PROJECT

Projects

Summary of Investment Information

Project Number

41346

Company Name

FAMOCO SAS

Date SPI Disclosed

May 3, 2019

Country

Africa Region

Region

Africa

Projected Board Date

Jun 3, 2019

Environmental Category

C - No Impact

Status

Pending Approval

Last Updated Date

Aug 23, 2019

Department

Equity Portfolio Management

Industry

Financial Markets

Sector

Retail Payment Points

Project Description

  The proposed project is an equity investment of US$5 million into Famoco, a Paris-based tech company that has developed and deployed proprietary hardware and software solutions to address the needs of large-scale mobile money agent networks and merchants in developing markets for the digitization of payment transactions.  IFC investment will be part of an investment round of up to US$14 million to fund the international expansion of Famoco in Africa.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation