PROJECT

Projects

Summary of Investment Information

Project Number

41047

Company Name

CAL BANK LIMITED

Date SPI Disclosed

Mar 15, 2018

Country

Ghana

Region

Africa

Projected Board Date

Apr 26, 2018

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Sep 29, 2023

Department

Regional Industry - FIG ME & Africa

Industry

Financial Markets

Previous Events

Approved : May 30, 2018
Signed : Jun 13, 2018
Invested : Jul 12, 2018

Sector

Commercial Banking - General

Additional Project Attributes

Blended Finance

Project Description

 The proposed investment consists of a US$50 million senior loan for CAL Bank Ghana Limited (“CAL Bank” or the “Bank”), an indigenous bank established in 1990 and listed on the Ghana Stock Exchange. The Bank’s co-founders include the Commonwealth Development Corporation (CDC), African Growth Fund, Vanguard Assurance Company Limited and IFC, who held a 25% ownership stake in the Bank until it divested in 2007. The project will support CAL Bank’s lending to Small and Medium Enterprises (SMEs). Portions of the senior loan will be targeted at growing CAL Bank’s climate finance as well as its women in banking business. 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation