49623
Fonds Commun de Titrisation de Creances KEUR SAMBA
Jul 7, 2025
Western Africa Region
Africa
Jun 30, 2025
FI-2 - Limited
Active
Jul 27, 2025
Regional Industry - FIG Africa
Financial Markets
Approved : Jun 30, 2025
Signed : Jul 7, 2025
Invested : Jul 18, 2025
Commercial Banking - SME Finance
Blended Finance
The Project entails IFC being an anchor investor for up to XOF17 billion (c.US$29.5 million) into the senior tranche of a new compartments in the “FCTC KEUR SAMBA”, a securitization fund and regulated bankruptcy-remote a special purpose vehicle (SPV) established in the West Africa Economic and Monetary Union (WAEMU) by BOAD Titrisation (the Arranger and SPV Manager) and NSIA Banque Côte d’Ivoire (The custodian). This SPV will issue a bond for a total issuance amount of XOF52 billion (approximately US$90.4 million) and use the proceeds of the issuance to essentially acquire loans receivables from MSMEs and individual borrowers originated by NSIA Banque Benin (or the ‘’Bank’’) and its branch operations in Senegal and Togo, on a true sale basis. The resulting ABS will have a maturity of 5 years and be publicly placed in on the BRVM. NSIA Banque Benin shall then use the funds to expand its lending capacity to MSMEs across Benin, Togo, and Senegal, with at least 25 percent of the proceeds supporting women-owned/led MSMEs (WMSMEs) and 10 percent supporting Climate Finance. The Project is expected to be supported by the International Development Association (IDA) Private Sector Window (PSW) Local Currency Facility (“IDA-PSW LCF”)”
A comprehensive MSME Banking and Risk Management initiative with the Bank, along with a gender finance project, is set to launch by June 2025. The gender finance project aims to advance financial inclusion for women and boost their economic participation across four countries.
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