Akola PBC (DFC-2020-AKOLAPBC)

Countries
  • Uganda
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Akola PBC
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 6.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jun 27, 2020


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Project Description

Akola is an impact jewelry manufacturer that employees women in rural Uganda. Akola is seeking a $5,000,000 OPIC loan to fund new factory expansion and working capital needs, including hiring additional women in Uganda, and to refinance outstanding short term debt.  The fundamental mission of the Project is to bring skills, training, and employment to women and their families that are at or near extreme levels of poverty and unable to provide basic needs for their family. The Project Company accomplishes this mission by employing
women as jewelry craftmakers, paired with vocational and soft skills training. The Project is aimed at assisting the movement of women out of extreme poverty into a sustainable long term path towards self-sufficiency. 

Investment Description
  • US International Development Finance Corporation (DFC)
Contact Information

No contact information provided at the time of disclosure