CI Netis (IFC-47640)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Benin
  • Burkina Faso
  • Congo, Democratic Republic of
  • Ethiopia
  • Gabon
  • Ghana
  • Ivory Coast
  • Kenya
  • Morocco
  • Niger
  • Nigeria
  • Rwanda
  • Tanzania
  • Togo
  • Uganda
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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 15, 2023
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
Netis Group
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
  • 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)
$ 12.00 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.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS May 3, 2023

Disclosed by Bank Apr 21, 2023

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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.

As stated on the bank's website, to support the expansion of telecom networks in the Africa region, IFC has agreed to participate in a minority equity investment in Netis together with Amethis Fund II, an IFC investee fund. IFC’s proposed equity investment will total US$12 million for an aggregate 12.9% shareholding.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

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 Actor Relationship
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.

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.

As stated by the IFC, the General Partner for the Luxembourg-based Fund is Amethis Fund III Management S.à.r.l. The Fund is a SICAR S.C.A. registered under the laws of Luxemburg. The Fund Manager, Amethis Investment Fund Manager S.A, is registered under the Luxembourg Law and authorized and supervised by the Luxembourg Commission de Surveillance du Secteur Financier.

The Netis Group is a service provider for telecom networks, including installation and maintenance services for mobile network operators, telecom tower companies, fiber optics players, and original equipment manufacturers (https://netisgroup.net). The Company doesn’t own any telecom assets and currently provides maintenance services to over 21,000 telecom sites, over 7,000 km of fiber optic cables, and has built over 4,000 mobile telecom sites. Netis operates in Morocco and Sub-Saharan Africa (Ghana, Togo, Uganda, Gabon, Tanzania, Nigeria, Rwanda, Burkina Faso, Ivory Coast, Kenya, Niger, DRC, Ethiopia, and Benin). 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Netis Group Client Communications

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.

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 - Amethis Investment Fund Manager S.A.

Luc Rigouzzo - Managing Partner
Phone: +33 (0) 1 56 68 85 60
Email: luc.rigouzzo@amethisfinance.com
Website: www.amethisfinance.com 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

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

How it works

How it works