MFP-SME ALT Debt (IFC-49245)

Countries
  • 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
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."
Borrower
Africa Lease Togo S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.00 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.
Project Cost (USD)
$ 30.00 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 May 25, 2025

Disclosed by Bank Apr 12, 2025

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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, the project consist of an unsecured senior loan of up to US$30 million equivalent in Euro, with a maturity of up to 5 years, including a grace period of 12 months, of which IFC's Own Account (O/A) is US$15 million equivalent and the remaining US$15 million equivalent is to be mobilized from other lenders to Africa Lease Togo S.A. (ALT), a new IFC client and largest leasing company in Togo.

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.

The project consists of a senior loan to African Lease Togo S.A. (ALT) that will help ALT scale up its leasing and factoring services to micro, small, and medium enterprises (MSMEs) in Togo. ALT provides financial leasing of machinery (for factories), vehicles (mostly lorries, cars), tractors and agribusiness equipment and special machinery for construction works. It provides the necessary financing to lessees and does not own, maintain nor operate the leased physical assets. The E&S risks and impacts associated with the supported MSME asset class, typically include occupational health and safety, pollution prevention, waste and wastewater management, labor and working conditions issues, among others and considered limited and readily addressed through established mitigation measures. Therefore, the Project has been categorized as FI-2 in accordance with IFC’s Sustainability Policy.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed investment includes a senior loan facility of up to US$30 million equivalent in EUR, where IFC’s O/A is US$15 million and the remaining US$15 million is expected to be mobilized from other lenders.

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 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.

Established in 2018, Africa Lease Togo S.A. (ALT) is the Togolese subsidiary of African Lease Group. ALT provides diverse financial services to its clients such as equipment finance and working capital solutions through its lease and factoring platforms offering solutions such as ALT MEDICO & ALT AUTO, as well as digital payment services to MSMEs, corporations, and individuals.


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.

African Lease Togo
Mr Toussaint SOSSOU
CEO
+22822236900
toussaint.sossou@africanlease.com
01 BP 16 2, Avenue Sylvanus Olympio, Lomé, Togo
https://africanlease.com/african-lease-togo/

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

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