TAKURA II FEEDER. (FMO-31740)

Countries
  • Zimbabwe
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
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
B
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.
Voting Date
Mar 31, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Takura II
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 4.46 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported USD 3.75 MLN
Converted using 2017-12-25 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


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Project Description

WHO IS OUR CLIENT

Takura II is a generalist private equity fund making investments in small- and medium-sized enterprises in Zimbabwe and, opportunistically, in pre-/transition economies of Southern Africa.

FUNDING OBJECTIVE

The fund expects to make 10-15 investments between US$3-7.5 million in various sectors with a special focus on agri-business/processing, fast moving consumer goods, ICT, health/pharmaceuticals, mining services and tourism. In addition to providing capital, the fund will also provide valuable intellectual capital, particularly in finance and reporting, as well as environmental, social and governance frameworks.

WHY WE FUND THIS PROJECT

The investment has high development impact, supporting a first-time fund manager in a frontier market, making investments in small- and medium-sized enterprises that will in turn create jobs, prosperity and government revenue. FMO plays a specific role in supporting the funda€™s environmental and social management system and striving for best practices in environmental, social and governance matters.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.