The objective of this project is to support trade finance activities. This is critical at a time when the traditional providers of Trade Guarantee lines have withdrawn from the African market due to increased regulation.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
Ecobank Ghana Limited "EGL" is the second largest subsidiary of pan African banking group Ecobank Transnational Incorporated (“ETI”). EGL is also a top 5 /Tier 1 bank in Ghana with a strong track record in trade finance.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|AngloGold Ashanti Ltd||Parent Company||Mining||owns||Geita Mine (Ashanti AngloGold)||Client||Mining|
|Ecobank Group||Investor||Finance||invests in||AngloGold Ashanti Ltd||Parent Company||Mining|
|Ecobank Group||Investor||Finance||invests in||Cocoa Touton Processing Co||Parent Company||Agriculture and Forestry|
|Ecobank Group||Investor||Finance||invests in||Geita Mine (Ashanti AngloGold)||Client||Mining|
|Ecobank Group||Investor||Finance||invests in||Ghana Cocoa Board(Ghana)||Parent Company||Agriculture and Forestry|
|Ecobank Group||Investor||Finance||invests in||Ihs Cote Divoire Sa||Parent Company||Infrastructure|
|Ecobank Group||Investor||Finance||invests in||La Societe pour le Dvlppement||Parent Company||Agriculture and Forestry|
|Ecobank Group||Investor||Finance||invests in||Nestoil PLC||Parent Company||Mining|
|Ecobank Group||Investor||Finance||invests in||Puma Energy||Parent Company||Mining|
|Ecobank Group||Investor||Finance||invests in||Puma Energy Corporate Facility 2018||Client||Mining|
|Ecobank Group||Investor||Finance||invests in||Volta River Authority||Parent Company||Energy|
|Puma Energy||Parent Company||Mining||owns||Puma Energy Corporate Facility 2018||Client||Mining|
ACCESS TO INFORMATION
As part of FMO’s ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: firstname.lastname@example.org.
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.