INVEST IN AFRICA (FMO-48658)

Countries
  • Ghana
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 25, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Invest in Africa (IIA)
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 0.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 0.17 MLN
Converted using 2017-12-25 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


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Project Description

WHO IS OUR CLIENT

Invest in Africa (IIA) was launched as a not-for-profit company to unite businesses across sectors to help them deliver more sustainable investment into Africa and local SMEs. IIA creates innovative programs to support trade and investment into local economies and partnerships with local SMEs giving them greater access to skills, markets and finance. The beneficiaries of this project in this instance are Ghanaian SMEs, many of which are clients of FMOa€™s clients in the country, including Fidelity Bank and Ecobank.

FUNDING OBJECTIVE

To introduce a Business Skills Excellence Program (BSEP) in Ghana. To achieve this IIA will link SMEs on the programme with global consultants to embed the right strategies to make them locally, regionally and internationally competitive. To do so, IIA is has partnered with EY to provide expert consultants with SME advisory experience to develop bespoke systems and structures to support SME management teams as they grow their business.

WHY WE FUND THIS PROJECT

This project is aligned with FMOa€™s aim to stimulate economic development by ensuring the SMEs have the capital and opportunity needed to grow. It is complementary in so far is it enables the SMEs to develop their ability to ensure growth.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.