AfricInvest Financial Inclusion Vehicle
AfricInvest Financial Inclusion Vehicle (FIVE) is an evergreen investment fund focusing on financial inclusion in Africa.
Amount
€ 10,000,000.00
Type of investment
Equity
Development impacts
- Local economic growth
- Private sector consolidation/innovation
- Financial inclusion
Beneficiary locations
Investment field
Investment Companies & Funds
Activity
MFI fund
Organisation
AfricInvest Financial Inclusion Vehicle
Core target companies will be established African mid-size banks and insurers, as well as microfinance and leasing institutions, with a strategy to expand into the unbanked retail and SME segments, with a special focus on how the ongoing fintech changes in the financial sector could impact these institutions.
The main particularity and innovation of this project is its evergreen character, i.e. no initially fixed end date. The rationale is that more time is needed to get the most out of investments in the financial sector (compared to most other sectors). More particularly, the process to obtain a banking license from local Central Banks can be very long.
Development impacts
-
Local economic growth
Provision of additional mid to long-term capital to financial institutions which will a.o. enable them to keep up with increasing Capital Adequacy Ratios. This aspect is further reinforced by the fact that there are currently not a lot of equity providers for smaller financial institutions in Sub-Saharan Africa.
-
Private sector consolidation/innovation
- Market structuring effects through a novel instrument : FIVE will be the first evergreen fund focusing on the financial sector in Africa, capable of offering funding on a longer term than classic closed-end vehicles. Also the specific focus on fintech to create value at the level of the investments is innovative.
- Institution building and company development of the financial institutions FIVE will invest in through the hands-on approach that characterizes AfricInvest.
-
Financial inclusion
One of the main targets of the fund is to increase the quantity and quality of financial services offered to the local population and businesses.
Made possible through this investment
InstaDeep
Tunisia
InstaDeep was founded in 2014 in Tunisia and has since grown to an established AI firm with more than 60 employees spread across its headquarters in London, and offices in Paris, Tunis, Nairobi and Lagos.
CFG Bank
Morocco
CFG is an investment bank offering brokerage, asset management and corporate financial services. It started delivering retail banking services in 2015 targeting mainly retail customers.
Prime Bank
Kenya
Prime Bank Ltd. is one of the leading Private Banks in Kenya and was founded in 1992. The bank is a mid-sized retail bank that caters to both individuals and corporate clients.
View more of our investments in this region
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Zoscales Fund I
21,757.30
Ethiopia, Kenya, Rwanda, Tanzania, Uganda
12/11/2019
Subsidy
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ASA Holding
8,733,600.00
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Debt
Investment Companies & Funds
Frontier Energy II
8,151,000.00
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Equity
Investment Companies & Funds
Fairtrade Access Fund
3,000,000.00
Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda
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Equity
Investment Companies & Funds
Verod Capital Growth Fund III
8,733,600.00
Ghana, Nigeria
25/07/2019
Equity
Investment Companies & Funds
African Rivers Fund
4,118,275.00
Democratic Republic of Congo, Uganda
02/02/2016
Equity
Enterprises
Plantations et Huileries du Congo
9,741,280.77
Democratic Republic of Congo
21/12/2015
Debt
Investment Companies & Funds
FPM - Fonds pour l'inclusion financière en DRC
5,800,888.00
Democratic Republic of Congo
26/06/2014
Equity
Investment Companies & Funds
Africa Renewable Energy Fund
8,896,000.00
Ghana, Kenya, Senegal, Uganda, Zambia
30/10/2014
Equity
Investment Companies & Funds
Beyond the Grid Solar Fund
4,175,007.50
Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Nigeria, Rwanda, Tanzania, Uganda
26/10/2017
Debt
Investment Companies & Funds
Agri-Vie Fund II
6,552,700.00
Kenya, South Africa, Tanzania, Uganda, Zambia
20/01/2017
Equity
Investment Companies & Funds
Adenia Capital IV LP
9,000,000.00
Côte d'Ivoire, Ghana, Madagascar
01/11/2016
Equity
Investment Companies & Funds
Ethos Mezzanine Partners 3
8,868,980.00
Burundi, Ethiopia, Kenya, Malawi, Mozambique, Rwanda, South Africa, Tanzania, Uganda, Zambia
13/06/2019
Equity
Enterprises
Enko Education
2,000,000.00
Burkina Faso, Cameroon, Côte d'Ivoire, Mali, Mozambique, Senegal, South Africa
20/09/2018
Debt
Investment Companies & Funds
Adenia Capital III
5,000,000.00
Côte d'Ivoire, Ghana, Madagascar
28/02/2012
Equity
Investment Companies & Funds
Adenia Capital III
100,000.00
Côte d'Ivoire, Ghana, Madagascar
19/05/2016
Subsidy
Investment Companies & Funds
Adenia Capital III
150,000.00
Côte d'Ivoire, Ghana, Madagascar
28/09/2012
Subsidy
Investment Companies & Funds
Zoscales Fund I
4,169,100.00
Ethiopia, Kenya, Rwanda, Tanzania, Uganda
18/04/2019
Equity
