PROJECT

Projects

Summary of Investment Information

Project Number

44576

Company Name

ADUMO (RF) PROPRIETARY LIMITED

Date SPI Disclosed

Nov 16, 2020

Country

South Africa

Region

Africa

Projected Board Date

Dec 17, 2020

Environmental Category

C - No Impact

Status

Active

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Dec 17, 2020
Signed : Feb 5, 2021
Invested : Feb 24, 2021

Sector

Retail Payment Points

Project Description

 The proposed project consists of an equity investment by IFC and IFC Asset Management Company of up to $15 million in Adumo RF Pty Ltd (Adumo), a leading independent payment platform in South Africa. Adumo enables merchants to accept card payments through a physical POS device or an App-based device, and also provides payments processing, loyalty card management, reconciliation and other value-added services.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation