SMEV Adiwale I (IFC-45300)

Countries
  • Burkina Faso
  • Ivory Coast
  • Mali
  • Senegal
Geographic location 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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 10, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
ADIWALE PARTNERS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 14, 2024

Disclosed by Bank May 20, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

This project will focus for a growth-oriented SMEs in Francophone West Africa, targeting key sectors: Consumer, Business Services and Manufacturing to support the Fund Manager’s capabilities around i) GP institutionalization ii) value creation strategies and execution and iii) exit preparedness for countries: Cote d’Ivoire, Senegal, Mali & Burkina Faso (primary focus) as well as Benin, Togo and Guinea (secondary focus).    

The Project is expected to align with the AIMM Rating for the SMEV Envelope.

IFC anticipates that the Project would result in increased access to growth capital and value creation for SMEs in Francophone West Africa, as well as build capacity of a local Fund Manager to professionalize and successfully manage its funds. Based on the Fund's track record and pipeline, it is expected to invest in mid-cap companies in IDA/FCS countries and build the capacity of their internal functions and governance.

Beyond the Project, this investment has the potential to develop the nascent private equity market in Francophone West Africa, through demonstration effects. IFC's equity and advisory services demonstrate confidence in this Fund Manager and support of a model that branches out from a traditional focus on Anglophone West Africa, thereby signaling the viability of the PE asset class in frontier markets in Francophone West Africa to other PE investors.

                                       

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the IFC, the Fund is managed by Adiwale Partners, a Mauritius limited company established by Jean-Marc Savi de Tové and Vissého Gnassounou.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Adiwale Partners
Jean-Marc Savi de Tové / Vissého Gnassounou
Managing Partners
+225 01 01 04 75 75 / +225 01 01 53 88 25
jmsavidetove@adiwale.com

ACCESS TO INFORMATION

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If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

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How it works