PROJECT

Projects

Summary of Investment Information

Project Number

50300

Company Name

BAOBAB SENEGAL

Date SPI Disclosed

Jun 27, 2025

Country

Senegal

Region

Africa

Projected Board Date

Oct 10, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jan 18, 2026

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Nov 11, 2024
Signed : Nov 19, 2024

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

The proposed project consists of an anchor investment of up to XOF5 billion (US$8.4 million equivalent) in Baobab Senegal (BBSN)’s Sustainable Bond Issuance (XOF20 billion or about US$33.7 million), the first from the private sector in the WAEMU. This investment will take the form of an unfunded risk participation for the African Local Currency Bond Fund Limited SICAV-RAIF (ALCBF or the Fund), a dedicated pan-African structured debt fund and an IFC client that will invest on IFC's behalf. At least 40 percent of the Bond proceeds will support women-owned/led MSMEs (WMSMEs) (the Project). Despite the unfunded participation through ALCBF, IFC will have direct recourse to BBSN in the event of a material policy breach.

Associated Advisory Engagement

                                    

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation