IFC as implementing entity of the IDA20 Private Sector Window Blended Finance Facility is expected to provide US$1.7 million equivalent in Euros in the form of a subordinated co-investment (“blended finance co-investment”) as part of its support to IFC's Africa Middle East Central Asia and Pakistan Venture Capital Platform. Venture capital market for early-stage companies is limited, particularly in Francophone Africa. ANKA is one of the only brands doing C-Commerce from Africa to the rest of the world through an all-in-one platform. The blended finance co-investment will enable IFC to invest in the company and in turn help the company execute its scale up plans that are expected to have positive social and human capital effects by supporting job creation in Francophone Africa. The level of concessionality (i.e., “subsidy”) provided by the blended concessional finance co-investment is estimated to be 6.7% of the total project cost. The total cost of the project is US$3 million. This estimate is based on the difference between (i) a “reference price” (either a market price if available; the price calculated using IFC’s pricing model, which comprises three main elements: risk, cost and profit; or a negotiated price) and (ii) the “concessional price” being charged by the blended concessional finance co-investment. As is the case with all of IFC’s blended concessional finance co-investments, this project has been assessed against the Enhanced Blended Concessional Finance Principles for DFI Private Sector Operations adopted by IFC and more than 20 other DFIs in 2017. Further information on these Enhanced Principles, IFC’s blended finance approach and governance, and historical information on estimated subsidy levels in IFC’s blended finance portfolio can also be found at: www.ifc.org/blendedfinance

1.70 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	1.70
Equity

* These investment figures are indicative

IFC anticipates that the Project would result in improved access to markets for creative entrepreneurs, potentially resulting in improved livelihoods, by scaling a social e-commerce platform that connects creative entrepreneurs in West Africa with buyers from international markets through quality logistics services, secured means of payments and improved digital literacy. Beyond the Project, this investment has the potential to strengthen the integration of creative industries in Francophone Africa into global value chains, via enabling framework channels, as successful expansion would enable creative products from the target countries to become more visible in international markets, thereby resulting in increased creative exports.

IFC’s additionality in this Project is both financial and non-financial. Financial additionality consists in the provision of patient capital not readily available for the Company due to the limited availability of venture capital in Cote d’Ivoire and other target markets. Non-financial additionality involves the provision of knowledge, innovation and capacity building as well as Corporate Governance and E&S standard setting.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.