PROJECT

Projects

Summary of Investment Information

Project Number

47159

Company Name

BANK OF AFRICA GROUP SA

Date SPI Disclosed

Nov 11, 2022

Country

Africa Region

Region

Africa

Projected Board Date

Dec 16, 2022

Environmental Category

FI-2 - Limited

Status

Pending Disbursement

Last Updated Date

Jul 4, 2025

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Dec 16, 2022
Signed : Aug 14, 2023

Sector

Commercial Banking - SME Finance

Additional Project Attributes

Blended Finance

Project Description

The proposed project entails the provision of a 8-year Risk Sharing Facility (“RSF” or the “Facility”) in the amount of US$77 million to cover ten Bank of Africa (“BOA”) subsidiaries in IDA and FCS countries – namely Bank of Africa Benin, Bank of Africa Burkina Faso, Bank of Africa Cote d’Ivoire, Bank of Africa Ghana, Bank of Africa Madagascar, Bank of Africa Mali, Bank of Africa Niger, Bank of Africa Senegal, Bank of Africa Tanzania, and Bank of Africa Togo, together the Beneficiaries for a target portfolio of SME loans in the amount of up to US$154 million equivalent. Under this project, IFC will be supporting the expansion of this regional banking group’s SME lending across sub-Saharan Africa.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation