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A fund to support SMEs in DRC, Uganda and Angola
Project
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Signature date
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Location
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Angola, Uganda, Democratic Republic of Congo, Multi-country Africa
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Financing tool
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Financing amount (Euro)
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8846739
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Financing details
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USD 10m Equity Investment
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Customer
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African Rivers Fund III
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Type of customer
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Investment fund
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Country of headquarters
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Mauritius
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Project number
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IZZ1085
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Environmental and social ranking
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IF-B
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has invested USD 10m in the ARF III fund and is helping support SMEs in DRC, Uganda and Angola where access to financing is complex for entrepreneurs.
Client presentation
XSML was set up in 2008 and is a manager specialized in investing in small and medium-sized enterprises in frontier markets in Central Africa and East Africa. XSML has already raised three funds: Central Africa SME Fund, African Rivers Fund and African Rivers Fund III. The XSML team is composed of 14 professionals in 2 offices (Kinshasa and Kampala).
Project description
This investment has been made via the “Fragile Countries” component of FISEA+ (the AFD Group facility advised by Proparco and part of the Choose Africa initiative). It aims to support ARF III, a USD 80.5m debt fund to support SMEs in DRC, Uganda and Angola, a region where SMEs find it particularly difficult to access credit.
Project impact
This project should support about 30 SMEs in various sectors (including innovative sectors) and various countries (all considered as fragile countries). It will thereby contribute to maintaining/creating some 2,600 direct jobs in the investee companies over the next 10 years.