AfricInvest Financial Sector Limited LLC
BIO has invested € 5 M in equity in AfricInvest Financial Sector Limited LLC, a private equity fund investing in financial institutions in Sub-Saharan Africa.
Amount
€ 5,000,000.00
Type of investment
Equity
Development impacts
- Local economic growth
- Private sector consolidation/innovation
- Financial inclusion
Beneficiary locations
Investment field
Investment Companies & Funds
Activity
Financial Institution Fund
Organisation
AfricInvest Financial Sector Limited LLC
Website
https://www.africinvest.com/Domicile
AFS was launched in 2007 with the aim to contribute to the development of the African financial sector in less developed markets and post-conflict countries, and to enhance the structure and diversify the financial sector in more mature African markets. It does so by investing in following sub-sectors of the financial sector : banks (with a focus on smaller SME banks), non-banking financial institutions with a focus on leasing, insurance companies and microfinance, including greenfield projects.
Development impacts
-
Local economic growth
The Fund targets micro, small and medium enterprises and will provide mid to long-term capital to financial institutions and improvement of financial inclusion
-
Private sector consolidation/innovation
Know-how at the fund level: BIO has an active participation in the governance of the fund.
Know-how and technology transfer to investees: The concrete support by the Manager can materialize in many different ways : by reinforcing governance and thereby solving conflicts of interest, by helping in the recruitment of senior management and by organizing needed trainings, by supporting the upgrade of the processes and information systems, by offering guidance in defining a growth strategy and in identifying new products and channels, by intermediating to diversify sources of funding, by assisting in the selection of strategic partners.
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Financial inclusion
Improvement of financial inclusion, by increasing the quantity and quality of financial services offered to the local population and businesses.
Mobilisation of savings of clients of the investees
Made possible through this investment
Abbey
Nigeria
Abbey Building Society PLC (ABBEY) is one of the leading and most profitable Primary Mortgage Institutions (PMI) in Nigeria. The company currently has nine full operational branches and offers a wide range of mortgage and banking activities to individual and corporate customers. ABBEY is the first mortgage bank in Nigeria to have foreign direct investment and the third most capitalized mortgage bank in Nigeria.
Alios Zambia
Zambia
Leasing services
Alpha West (UAB)
Burkina Faso
Financial services
Aquila Leasing Ltd
Nigeria
Aquila is a leading independent leasing company in Nigeria, providing operating and financial lease solutions to corporate clients and MSMEs/individuals. The Company grew into the market leader in fleet management to the financial and FMCG sector by delivering innovative products and services to the market.
Banco Tchuma / Banco Mais
Mozambique
Banco Tchuma was a microfinance institution with a banking license that failed mostly due to undercapitalization. AFS and Geocapital recapitalized and transformed the institution into a SME bank, renaming it Banco Mais.
Cogebanque
Rwanda
Cogébanque is a Rwandan commercial bank established in 1998 by Rwandan nationals. The bank has a total of 14 branches, guichets and agencies, of which seven are in Kigali and the remaining spread across the country.
EFC Tanzania
Tanzania
Entrepreneur Financial Center Tanzania (EFC Tanzania) is a recently-created licensed deposit-taking microfinance institution in Tanzania. It is part of the EFC network of local microfinance institutions in Africa.
EFC Uganda
Uganda
EFC Uganda is a deposit-taking MFI that started operations mid 2012.
EFC Zambia
Zambia
A licensed deposit taking microfinance institution in Zambia.
Family Bank
Kenya
Family Bank is a commercial bank domiciled in Kenya. The Bank's initial target market was the low-income segment comprised of small-scale farmers; salaried staff; micro, small- and medium-sized enterprises (MSME's); youth and women.
Microcred Mali
Mali
Microcred Mali is a micro-finance institution. MCM started in 2013 and offers Micro-loans and SME loans.
Microcred Madagascar
Madagascar
Microcred Madagascar (MCM) is a micro-finance institution. MCM started in 2006 and offers Micro-loans and SME loans. Microcred obtained a banking license and started collecting deposits in Q2 2010.
NMBZ
Zimbabwe
NMB Bank is a retail and corporate bank in Zimbabwe that is a 100% subsidiary of NMBZ, a Zimbabwean based investment holding company incorporated in 1993 that is listed on the Zimbabwe Stock Exchange.
Sunu Bank
Togo
BPEC (now Sunu Bank) is a commercial bank resulting from the privatization of the Caisse d’Epargne du Togo which was a 100% state-owned savings institution dedicated to civil servants.
UAP Holdings
Kenya
UAP Group is a pan-African financial services group with interests in insurance, investment management, property development and investments, securities brokerage and financial advisory.
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
