Zoscales Fund I

Equity of April 2019

Zoscales Fund I is a private equity fund that targets to invest tickets of USD 3-8 M in SME that are based in Ethiopia (70%) or in the neighbouring East African countries of Kenya, Uganda, Tanzania, Rwanda and Djibouti.

The fund is sector agnostic with focus and experience in consumer goods, healthcare, materials and clean technology/renewable energy sectors.

Amount

€ 4,169,100.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation

Beneficiary locations

Sub-Saharan Africa: Ethiopia, Kenya, Rwanda, Tanzania, Uganda

Investment field

Investment Companies & Funds

Activity

SME Fund

Organisation

Zoscales Fund I

Domicile

Ethiopia

Development impacts

  • Local economic growth

    The Fund is expected to have a strong impact on local economic growth through the providing of long-term capital to SMEs.

  • Private sector consolidation/innovation

    Private equity is not at all developed in Ethiopia.
    The local financial institutions do not sufficiently provide long term financing to SME.
    The fund is one of the first movers in private equity in Ethiopia, BIO’s additional funding will help to perform relevant investments and build cases that support further development of private equity investments in the country.
    Thanks to its added value, the fund manager will help institutionalize and formalize investee companies.

Made possible through this investment

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

CGF Crown Cork Manufacturing

Ethiopia

A leading manufacturer of metal crown corks that it supplies to multinationals in the beverage industry.

Ethio-Asia Industries

Ethiopia

A manufacturer of personal care products which produces branded soap and detergent products.

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7 Hills

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  77,000.00

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AccessBank Tanzania Ltd.

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  620,000.00

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AccessBank Tanzania Ltd.

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  145,000.00

  Tanzania

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AccessBank Tanzania

  1,500,000.00

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  274,000.00

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  225,000.00

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  425,000.00

  Tanzania

  30/05/2013

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  100,000.00

  Tanzania

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  Subsidy

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  13,700.00

  Tanzania

  26/03/2012

  Subsidy