DOPAY INTERNATIONAL HOLDINGS LTD (FMO-54976)

Countries
  • Egypt
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
Proposed
Bank Risk Rating
C
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.
Borrower
Dopay International Holdings Ltd.
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 1.13 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 1.00 MLN
Converted using 2018-11-13 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Dec 4, 2018

Disclosed by Bank Nov 13, 2018


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Project Description

Established in 2014, dopay is a start up technology company providing innovative solutions to enhance financial inclusion. FMO aims to support dopay in growing its Egyptian activities and replicating the business in other MENA markets as well as further business development. FMO will issue a convertible loan of up to EUR 1million.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

Dopay International Holdings Ltd. offers Egyptian SMEs a digital payroll platform that helps remove cash from their operations and improves payroll payment efficiency. Employees receive their salary in personal dopay accounts, can manage their financials and benefit from other products and services offered via a mobile app and gain access to their salary from ATMs, point-of-sale or make online purchases with a debit card.

Contact Information

*Contact information not provided at the time of disclosure*

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