49116 - Rawbank SL

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Summary of Investment Information

Project Number

49116

Company Name

RAWBANK SA

Date SPI Disclosed

Nov 8, 2024

Country

Congo, Democratic Republic of

Region

Africa

Projected Board Date

Dec 9, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jan 4, 2026

Department

CF3EA - Regional Industry - FIG Africa/FIG East Africa

Industry

Financial Markets

Previous Events

Approved : Jun 6, 2025
Signed : Jul 1, 2025
Invested : Dec 31, 2025

Sector

Commercial Banking - General

Project Description

The proposed project consists of a senior loan of up to US$300 million with a tenor of up to 5 years (2-year grace) to Rawbank (“RB” or the “Bank”) in the Democratic Republic of the Congo (DRC). The proposed investment consists of: (i) an up to US$50 million loan for IFC’s own account, and (ii) up to US$250 million to be mobilized from B lenders/parallel loan on best effort basis. The purpose of the proposed IFC A Loan is to support the Bank’s lending to micro, small, and medium enterprises (MSMEs) including women owned MSMEs in DRC while the purpose of the B loan is to support the Bank’s lending program to corporates in key sectors provided that the eligible sub-loans to eligible sub-borrowers are not engaged in any activities on the IFC Exclusion list and are subject to the IFC environmental and social standards compliance.

Associated Advisory Engagement

Rawbank signed an Advisory Services (“AS”) engagement with IFC in June 2024 on climate finance portfolio review. The Bank has also signed two other advisory engagements in September 2024: (i) Agri-finance and (ii) Women owned MSMEs finance.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	50.0
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Straight Senior Loan	Loans to MSME (mix of Micro and SME)
Syndications	Loans to MSME (mix of Micro and SME)

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

Given that the proposed Project will increase IFC’s existing financing support to Rawbank to enable the Bank to expand its MSME portfolio with the same instrument as the previously approved investment, the Projects will share the same development impact thesis of increased access to finance for MSMEs, including WSMEs. In a context where the MSME Finance Gap is US$ 11.6 billion, equivalent to 27% of GDP, the Project aims to enhance access to finance for MSMEs by providing Rawbank much-needed longer term financing to assist MSMEs in overcoming liquidity constraints that are limiting investment and help grow their businesses.

IFC is providing Rawbank with 5-year term senior loan - financing at a tenor not readily available in the market. IFC will also mobilize additional financing through a B-loan. Rawbank's funding currently is almost entirely made up of customer deposits and short-term liabilities. IFC’s investment and resource mobilization will help diversify the Rawbank's funding sources and help Rawbank finance MSMEs as well as Corporates in critical sectors of the economy (Agriculture, Housing and Climate).

Indicator	Metrics	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Number of Outstanding Loans, SMEs	loans	Not Available	Not Available	Not Available
SME share of total loan portfolio	%	Not Available	Not Available	Not Available
Value of Outstanding Loans, SMEs	USDMill	Not Available	Not Available	Not Available
Board Composition Total (#)	number	Not Available	Not Available	Not Available
Board Composition Women (#)	number	Not Available	Not Available	Not Available
Direct Employment (#) Operations And Maintenance	individuals	Not Available	Not Available	Not Available
Female Direct Employment (#) Operations And Maintenance	individuals	Not Available	Not Available	Not Available
Number of Senior Management Positions	individuals	Not Available	Not Available	Not Available
Number of Women In Senior Management	individuals	Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The project will support the Bank’s financing to SME & Strategic corporates. The Bank’s supported portfolio includes exposures to sectors such as services to mining, commerce, water & electricity, construction and transportation. As such, the portfolio supported under the project is expected to comprise business activities with limited adverse environmental and social risks or impacts that are few in number, generally site-specific, largely reversible and readily addressable through mitigation measures. As part of the project, the Bank will be required to screen eligible SMEs and Strategic Corporates against the IFC Exclusion List, national E&S laws and regulations in DRC and the IFC Performance Standards (applicable to the Strategic Corporates). The project will not support Coal related activities, mining activities and Higher Risk Transactions that may include: a) involuntary resettlement, b) risk of adverse impacts on Indigenous Peoples, c) significant risks to or impacts on environment, community health and safety, biodiversity, cultural heritage, or d) significant Occupational Health and Safety risks.
The main E&S risks and impacts of this project relate to the ability of the Bank to identify and manage the potential E&S risks and impacts associated with the lending activities to SMEs and Corporate Strategic, as well as the bank’s labor practices. The E&S risks and impacts associated with these financing activities are typically low to medium environmental and social risks such as waste management, pollution prevention, labor and working conditions and occupational health and safety, etc.

Rawbank has an E&S management system (ESMS) for assessing E&S risks and impacts associated with its SME lending activities, and a designated E&S officer. The ESMS details the internal process steps for E&S risk management, including categorization, E&S due diligence, inclusion of E&S conditions into loan agreements, and monitoring. As part of this project, Rawbank will be required to further enhance its E&S policy and ESMS essentially to: (i) develop an E&S policy and procedure applicable to Strategic Corporates in line with the E&S requirements (ii) screen high risk transactions including agriculture commodities), (iii) develop Terms of Reference for the E&S DD of the Strategic Corporates to be performed by the external independent E&S consultant, (iv)develop an E&S internal reporting, (v) develop procedures for E&S monitoring and reporting of sub-clients and (vi) enhance the external grievance mechanism. It will also be required to enhance the E&S capacity by training the staff and hiring an independent consultant to review the E&S Management System, assist in the training and implementation of the policies and procedures and to complete the E&S due diligence for the Strategic Corporate transactions. The Bank has a dedicated HR team and established HR policies and manuals generally in line with IFC's labor standards under PS2: Labor and Working Conditions. The Bank is required to further enhance the HR procedures with additional provisions including antiharassment provisions, antidiscrimination provisions and a formal internal grievance mechanism.

S.no	Title	Anticipated Completion Date
1	Reinforcing E&S capacity	12/15/2024
2	Staff training	12/15/2024
3	Revise the E&S policy	12/23/2024
4	Enhance the ESMS	12/23/2024
5	Enhance HR Manuals and procedures	12/23/2024

Contacts

For Inquiries About the Project, Contact

Point of contact: Laurence Feza

Title: Head of DFI

Telephone: +243996016300

Email: laurence.feza@rawbank.cd

Mailing Address: 12/66 crossing of avenues Katanga and Colonel Lukusa, Kinshasa, DRC

Website: rawbank.com.

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