PROJECT

Projects

Summary of Investment Information

Project Number

45417

Company Name

TERRAPAY HOLDINGS LIMITED

Date SPI Disclosed

Apr 17, 2023

Country

Africa Region

Region

Africa

Projected Board Date

Jun 2, 2023

Environmental Category

C - No Impact

Status

Active

Last Updated Date

May 30, 2024

Department

CDFFT - Disruptive Technologies and Funds/Fin Tech

Industry

Financial Markets

Previous Events

Approved : Jun 28, 2023
Signed : Mar 25, 2024
Invested : May 28, 2024

Sector

Switching, switches

Project Description

 The proposed project consists of a US$30mn IFC A Loan and US$60mn B/Parallel Loan (the “Project”) with syndicating partners to TerraPay Payment Services (Mauritius) as the Borrower (“TerraPay” or ‘the Borrower’ or the “Company”). The proposed loan has a maturity period of 4 years, with a two-year grace period. The Project will provide working capital to enable the immediate settlement of remittances across major corridors at a competitive cost and in a reliable and secure manner.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation