Africa Dvpt III (IFC-41790)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
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.
Voting Date
Dec 7, 2018
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
AFRICAN DEVELOPMENT PARTNERS III LP
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Fund
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 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)
$ 800.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 14, 2019

Disclosed by Bank Oct 31, 2018


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Project Description

The proposed project is for IFC to commit up to US$20 million, not to exceed 20 percent of total commitments, to African Development Partners III L.P. (the “Fund”), a 10-year closed-end fund targeting commitments of US$800m. The Fund has a pan-African generalist strategy and will make growth equity investments in established and growing companies with an emphasis on those benefitting from Africa’s growing middle class. The IFC Global Emerging Markets (“GEM”) Fund, managed by IFC Asset Management Company (“AMC”) is considering committing up to US$50 million to the Fund alongside IFC, not to exceed 20% of total commitments.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Development Partners International (DPI) was established in 2007 and currently has US$1.1 billion of assets under management and has raised two pan-African private equity funds; inaugural fund African Development Partners I (“ADP I”) and African Development Partners II (“ADP II”).

Contact Information

No contact information provided at the time of disclosure

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/