African Rivers Fund
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
Investment field
Investment Companies & Funds
Activity
SME fund
Organisation
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
Aurora
Democratic Republic of Congo
Aurora ASBL is a school established in 2012 offering French, English IB and Montessori education at nursery, primary and secondary level. The school has been founded by Mrs. Jayshree Aurora, who has longstanding experience in school administration in Kinshasa, with a degree in Accounting, Finance and Administration from the Université Libre de Bruxelles. Aurora distinguishes itself by offering high quality education at international standards at attractive prices in Kinshasa.
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.
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.
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.
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.
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.
Maison Galaxy
Democratic Republic of Congo
Galaxy is a retail chain specialised in cosmetics and other consumer products, founded by Ashiq Adatia in 2014, and operates thirty stores.
Monishop
Democratic Republic of Congo
Monishop is a supermarket retailer in Kinshasa.
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.
SOS Médecins de Nuits
Democratic Republic of Congo
MDN is a healthcare clinic based in Kinshasa and founded by Drs. Guy Bandu, Serge Holenn and Didier Mayemba in 2009, with the addition of Dr. Yves Lubenga in 2017 and operates from three locations 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.
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.
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.
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.
Read impact and news about this project
Impact Story
Vaccines can be produced in Africa
14-09-2021
BIO has invested in African Rivers Fund I and III, managed by XSML.
Jarl Heijstee is the co-founder and managing partner of XSML. This is his story.
Impact Story
Ice is important business
16-12-2019
BIO made a USD 5 M investment in ARF / XSML, an SME mezzanine fund active in Central Africa.
Mr Norman Batuma got a loan from XSML. This is his story.
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