PROJECT

Projects

Summary of Investment Information

Project Number

46378

Company Name

PEO FINANCE PROPRIETARY LIMITED

Date SPI Disclosed

May 18, 2022

Country

Botswana

Region

Africa

Projected Board Date

Jun 19, 2022

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Sep 9, 2022

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Jun 16, 2022
Signed : Jun 24, 2022
Invested : Sep 7, 2022

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

 The proposed investment consists of a Pula-linked senior loan of up to US$40 million equivalent to Peo Finance Proprietary Limited (“Peo” or the “Company”). IFC’s investment will provide Peo, a new non-deposit taking NBFI based in Botswana, with funding to facilitate access to finance through digital channels to un(der)served individuals in Botswana and scale up its lending operations of micro loans for agricultural or home improvement activities.

Associated Advisory Engagement

 The investment is not currently associated with any advisory services. However, IFC Advisory Services can offer guidance to formulate Peo’s digital strategy, as well as product development, risk management and responsible finance certification.                                                 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation