African Rivers Fund

Equity : February 2016

African Rivers Fund (ARF) invests in small and medium-sized enterprises in Central and Eastern Africa.

Amount

€ 4,118,275.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation

Beneficiary locations

Sub-Saharan Africa: Democratic Republic of Congo, Uganda

Investment field

Investment Companies & Funds

Activity

SME fund

Organisation

African Rivers Fund

The Fund aims to achieve sustainable economic development by:

  • encouraging entrepreneurship in these fast growing markets, and;
  • creating a local manufacturing, services and agricultural base to provide Central African economies with locally produced goods and services.

Currently, many opportunities remain unexploited due to the lack of risk capital and support. By filling this gap, entrepreneurial efforts can have a multiplier impact, creating jobs and income. Often, entrepreneurs create businesses with regional growth prospects.

Development impacts

  • Local economic growth

    Access to long-term financing for SMEs

  • Private sector consolidation/innovation

    BIO will support the growth of the only fund manager dedicated to Central Africa with a certain track-record. The aim is mainly to diversify the high political risk in DRC and to establish a Central-African approach.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

Ice Industries

Uganda

Ice Industries (ICE) is a producer of flake ice, which is used mainly to keep fresh produce cold and is an essential element for the fishing sector in Uganda. The investment from ARF will be used to more than double the companies’ capacity of ice production, so that larger quantities of ice can be provided to the local fishing communities, at lower prices.

Ecopharm

Uganda

Ecopharm has a network of twelve pharmacies in Kampala, through which it provides branded pharmaceuticals, branded generic medicines as well as locally produced pharmaceuticals. In addition, Ecopharm sells over-the-counter medicines and personal care products.

Monishop

Democratic Republic of Congo

Monishop is a supermarket retailer in Kinshasa.

TMR

Uganda

TMR is a general hospital that specializes in maternity healthcare, emergency relief and Ears, Nose and Throat. TMR hospital offers healthcare on both an outpatient and inpatient basis, including a pharmacy, operating theatre, ICU, maternity ward and a laboratory.

SoGood

Democratic Republic of Congo

SoGood is the first wholesaler in the Congo focused on the distribution of fresh, frozen and dry good to the hospitality sector (restaurants, hotels, etc.) in Kinshasa.

Telcare

Uganda

Telcare is one of the leading operators of mobile money kiosks in Uganda. Telcare has 39 kiosks and four shops located in Kampala through which it provides mobile money transfer services on mobile platforms.

Quickprint

Democratic Republic of Congo

Established in 2014, Quickprint is a digital printing shop in Gombe, Kinshasa and offers modern printing solutions for corporates, NGOs and SMEs in the area.

Simba Oil

Uganda

Simba Oil is a petroleum marketing and distribution company in East Africa with head offices based in Uganda.

M&N services

Uganda

M & N Cleaning & Fumigation Services Ltd. is a cleaning, pest extermination & fumigation company. It is also involved in related services such as general cleaning of commercial and residential premises focusing on carpets, upholstery and hard floors and compound maintenance.

KARE

Uganda

KARE is a distributor and wholesaler of essential consumer goods based in Uganda. As a distributor, KARE helps locally manufactured brands to sell their products as detergent, soap, vegetable cooking oil and water to low-income households.

Qualicoff

Uganda

Qualicoff buys green Robusta coffee beans from small holders through a network of small merchants which are then cleaned, graded and sorted before being bagged for export.

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