PROJECT

Projects

Summary of Investment Information

Project Number

46502

Company Name

NIMBLE CREDIT FACILITY 2 (RF) PROPRIETARY LIMITED

Date SPI Disclosed

May 13, 2022

Country

Southern Africa Region

Region

Africa

Projected Board Date

Jun 15, 2022

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 16, 2022

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Jun 13, 2022
Signed : Jun 29, 2022
Invested : Dec 14, 2022

Sector

Distressed Assets SPV

Project Description

The proposed project entails setting up a new investment regional facility in Sub-Saharan Africa (DARP SA Nimble) under IFC’s Distressed Assets Recovery Program (DARP), to acquire and resolve unsecured retail non-performing loans (NPLs) in South Africa, Namibia, Lesotho, Eswatini, Botswana and Kenya (Target Markets) as well as single asset investments in South Africa. The proposed facility will have US$148 million equivalent in ZAR in available committed capital, of which IFC will commit up to US$40 million as senior debt, Nimble Group (Pty) Ltd (Nimble) will commit up to US$35 million as junior debt, and other senior lenders will provide the balance (the Project).                                                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation