Inspiring Leadership & Sustainable Business Transformation in Africa
KENYA – FMO, the Dutch entrepreneurial development bank, has signed a NASIRA portfolio guarantee for US$15 million in local currency for its existing customer I&M Bank in Kenya. NASIRA is a risk sharing facility for local financial institutions. It offers a portfolio guarantee to stimulate lending to underserved segments. The risk-sharing facility will be used for I&M Bank’s MSME portfolio,…
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AFRICA – The Dutch development banking group Entrepreneurial Development Bank (FMO) is poised to boost loan guarantees in Africa’s vulnerable countries through the Nasira program. FMO plans to broaden the range of its pre-existing Nasira program, a financing tool dedicated to young women entrepreneurs in Sub-Saharan Africa and countries with border proximity to Europe. By extending the program’s outreach, FMO…
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AFRICA – BIX Capital, and FMO, the Dutch Entrepreneurial Development Bank, is jointly providing a US$10 million facility to C-Quest Capital to further strengthen its Clean Cooking activities in Sub-Saharan Africa. For many years, BIX Capital, an investment vehicle initiated by Shell Foundation, Cardano Development and Fount, has provided loans to C-Quest Capital (CQC), a successful social impact project developer…
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SIERRA LEONE – Dutch development bank FMO, in partnership with TCX, has issued the first-ever synthetic Sierra Leonean Leone bond (SLL). The term synthetic refers to the fact that the bond is denominated in Sierra Leonean Leone, but the reconciliation of all cash flows is in USD. The bond with an equivalent US$7.5 million counter value (around 85 billion Sierra…
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KENYA – Dutch development bank FMO and Kenya’s Sidian Bank, have announced the signing of a US$15 million NASIRA loan portfolio guarantee to provide financing for Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic in Kenya. A minimum of 30 percent of the total guarantee facility will be allocated specifically to young and female entrepreneurs. The guarantee…
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EGYPT – FMO, the Dutch entrepreneurial development bank, has invested US$20 million in Ezdehar Mid-Cap Fund II, a fund will be managed by Ezdehar B.V, as it aims to provide capital to SMEs/Mid-cap companies operating in Egypt. This represents a continuing relationship for FMO, having committed to the predecessor fund, Ezdehar Egypt Mid-Cap Fund Coöperatief U.A., in 2016. The Fund…
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EGYPT – FMO, the Dutch entrepreneurial development bank, has invested US$20 million in Ezdehar Mid-Cap Fund II, a fund will be managed by Ezdehar B.V, as it aims to provide capital to SMEs/Mid-cap companies operating in Egypt. This represents a continuing relationship for FMO, having committed to the predecessor fund, Ezdehar Egypt Mid-Cap Fund Coöperatief U.A., in 2016. The Fund…
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BURKINA FASO – West Africa-focused renewable energy independent power producer, Africa REN, has commenced construction for the 38 MW Kodeni Solar power plant in Burkina Faso after reaching financial close. Once completed, the renewable energy facility will be the largest solar power plant in the West African country. The plant is scheduled to be commissioned in August 2022 and Kodeni Solar plant…
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KENYA – To help smaller businesses across a range of sectors in Kenya access financing for working capital, expansion, and to weather the effects of COVID-19, IFC and FMO, the Dutch entrepreneurial development bank, have announced a loan to I&M Bank Limited of US$50 million. With IFC contributing US$30 million and FMO contributing US$20 million, the loan will strengthen I&M…
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AFRICA – IDH Farmfit Fund, the catalyzing smallholder finance facility of IDH has received financial support from the Dutch development bank FMO and Rabobank, each investing €10 million (US$11.8m). The IDH Farmfit Fund, with backing from public and private organizations, makes it possible to provide financing for small-scale farmers in developing countries. By covering any initial losses on loans, the…
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