SME V - Zoscales and Cepheus (IFC-603645)

Countries
  • Ethiopia
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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Sep 10, 2019
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.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
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 Jan 26, 2022

Disclosed by Bank Sep 30, 2021

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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.

SME V Ethiopia will assist the Zoscales and Cepheus Funds by providing resources and expertise to strengthen the Fund manager teams and systems, advise on better deal generation and structuring and focus on investment strategy, team capacity, and pipeline development. The Funds' technical assistance will also help SMEs gain access to the Fund opportunity and build portfolio value for overall performance. This will target upgrades to SME's financial and management systems, as well as enhancing SME's technical expertise for competitiveness, based on lessons learned from other SME funds.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The SME V Ethiopia project is expected to achieve significant development impact for Ethiopian businesses through: enhanced access to risk capital; operational efficiency; growth in revenues and profitability; improved governance and E&S standards. IFC's advisory engagement will focus on: i) helping the Fund Manager's operations and systems by leveraging expertise and support to both Zoscales and Cepheus fund managers on suitable systems, deal selection and structuring, portfolio performance, value addition and exit strategies. to cover the target country scope; ii) supporting the Fund manager with resources and expertise to improve SME performance and compliance. The Impact will be measured as financing facilitated to SMEs; Number of Jobs supported and revenues generated by the SMEs.

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

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.

Project contacts not available at the time of disclosure.

 

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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

How it works

How it works