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

Africa: Democratic Republic of Congo, Uganda

Investment field

Investment Companies & Funds

Activity

SME fund

Organisation

African Rivers Fund

Website

https://xsmlcapital.com/funds/african-rivers-fund/

African Rivers Fund is an SME mezzanine fund active in Central Africa with a specific focus on Democratic Republic of Congo (“DRC”). It is managed by Dutch fund manager XSML and will build on its experience acquired with the Central African SME Fund (“CASF”).

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.

Aurora Institute

Democratic Republic of Congo

Non-profit private school in Kinshasa, founded in 2012, serving the middle classes' rising demand for affordable, quality education.

B.I.S.

Democratic Republic of Congo

B.I.S. is a generic pharmaceutical manufacturer established in 1994 and produces and markets some 50 products in DRC. B.I.S. focuses on solid research and a specialized offering to treat conditions of ear, nose, eyes, throat and skin. The company was founded by Mr. Jeremiy Lubiba, who has over 20 years’ experience in pharmaceutical production in Kinshasa. B.I.S. distinguishes itself by offering high quality pharma products at attractive prices.

Citadel Holdings

Uganda

Company incorporated in 2018 as a holding for several specialized clinics and health services, focused on skin care, diabetic and heart diseases, and maternity and pedeatrics.

Ecopharm

Uganda

Retail pharmacy chain company that was founded in 2003, operating 15+ branches in Kampala, Uganda.

Fawaz Trading

Democratic Republic of Congo

Company trading electronic, lighting, UPS products, electrical cables, and renewable energy products out of Kinshasa.

Gérant l'éternel

Democratic Republic of Congo

Wholesail and retail company in Kinshasa, focusing on cosmetics, toys, kitchen equipment and other fast moving consumer goods.

Ice Industries

Uganda

Producer of flake ice for the fishing community at Lake Victoria, as well as other fishing islands and fish delivery vans.

KARE

Uganda

Bakery and supermarket business in Uganda.

M&N Cleaning

Uganda

Cleaning and fumigation service provider to companies and residences in Uganda.

Maison Galaxy

Democratic Republic of Congo

Consumer goods and cosmetics retailer with several stores in Congo, DR.

Monishop

Democratic Republic of Congo

Congolese retail mall business, which includes a supermarket, fast-food restaurants and a pharmacy.

NRJ Distribution

Democratic Republic of Congo

One of the largest trucking companies in DRC that counts with a fleet of trucks, trailers and elevator tractors. The company is specialized in the transport of cement, mined materials, fuel, logs and other conventional freight, as well as rental services.

Popshop

Democratic Republic of Congo

Holding for several retail and gastronomy businesses in Kinshasa, such as restaurants and food courts.

Prime Concept

Uganda

Manufacturer of corrugated carton boxes for packaging, storage and transportation in Uganda.

Psarommatis Coundouris Angel (PCA)

Democratic Republic of Congo

Supermarket located in Gombe-Kinshasa, operating since 2019.

RJ Trading

Democratic Republic of Congo

Congolese wholesale trading company in the FMCG sector.

Simba Oil

Uganda

Large re-seller of electronic airtime, MTN sim cards, handsets, phone related electronics and supplier of float and cash to mobile money agents in Uganda.

SINDCO

Democratic Republic of Congo

Manufacturer of PET preforms for breweries and water bottling companies.

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.

Médecins de Nuits (MDN)

Democratic Republic of Congo

Group of healthcare clinics in DRC, providing emergency, regular healthcare and surgical procedures.

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.

Tal Medical And Rescue International (TMR)

Uganda

TMR International Hospital offers healthcare services such as maternity care, pedeatrics, cardiology, emergency services and others in Uganda.

Qualicoff

Uganda

Coffee trading and export business in Uganda.

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.