PROJECT

Projects

Summary of Investment Information

Project Number

46875

Company Name

BAYPORT FINANCIAL SERVICES ZAMBIA LIMITED

Date SPI Disclosed

Feb 7, 2023

Country

Zambia

Region

Africa

Projected Board Date

Mar 8, 2023

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Sep 2, 2023

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Jun 15, 2023
Signed : Jun 29, 2023
Invested : Aug 30, 2023

Sector

Microfinance and Small Business - Non Commercial Banking

Additional Project Attributes

Blended Finance

Project Description

 The proposed project is a 5-year senior secured loan, with a 2-year grace period, of up to US$20 million in ZMW equivalent (approx. ZMW340 million) to Bayport Financial Services Limited (“Bayport” or “the Company”), a leading NBFI in Zambia. The Project will be processed under IFC’s Base of the Pyramid (“BOP”) Program to support the Company in increasing access to finance and scaling up lending operations to un(der)served individuals in Zambia for productive uses (the “Project”) and will be supported by the IDA-Private Sector (“PSW”) Blended Finance Facility (“BFF”) and the IDA-PSW Local Currency Facility (“LCF”).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation