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
Website
https://www.africinvest.com/Domicile
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
Bizao
Côte d'Ivoire
Bizao is a payment service infrastructure provider for businesses in a B2B2C scheme.
CFG Bank
Morocco
Commercial bank in Morocco, providing corporate and retail services.
Fidelity Bank Ghana Limited
Ghana
Launched in 2006, Fidelity Bank started as a discount house which has now grown to be a top-tier bank in Ghana.
I&M Rwanda
Rwanda
Incorporated in 1963 as the first commercial bank in Rwanda, today the Bank is publicly listed on the Rwandan Stock Exchange. The Bank is a subsidiary of I&M Holdings. The bank is a top-tier bank in Rwanda with a strong position in the corporate and higher-tier SME segments, while being a leading bank in mortgage financing.
InstaDeep
Tunisia
J.63.99 Other information service activities n.e.c.
Founded in 2014, InstaDeep makes use of AI to help businesses make complex decisions by having developed an expertise in machine learning, reinforcement deep learning, computer vision and predictive analysis offering complete and customized end-to-end solutions.
Moove
Nigeria
Digital vehicle financing services company.
Onafriq (formerly MFS Africa)
South Africa
A licensed company providing Pan African B2B2C payment infrastructure that provides a single access point to a Pan African payment ecosystem and a large number of use-cases including remittances into and intra-Africa as well as cross-border and local collections and payouts through all major mobile money schemes.
Prime Bank
Kenya
Kenyan commercial bank offering corporate, SME, and retail banking services with 20+ branches in the country.
Raynal Assurances IARD
Burkina Faso
Established in 2006, Raynal underwrites non-life insurance in Burkina Faso
for risks associated to automotive, health, accident, fire, etc. The Company is
ranked among the top 3 players in its market. The Company is mainly active on the corporate segment (with a focus on Automobile and Health) while a diversification to corporate multi-risk and retail segments is ongoing.
Regic - Royal Exchange General Insurance Company
Nigeria
The Company is a top tier non-life insurance company that used to be part of the
oldest insurance group in Nigeria (1918). The Company has launched its retail strategy through digital channels, targeting in priority the agriculture insurance for the small farmers.
View more of our investments in this region
Investment Companies & Funds
African Rivers Fund IV
10,000,000.00
Angola, Democratic Republic of Congo, Uganda, Zambia
05/12/2024
Equity
