Belgian Investment Company for Developing Countries

The Belgian Investment Company for Developing Countries (BIO) is an economic development agency located in Brussels, Belgium, founded in 2001. Its primary goal is to foster a robust private sector in developing and emerging countries, facilitating access to sustainable growth and development. BIO directly invests in private sector projects, contributing significantly to the socio-economic development of the host countries. The agency's mandate emphasizes specific geographical targets, diverse financing tools, and a strong focus on the impact of its investments on development, aligning with international development goals. The management of BIO's assets is overseen by its executive management team, ensuring that its initiatives effectively support sustainable economic progress in the regions it serves.

Carole Maman

Chief Investment Officer

Past deals in Sub Saharan Africa

Compagnie Africaine de Crédit

Non Equity Assistance in 2022
Compagnie Africaine de Crédit is a pan-African microfinance group focusing on income-generating loans and guarantees to unbanked MSMEs.

KCB Group

Non Equity Assistance in 2022
Kenya Commercial Bank Limited is registered as a non-operating holding company which started operations as a licensed banking institution.

Poa Internet

Grant in 2022
Poa Internet Ltd. is a telecommunications company founded in 2015 and based in Nairobi, Kenya. It specializes in providing low-cost internet services to individuals and small businesses in low-income neighborhoods, particularly in Kibera and Kwangware. The company aims to make internet access affordable and reliable, offering prices that are 40% lower than traditional network operators. Poa delivers its services through a comprehensive Wi-Fi network that ensures connectivity throughout entire neighborhoods, allowing users to access the internet on any Wi-Fi-enabled device. Additionally, Poa stands out from competitors by providing transparent pricing, non-time-limited data bundles, and free online content and tools, including job boards and marketplaces.

Electrical Controls & Switchgear

Non Equity Assistance in 2022
Electrical Controls & Switchgear is a manufacturer and supplier of electrical switchgear, transformers, and panels.

Fidelity Bank Ghana

Non Equity Assistance in 2022
Fidelity Bank Limited provides banking products and services. The company offers current and savings accounts.

AgroServ Industry

Non Equity Assistance in 2022
Agroserv Industrie SA is a specialized agro-processing company based in Ouagadougou, Burkina Faso, focused on the production of corn flour and related products. Established in 2008, the company processes 100 tonnes of maize daily, producing a variety of items including corn flour, corn grits, cornmeal, and corn bran. These products are packaged in various sizes, including 5, 15, 20, and 25 kg bags, catering to both human consumption and animal nutrition. Agroserv's offerings include fortified semolina for consumers and corn bran used in livestock and poultry feed, which contributes to unique flavors in the final products. The company aims to meet the demands of the maize sector within Burkina Faso.

Cofina Mali

Debt Financing in 2021
Cofina Mali is a microfinance group that focuses on supporting the growth of informal micro-enterprises in the region. As part of the broader Groupe COFINA, which was established in 2013, it operates in six French-speaking African countries, including Mali. The institution is dedicated to mesofinance and aims to enhance financial inclusion while promoting the formalization of the African business market. By investing in the dynamic private sector, Cofina Mali plays a crucial role in providing financial services that cater to the needs of small businesses, thereby contributing to the economic development of the area.

EFC Uganda

Venture Round in 2021
Entrepreneurs Financial Centre (EFC) Uganda is a microfinance institution established in June 2012, focusing on providing specialized loans to support the growth of local wealth. The organization offers microloans at competitive interest rates to micro and small-size entrepreneurs (MSEs), facilitating increased economic activity. In addition to loans, EFC Uganda provides various savings account options, including regular, premium, and term deposit accounts, enabling clients to create value and enhance their financial stability. Through its services, EFC Uganda aims to empower entrepreneurs and contribute to the overall economic development of the region.

XpressGas

Debt Financing in 2021
Distributor of liquid petroleum gas intended to provide environment-friendly LPG to households and commercial entities across Ghana. The company's gas is distributed to Ghanaian households, institutions, and commercial sectors with a vision of bridging the gap between home and business and providing ready access to clean gas, enabling people and businesses to get a suitable alternative to the wood fuel that they use.

AviNiger

Debt Financing in 2020
AviNiger is a greenfield poultry project with a focus on producing eggs.

FINCA Malawi

Debt Financing in 2019
FINCA Malawi is a licensed deposit-taking financial institution offering individual loans, savings, and insurance products designed for the local market.

Access Bank

Post in 2019
Access Bank provides banking products and services to individual and business customers in Ghana. It offers standard savings and current, access advantage, solo, and premier accounts. The company also provides online banking services that include ATM, online access, and point-of-sale terminal services; and bills payment and Western Union money transfer services.

Acep Burkina

Debt Financing in 2016
ACEP Burkina is a MFI specialized in the financing of micro companies and very small enterprises existing in towns and close suburbs. Granted credits are mainly used to finance required working capital and investments. I&P and ACEP International which are old partners have decided to partner in 2008 to try to start a microfinance institution like ACEP in the country. In spite of a preexisting important mutual fund present in town zone, small entrepreneurs remain hardly linked to microfinance. Besides, it does not exist for the moment in Burkina Faso, a microfinance institution specialized in individual credit with an effective and appropriate technique of credit risk analysis towards very small companies. Financings trough subventions have been secured from the French Agency of Development then an agreement has been obtained from the ministry of finances in June 2012. The microfinance institution has started its activities in October 2012.

Alios Finance Group

Debt Financing in 2015
Alios Finance Group is a prominent financial services provider based in South Africa, specializing in personal and investment financing solutions. The company offers a range of services, including leasing, investment credit, long-term rental, consumer credit, personal loans, hire purchase, and equipment credit. Operating in nine Sub-Saharan countries—Burkina Faso, Cameroon, Ivory Coast, Gabon, Kenya, Mali, Senegal, Tanzania, and Zambia—Alios Finance Group also has a presence in North Africa through its main shareholder, Tunisie Leasing Group. The firm focuses on delivering specialized financial solutions tailored to the needs of professionals and individuals across the African continent.

Indorama Fertilizers

Debt Financing in 2013
Indorama Fertilizers operates a world-class, 1.4 million metric tonnes per annum urea manufacturing facility based in Port Harcourt, Nigeria. The plant has been developed to global environmental, social and construction standards. It plays a key role in supporting the agricultural sector in Nigeria by providing a reliable supply of fertilizers for local farmers, thereby enabling import substitution and supporting the diversification needs of the Nigerian economy. Indorama Fertilizers is also advantageously located to serve neighboring West African countries and key Western hemisphere markets, including North America, South America and Europe

Azito Energie

Debt Financing in 2012
Azito Energie S.A., founded in 1997 and based in Abidjan, Ivory Coast, specializes in the development, ownership, and operation of a natural gas power plant. This facility utilizes indigenous natural gas resources, contributing to energy independence in Ivory Coast and positioning the country as a significant electricity supplier in West Africa. As of November 2010, Azito Energie operates as a subsidiary of Globeleq Generation Limited, further enhancing its capacity to deliver reliable energy solutions in the region.
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