Zoscales Fund I

Subsidy : November 2019 - September 2020

BIO has given USD 24 k of Technical Assistance to Zoscales Fund I, a PE fund targeting SMEs in East Africa.

Amount

€ 21,757.30

Type of investment

Subsidy

Beneficiary locations

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

Investment field

Investment Companies & Funds

Activity

SME Fund

Organisation

Zoscales Fund I

Domicile

Ethiopia

More investments in

Zoscales Fund I

With this subsidy, BIO provides an E&S capacity building training for Zoscales’ portfolio companies, including both employees and management.

The capacity building programme was comprised of three phases.

  • The first phase involved a three-day training programme to familiarize the companies in lender environmental and social standards and the process to develop and environmental and social management systems (ESMS). The training was delivered in December 2019 in Addis Ababa.
  • The second phase of the programme comprised a visit to each of the five companies to tour their facilities and discuss progress in implementing the ESMS.
  • The third phase of the programme comprised remote support and advice to the companies on an ad hoc basis through review and comment on ESMS implementation plans and documentation. All phases have been implemented successfully and deliverables received. ZPs and the consultant seemed both very satisfied of the services and value add.

A good ESMS appropriate to the nature and the scale of the company promotes sound environmental and social performance and can lead to improved financial, social and environmental outcomes.

Made possible through this investment

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

Africa Jobs Network

Ethiopia

Africa Jobs Network is an online employment search engine with head offices in Addis Ababa and Nairobi. The Company generates its revenue from job listing packages, recruitment services and consultancy & training. In addition, AJN provides personnel management and temporary workspace services for its clients.

Ahadukes Food Products

Ethiopia

Ahadukes Food Products S.C. is an affordable biscuit producing company that started production in 2015 targeting the regular segment of the biscuit market.

CGF Crown Cork Manufacturing

Ethiopia

Established in 2012, CGF Crown Cork Manufacturing PLC manufactures and supplies metal crown caps to the carbonated soft drinks and beer markets in Ethiopia.

Ethio-Asia Industries

Ethiopia

C.10.89 Manufacture of other food products n.e.c.

Founded in 1998, Ethio – Asian Industries S.C. is the first privately owned soap and detergent company in Ethiopia. The company manufactures and distributes a diverse portfolio of well-known bath soaps and laundry brands.

Pioneer Diagnostics Center

Ethiopia

Established in 2006, Pioneer Diagnostic Center is a forerunner in quality imaging diagnostic services in Ethiopia. PDC operates from four centers in Addis Ababa and one center in upcountry market.

Premier Hospital Limited

Kenya

Hospital Activities

View more of our investments in this region

Ascent Rift Valley Fund II

Investment Companies & Funds

Ascent Rift Valley Fund II

  323,539.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  08/02/2022

  Subsidy

Victoria Commercial Bank

Financial Institutions

Victoria Commercial Bank

  8,149,300.00

  Kenya

  24/03/2022

  Debt

Uhuru Growth Fund I-A SCP

Investment Companies & Funds

Uhuru Growth Fund I-A SCP

  2,500,000.00

  Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Mali, Nigeria, Senegal

  31/03/2022

  Equity

EFC Uganda

Financial Institutions

EFC Uganda

  744,274.00

  Uganda

  10/08/2021

  Equity

Spark + Africa Fund

Infrastructure

Spark + Africa Fund

  2,444,790.00

  Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Rwanda, Senegal, Tanzania, Uganda

  10/03/2022

  Equity

Alterfin

Financial Institutions

Alterfin

  80,000.00

  Cambodia, Nicaragua, Peru, Côte d'Ivoire, Kenya

  03/03/2022

  Subsidy

KCB Kenya

Financial Institutions

KCB Kenya

  28,200.00

  Kenya

  13/07/2021

  Subsidy

Lendable MSME Fintech Credit Fund

Investment Companies & Funds

Lendable MSME Fintech Credit Fund

  2,994,950.00

  India, Indonesia, Vietnam, Kenya, Nigeria, South Africa

  20/08/2021

  Equity

Cathay Africinvest Innovation Fund

Investment Companies & Funds

Cathay Africinvest Innovation Fund

  4,000,000.00

  Egypt, Kenya, Nigeria, South Africa

  21/05/2021

  Equity

Cathay Africinvest Innovation Fund

Investment Companies & Funds

Cathay Africinvest Innovation Fund

  6,000,000.00

  Egypt, Kenya, Nigeria, South Africa

  21/05/2021

  Equity

Alterfin

Investment Companies & Funds

Alterfin

  20,125.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  03/08/2021

  Subsidy

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  15,000,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  22/12/2020

  Debt

The Currency Exchange Fund n.v.

