Listed entity with multiple shareholders

IFC Africa Capitalization Fund, Ltd., IFC Capitalization (Equity) Fund, L.P. and IFC ALAC Holding Company II, managed by IFC Asset Management Company LLC, potential investments in the group would be up to US$100 million in equity.

The group operates across Africa with presence in Europe and the Middle East.

The Project is expected to make a significant contribution to the financial sector and economic development in SSA. The Project''s expected development impact in countries and regions where the Group is present is summarized below:
(i) Increase Access to Credit: The proposed investments in the Group are expected to improve access to credit in SSA as they will enable the bank to maintain and/or grow credit provision to the domestic economies where it operates, including to underserved market segments (e.g., agribusiness, climate change, SMEs and microenterprises);
(ii) Develop the Financial Sector in IDA and Conflict-Affected Countries: the Group has demonstrated its commitment to IDA and post-conflict countries by strengthening and/or establishing operations in some of the most difficult environments, making it a pillar of financial sector stability in those countries and a link between them and their more stable neighbors;
(iii) Create/maintain employment : By helping the Group to better serve its clients in the countries within which it operates, the Project will also help generate job opportunities for the bank''s clients thereby creating or maintaining employment opportunities for more people in the region.

IFC''s additionality in the Project is to provide a value-adding and innovative investment package to the Group that will support its ongoing consolidation and also strengthen the Group''s operations across its network of subsidiaries. IFC''s additionality can be summarized as follows:

(i) IFC continues to play a catalytic role by attracting IFIs and other private investors to who see IFC''s presence as a stamp of approval for the Group;
(ii) In the absence of a dominant shareholder, IFC also plays an anchor and sounding board role towards the Group as it continues down the path of strong growth and maturity;
(iii) IFC''s additionality also stems from its ability to continue to deploy solid monitoring and processing capabilities to fully assess the Group, derived from IFC''s extensive coverage and understanding of the SSA financial sector; and
(iv) Finally, through our joint venture capabilities, IFC is able to offer a unique investment and advisory services package that combines knowledge from several industries (e.g. agribusiness) and strong strategic focus on SSA with a large, diversified and flexible support package to the Group.

The project has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure. The bank’s portfolio includes substantial lending to corporate clients in high risk sectors with potential significant adverse environmental or social risks and impacts. The Applicable Performance Requirements for the project are the Exclusion List, the applicable National Laws in the countries where the group’s subsidiaries are located and the Performance Standards.