PROJECT

Projects

Summary of Investment Information

Project Number

45387

Company Name

PLATCORP HOLDINGS

Date SPI Disclosed

May 19, 2022

Country

Eastern Africa Region

Region

Africa

Projected Board Date

Jun 24, 2022

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Oct 25, 2025

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Jun 29, 2022
Invested : Mar 2, 2023

Sector

Microfinance and Small Business - Non Commercial Banking

Additional Project Attributes

Blended Finance

Project Description

The proposed project consists of an up to US$45 million senior loan to subsidiaries of Platcorp Holdings Limited, namely Platinum Credit Kenya, Premier Credit Kenya, Platinum Credit Uganda and Premier Credit Uganda. IFC’s Own Account will be up to US$20mn in Kenya and up to US$5mn in Uganda, with the remaining US$20mn mobilized for the Kenya entities through B1/Parallel loans on a best-effort basis. The transaction aims to provide liquidity to the MFIs to support the growth of their MSME portfolio. 

The Project will be processed under the Base of the Pyramid (BOP) Program to support the growth of the MFIs’ micro, small, and medium enterprises (MSME) portfolio and the Uganda subsidiaries will benefit from a 40% Pooled First Loss Guarantee (PFLG).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation