The proposed Project entails an 8-year Risk Sharing Facility with IFC guaranteeing the credit risk of Bank of Africa Senegal for up to US$7.2 million in XOF equivalent, on a portfolio of loans from the Bank to eligible Very Small, Small and Medium Enterprises, Cooperative, smallholder farmers in the rice value chain in Senegal, of up to US$8.0 million in XOF equivalent. Such loans shall be originated via agCelerant, an agri-tech company based in Senegal, which aggregates smallholder farmers into an organized value chain utilizing its proprietary agency network to profile farmers, provide necessary inputs and capacity training, and a secured off-take for the rice production. The Project is expected to be supported by the Private Sector Window of Global Agriculture and Food Security Program, a multilateral program financed through contributions by several governments administered by IFC, in its capacity as implementing entity, to support agriculture-related projects in developing countries.
IFC RISK RATING: FI-2
The Bank is part of Bank of Africa, a leading regional financial services group in sub-Saharan Africa. The Group was first incorporated in 1982 in Mali and has been building a pan-African banking franchise in 17 countries.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Bank of Africa (BOA) Group S.A.||Client||-|
Mohamed Amine Ellakhdi
Deputy General Manager
Immeuble Elan, Route de Ngor, Zone 12 Almadies. BP 19992 RP, Dakar, Senegal.
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