Financial Institutions

The Currency Exchange Fund n.v.

  7,091,000.00

  Bangladesh, Cambodia, India, Indonesia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Vietnam, Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, Syria, Tunisia, Palestinian Territories, Benin, Burkina Faso, Burundi, Cameroon, Côte d'Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia

  05/09/2007

  Equity

African Minerals Limited

Enterprises

African Minerals Limited

  740,784.67

  Uganda

  22/12/2009

  Debt

Africinvest Fund II LLC.

Investment Companies & Funds

Africinvest Fund II LLC.

  6,000,000.00

  Tunisia, Burkina Faso, Cameroon, Côte d'Ivoire, Ghana, Kenya, Nigeria, Senegal

  28/08/2008

  Equity

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  5,000,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  08/12/2010

  Debt

Bank of Africa Group S.A.

Financial Institutions

Bank of Africa Group S.A.

  1,954,160.00

  Benin, Burkina Faso, Côte d'Ivoire, Democratic Republic of Congo, Ghana, Kenya, Madagascar, Mali, Niger, Rwanda, Senegal, Tanzania, Uganda

  30/03/2011

  Equity

Agri-Vie Fund II

Investment Companies & Funds

Agri-Vie Fund II

  350,000.00

  Kenya, South Africa, Tanzania, Uganda, Zambia

  23/11/2020

  Subsidy

Phatisa Food Fund 2

Investment Companies & Funds

Phatisa Food Fund 2

  5,767,300.00

  Ghana, Kenya, Malawi, South Africa, Tanzania, Uganda, Zambia

  29/01/2021

  Equity

Electrical Controls and Switchgear Ltd.

Enterprises

Electrical Controls and Switchgear Ltd.

  725,111.00

  Uganda

  27/01/2015

  Debt

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  6,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  21/11/2003

  Equity

Grofin East Africa Fund LLC.

Investment Companies & Funds

Grofin East Africa Fund LLC.

  2,211,000.00

  Kenya, Rwanda, Tanzania, Uganda

  25/01/2006

  Equity

Rubaya-Nyabihu Tea Company Ltd.

Enterprises

Rubaya-Nyabihu Tea Company Ltd.

  3,674,000.00

  Rwanda

  01/03/2017

  Debt

AgRIF Coöperatief U.A.

Investment Companies & Funds

AgRIF Coöperatief U.A.

  105,000.00

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  11/09/2018

  Subsidy

AgRIF Coöperatief U.A.

Investment Companies & Funds

AgRIF Coöperatief U.A.

  5,438,332.50

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  18/06/2015

  Equity

Zoscales Fund I

Investment Companies & Funds

Zoscales Fund I

  350,000.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  23/11/2020

  Subsidy

KCB Kenya

Financial Institutions

KCB Kenya

  19,583,388.00

  Kenya

  22/12/2020

  Debt

Ascent Rift Valley Fund II

Investment Companies & Funds

Ascent Rift Valley Fund II

  2,300,000.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  17/12/2020

  Equity

Ascent Rift Valley Fund II

Investment Companies & Funds

Ascent Rift Valley Fund II

  5,743,220.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  23/12/2020

  Equity

AfricInvest Financial Sector Limited LLC

Investment Companies & Funds

AfricInvest Financial Sector Limited LLC

  5,000,000.00

  Burkina Faso, Kenya, Madagascar, Mali, Mozambique, Nigeria, Rwanda, Uganda, Zambia

  20/12/2013

  Equity

African Rivers Fund III

Investment Companies & Funds

African Rivers Fund III

  1,500,000.00

  Democratic Republic of Congo, Uganda

  01/09/2020

  Equity

Alterfin

Financial Institutions

Alterfin

  3,000,000.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  15/07/2020

  Debt

African Rivers Fund III

Investment Companies & Funds

African Rivers Fund III

  6,113,520.00

  Democratic Republic of Congo, Uganda

  01/09/2020

  Equity

Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  350,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  07/04/2020

  Subsidy

Alios Finance S.A.

