BOA DRC BCB RSF (IFC-49308)

Countries
  • Congo, Democratic Republic of
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
Approved
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 28, 2024
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
Bank of Africa Democratic Republic of Congo (DRC); Banque de Credit de Bujumbura
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (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.
Project Cost (USD)
$ 60.00 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 14, 2025

Disclosed by Bank Mar 28, 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 proposed project entails the provision of a 6-year Risk Sharing Facility (“RSF” or the “Facility”) in the amount of US$30 million to cover two Bank of Africa (“BOA”) subsidiaries in IDA and FCS countries – namely Bank of Africa Democratic Republic of Congo (DRC) and Banque de Credit de Bujumbura; together the Beneficiaries for a target portfolio of SME loans in the amount of up to US$60 million equivalent. Under this project, IFC will be supporting the expansion of this regional banking group’s SME lending across sub-Saharan Africa. This project is expected to be processed under the BOA RSF Program (the Program), a programmatic approach to risk sharing which aims to enhance and strengthen the capacity of BOA participating affiliates for risk taking and financing of SMEs in eligible countries in Africa. 

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 entails a risk sharing facility to Bank of Africa Democratic Republic of Congo (BOA-DRC) and Banque de Credit de Bujumbura (BCB), two affiliates of Bank of Africa Group (BOA Group) to support lending to SMEs. The SME sectors supported by the banks primarily include trade, services, construction, and hotels and restaurants. The E&S risks and impacts associated with the supported SME activities are considered limited and readily addressed through mitigation measures. The overall portfolio risk is considered medium. Thus, 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 RSF will be up to US$30 million and will cover 50% of the credit risk taken by the two BOA Beneficiaries on portfolios of SME facilities which can amount to up to US$ 60 million equivalent in aggregate.

IFC's Investment as Approved by the Board: Guarantee 30.00 million (USD)

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.

BOA Group is a leading regional financial services group based and operating in sub-Saharan Africa. The group was first incorporated in 1982 with its first operation established in Mali and has been building a pan-African banking franchise in 16 countries. BMCE, the third largest bank in Morocco, acquired 35% of the Group in 2008, hence becoming the largest and controlling shareholder. Six BOA subsidiaries are listed on the Bourse Régionale des Valeurs Mobilières, the regional stock exchange in the West African Economic and Monetary Union.


Contact Information
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BOA Group
Laura TRAN DUC MINH
Head of Investments
00212522585950
ltran@boaholding.com
Lot Mandarona, Lot n° 1, Immeuble Promoffice - 20270 Casablanca. Sidi Maarouf
www.bank-of-africa.net/

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