According to the bank's website, this project aims to boost the growth of Africa’s nascent mezzanine finance industry by providing much needed capital to African mid-sized companies, many of which are or have been negatively impacted by the COVID-19 pandemic. The Project will support high-growth, mid-market companies, some of which will have a portion of their revenues in hard currency.
This Project supports market creation by strengthening the private credit ecosystem and increasing funding market activity in Africa. By supporting Vantage Capital, which has shown itself able to demonstrate the continued viability of the private credit market in a difficult economic environment, IFC anticipates that its financing will continue to strengthen the competitiveness of the private credit market and will signal to other fund managers that it is viable to invest in a region suffering from a lack of investor confidence.
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