkina Faso SA – EUR 3mln loan
ACEP, Burkina Faso is a young microfinance institution providing financial products and services customised for mainly micro-entrepreneurs and SMEs whose needs are not covered by commercial banks given their informal nature. The € 3mln loan facility will support on-lending to MSMEs in one of the Least Developed Countries, hence aligning with FMO’s strategic goal of Reducing Inequalities.
Proximity Finance Microfinance. LTD – USD 5mln loan
Proximity Finance is a microfinance program in Myanmar, providing microfinance loans to farmers in especially in rural areas which have limited or no access to formal financing. This investment is highly inclusive and supports FMO strategy because funds will go to a low-income, fragile country. The USD 5mln loan in MMK equivalent will be used to on-lend to micro entrepreneurs in rural areas of Myanmar.
Compagnie Financiere Africaine Cote d'Ivoire – EUR 7.5 mln loan
COFINA Côte d’Ivoire is a young microfinance institution providing financial products and services customised for the “missing-middle”. MSMEs. The loan facility to COFINA Côte d’Ivoire will support on-lending to women micro-entrepreneurs, young entrepreneurs and SMEs. This will thereby drive financial inclusion, which is critical in reducing poverty and achieving inclusive economic growth and is fully aligned with FMO’s strategic goal of Reducing Inequalities and SDG 8.
Vitas Palestine Microfinance Company – USD 5 mln loan
Vitas Palestine (“Vitas”) is the second largest MFI in Palestine. Its mission is to support unbanked people to improve and sustain their lives and businesses by providing them the financial resources needed to support their economic activity, improving their standard of living. Vitas will use the new facility to continue funding clients in underserved areas of Palestine. The objective of these funds is to extend access to finance for micro-sized enterprises. FMO believes that stable access to finance for micro enterprises contributes to economic development.
Compagnie Financiere Africaine Cofina Senegal S.A. – EUR 2.5mln loan
COFINA Senegal is a young microfinance institution providing financial products and services customised for the “missing middle” among MSMEs. The loan facility to COFINA Senegal will support on-lending to women-owned MSMEs, youth and/or rural clients, which is fully aligned with FMO’s strategic goal of Reducing Inequalities. The transaction is a new client for FMO and will also be the first Financial Institution loan in Senegal. 90% of COFINA Senegal's portfolio is dedicated to MSME funding, our loan will thereby drive financial inclusion, which is critical in reducing poverty and achieving inclusive economic growth.
IDH FarmFit Fund B.V. – EUR 5mln loan
Since its inception in 2008, the Sustainable Trade Initiative (“IDH”) has developed a market-based approach to smallholder value chain development. FMO will play an instrumental role in showcasing the viability of farmer finance. A dedicated team of investment professionals will focus on offering tailor-made financial instruments (debt, risk sharing, equity) and TA to a wide range of investees that sustainably engage with smallholder farmers. Its impact is further increased through leveraging commercial bank finance.
Acumen Resilient Agriculture Fund, LP – USD 5mln loan
Acumen Resilient Agriculture Fund (“ARAF” or “Fund”) will be a fund that provides equity & mezzanine products and technical support to early-stage and early-growth agribusinesses. ARAF supports smallholder farmers to enhance their livelihoods and climate resilience. This strategy fits well with FMO’s goal to improve the livelihoods of smallholder farmers and the communities they live in. Using FMO’s funding, ARAF will invest in Aggregators, Agritechs and Financial services providers.
FMO Ventures Program – USD 25 mln equity
FMO Ventures Program is an initiative of FMO. The EUR 200 million program is supported by contributions from the Ministry of Foreign Affairs of the Netherlands as well as by a guarantee from the European Commission. FMO Ventures Program aims to empower innovative business models applying disruptive technology to enable or improve affordable access to goods and services to the un(der)served in emerging markets. FMO Ventures Program focuses on direct investments in young start-up and scale-up companies in Fintech, Energy access and Agritech, as well as on indirect (fund) investments in Venture Capital funds, predominantly in Africa and the European neighbourhood, and in certain parts of Asia.