Financial Institutions

Alios Finance S.A.

  2,877,422.00

  Kenya, Tanzania, Zambia

  15/12/2015

  Debt

EFC Uganda

Financial Institutions

EFC Uganda

  16,144.00

  Uganda

  18/12/2019

  Subsidy

Frontier Energy II

Investment Companies & Funds

Frontier Energy II

  8,151,000.00

  Kenya, Rwanda, Tanzania, Uganda

  21/03/2018

  Equity

AfricInvest Financial Inclusion Vehicle

Investment Companies & Funds

AfricInvest Financial Inclusion Vehicle

  10,000,000.00

  Morocco, Côte d'Ivoire, Democratic Republic of Congo, Ghana, Kenya, Nigeria, Rwanda, Tanzania, Zambia

  14/12/2017

  Equity

Alterfin

Investment Companies & Funds

Alterfin

  250,000.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  13/12/2002

  Equity

Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  3,000,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  24/10/2019

  Equity

ARPE Ltd.

Infrastructure

ARPE Ltd.

  8,236,550.00

  Uganda

  07/12/2016

  Debt

EFC Uganda

Financial Institutions

EFC Uganda

  285,933.00

  Uganda

  28/09/2016

  Equity

EFC Uganda

Financial Institutions

EFC Uganda

  1,000,000.00

  Uganda

  23/03/2018

  Equity

African Rivers Fund

Investment Companies & Funds

African Rivers Fund

  4,118,275.00

  Democratic Republic of Congo, Uganda

  02/02/2016

  Equity

Kivuwatt Ltd.

Infrastructure

Kivuwatt Ltd.

  7,750,715.07

  Rwanda

  24/08/2011

  Debt

Rwimi EP Company

Infrastructure

Rwimi EP Company

  9,426,443.00

  Uganda

  29/07/2015

  Debt

Rwanda Mountain Tea

Infrastructure

Rwanda Mountain Tea

  1,986,637.72

  Rwanda

  21/12/2011

  Debt

Africa Renewable Energy Fund

Investment Companies & Funds

Africa Renewable Energy Fund

  8,896,000.00

  Ghana, Kenya, Senegal, Uganda, Zambia

  30/10/2014

  Equity

Beyond the Grid Solar Fund

Investment Companies & Funds

Beyond the Grid Solar Fund

  3,185,582.00

  Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Nigeria, Rwanda, Tanzania, Uganda

  26/10/2017

  Debt

Agri-Vie Fund II

Investment Companies & Funds

Agri-Vie Fund II

  6,552,700.00

  Kenya, South Africa, Tanzania, Uganda, Zambia

  20/01/2017

  Equity

Adenia Capital IV

Investment Companies & Funds

Adenia Capital IV

  9,000,000.00

  Côte d'Ivoire, Ghana, Kenya, Madagascar

  01/11/2016

  Equity

TLcom TIDE Africa

Investment Companies & Funds

TIDE Africa

  4,367,820.00

  Kenya, Nigeria

  28/06/2019

  Equity

Ethos Mezzanine Partners 3

Investment Companies & Funds

Ethos Mezzanine Partners 3

  8,868,980.00

  Burundi, Ethiopia, Kenya, Malawi, Mozambique, Rwanda, South Africa, Tanzania, Uganda, Zambia

  13/06/2019

  Equity

Africa Sustainable Forestry Fund II

Investment Companies & Funds

Africa Sustainable Forestry Fund II

  4,366,800.00

  South Africa, Tanzania, Uganda

  26/04/2018

  Equity

Zoscales Fund I

Investment Companies & Funds

Zoscales Fund I

  4,169,100.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  18/04/2019

  Equity

7 Hills

Enterprises

7 hills

  77,000.00

  Uganda

  05/10/2006

  Subsidy

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  620,000.00

  Tanzania

  01/08/2007

  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  145,000.00

  Tanzania

  05/02/2009

  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  1,500,000.00

  Tanzania

  15/09/2009

  Debt

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  274,000.00

  Tanzania

  25/02/2010

  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  225,000.00

  Tanzania

  28/06/2012

  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  425,000.00

  Tanzania

  30/05/2013

  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  100,000.00

  Tanzania

  01/12/2007

  Subsidy

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  13,700.00

  Tanzania

  26/03/2012

  Subsidy