Gozem Vehicle Financing Platform (IFC-45714)

  • Togo
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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
Jun 14, 2018
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.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 150.00 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 Jan 9, 2023

Disclosed by Bank Sep 14, 2022

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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.

According to the Bank’s website, Gozem Pte Limited is a Singapore based company with mobile transport reservation application that connects end-users (passengers and merchants) to transport providers with operations using motorbike taxis (moto-taxis). Gozem currently operates in Benin, Cameroon, Gabon, and Togo. IFC is partnering with the Company to develop the Gozem Vehicle Financing Platform and to implement Phase 1 of the Platform in Togo and Benin, targeting 6,000 drivers, of which up to 10% are anticipated to adopt the use of electric-bikes (“e-motor bikes”). The Platform will take the form of a special purpose company (Gozem Money Singapore). Financing from this special purpose company will be deployed to the two company’s subsidiaries in Benin and Togo (Gozem Money Benin and Gozem Money Togo respectively).

IFC and Gozem will collaborate to implement the following scope for the Pilot project which would involve the

(i) development and implementation of a viable and scalable structure for the Platform, including simplifying the overall corporate structure where possible, improving the governance structure of Gozem, reviewing management skills necessary for Gozem to achieve its expansion plans, development and implementation of a vehicle procurement and deployment plan;

(ii) development and implementation of market expansion plans for the Platform in Benin and Togo,

(iii) market, legal, environmental, social, and regulatory review of future markets for the Platform including but not limited to Gabon and Cameroon,

(iv) implementation of the environmental and social action plan and insurance requirements, and the deployment of capital to partially finance the procurement of up to 6,000 moto-taxis (including e-bikes) for the Project.       

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - GOZEM PTE. LTD. Client -

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.

Gozem Pte Ltd
Gregory Costamagna
 +65 9640 9444
11 Irving Place #09-01 Singapore 369551


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