According to the IFC, the Project consists of an unfunded Risk Sharing Facility of up to 3 years and an up to US$15 million IFC investment in local currency equivalent, providing a 50% coverage of a portfolio of up to US$30 million mostly including short term working capital loans to micro enterprises with tenors ranging from 30 days to up to 180 days to be originated by Orange Bank Africa leveraging on its existing ‘Tik Tak’ digital credit and savings application. The RSF will support the scaling of OBA’s lending to Micro, Small and Medium Enterprises including but not limited to agents and merchants in Côte d’Ivoire and Senegal, 2 countries of the West African Economic and Monetary Union region.
The IFC categorized the project as FI-3.
As stated by the IFC, Orange Bank Africa is owned by the Orange Group (85% ownership) based in France, the 8th largest global telecoms brand worldwide with over 250 million customers and a presence in 26 countries across five continents – mainly in Europe, Africa, and the Middle East. OBA also has minority ownership by NSIA Group (15%), an established financial services group with 26 years of history and uniquely positioned on two major segments: insurance and baking, and with a presence in 12 countries in West and Central Africa
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General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - Orange Bank Africa SA:
Mr Jean-Louis Menann-Kouame - Chief Executive Officer
Address: Immeuble Baini, rue Louis Lumiere, Zone 4, Marcory, Abidjan 04 BP 2760 Abidjan 04 – Côte d’Ivoire
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