International Finance Corporation

International Finance Corporation (IFC), established in 1956 and headquartered in Washington, District of Columbia, is the private equity and venture capital arm of The World Bank Group. It focuses on fostering sustainable economic growth in developing countries by financing private sector investments and mobilizing capital in international financial markets. IFC provides a wide range of financial products, including loans, equity, quasi-equity, and advisory services, targeting sectors such as agriculture, forestry, financial services, education, healthcare, infrastructure, manufacturing, retail, tourism, and technology. The organization aims to support businesses and financial institutions in emerging markets to create jobs, improve corporate governance, and enhance environmental performance. IFC typically invests between $1 million and $100 million, often taking minority stakes but preferring majority ownership in its portfolio companies. It does not engage directly in the management of its investments and usually exits through domestic stock markets or other arrangements after several years. By focusing on initiatives that benefit underserved communities, IFC contributes to local economic development and improves the quality of life for people in developing regions.

Wale Ayeni

Acting Global Head, Disruptive Technologies and Venture Capital Investments

Paulo De Bolle

Global Director

Andi Dervishi

Chief Investment Officer and Global Head, Fintech, ePayments and New Finance

Makhtar Diop

Managing Director

Imad N. Fakhoury

IFC Regional Director South Asia

Allen Forlemu

Regional Industry Director

Mary Porter Peschka

Director

Leila Search

Investment Professional

Oumar Seydi

IFC Regional Director, Africa

Past deals in SADC

M-Kopa

Debt Financing in 2023
M-Kopa Kenya Limited is a leading provider of solar home systems, specializing in pay-as-you-go energy services for off-grid customers. Founded in 2011 and based in Nairobi, Kenya, M-Kopa began commercial operations in 2012 and has since expanded its reach to Uganda and Tanzania. The company offers a range of solar products, including systems that provide lighting, phone charging, and solar-powered radios, which are sold through over 1,000 retail agents and shops. M-Kopa utilizes a proprietary technology platform that integrates mobile payments and IoT connectivity, allowing customers without credit histories to access essential products and services. With a dedicated team of over 500 staff, the company is committed to delivering innovative solutions that meet the needs of underserved communities, continually improving its offerings through data-driven insights and customer relationship management.

Westfalia Fruit

Debt Financing in 2023
Westfalia Fruit is a multinational supplier of fresh fruit and related processed​ products to international markets. Part of the Hans Merensky Holdings Group, Westfalia grows, sources and ripens, packs, processes and markets sustainably-grown avocados year round. Its vertically-integrated supply chain enables Westfalia to market quality fruit from across the globe.

WIOCC

Venture Round in 2022
WIOCC specializes in high-capacity connectivity solutions, linking Africa with global financial and commercial centers. Recognized as a key player in the wholesale market, it caters to carriers, mobile operators, and internet service providers by offering customized bandwidth packages tailored to meet diverse customer needs. With a comprehensive range of services, including global connectivity, carrier IP transit, and colocation, WIOCC ensures built-in redundancy in its network, safeguarding traffic and enhancing reliability. Operating across more than 30 African countries, the company positions itself as a pivotal provider of managed connectivity services for cloud operators and content providers, effectively supporting the growing demand for fixed and mobile broadband in Africa's evolving markets.

WIOCC

Debt Financing in 2021
WIOCC specializes in high-capacity connectivity solutions, linking Africa with global financial and commercial centers. Recognized as a key player in the wholesale market, it caters to carriers, mobile operators, and internet service providers by offering customized bandwidth packages tailored to meet diverse customer needs. With a comprehensive range of services, including global connectivity, carrier IP transit, and colocation, WIOCC ensures built-in redundancy in its network, safeguarding traffic and enhancing reliability. Operating across more than 30 African countries, the company positions itself as a pivotal provider of managed connectivity services for cloud operators and content providers, effectively supporting the growing demand for fixed and mobile broadband in Africa's evolving markets.

Absa group (Bank)

Funding Round in 2021
Absa Group Limited is a prominent financial services provider based in Johannesburg, South Africa, offering a diverse range of products and services both locally and internationally. The company specializes in personal and business banking, corporate and investment banking, as well as wealth and investment management. Its offerings include residential property finance, vehicle and asset finance, credit cards, personal loans, and a variety of insurance products. Absa also provides commercial property finance, agricultural loans, and a suite of transactional banking options, including savings and investment services. Additionally, the bank offers investment banking services, private equity, and corporate banking products, along with life insurance and fiduciary services. Absa's commitment to serving individual, enterprise, and commercial customers is evident through its comprehensive financial solutions, which include treasury services and cash management. The company was previously known as Barclays Africa Group Limited before rebranding to Absa Group Limited in May 2018.

Daystar Power

Debt Financing in 2021
Daystar Power specialises in providing solar power and energy efficiency solutions for businesses in the commercial, industrial, and agricultural sectors that result in significant reduction of power costs, diesel consumption and pollution.

Adumo

Venture Round in 2021
Adumo is a privately held independent payment service provider.

Liquid Intelligent Technologies

Debt Financing in 2021
Liquid Telecom is an independent data, voice, and IP provider that commits to build a digital future. Liquid Telecom has built Africa’s largest single fibre network, currently stretching over 18,000km across Uganda, Kenya, Rwanda, Zambia, Zimbabwe, Botswana, DRC, Lesotho and South Africa. The award-winning Pan-African fibre network covers Africa’s fastest growing economies, where no fixed network has existed before.

Zenith Bank

Debt Financing in 2020
Zenith Bank Plc, established in May 1990 and headquartered in Lagos, Nigeria, is a leading commercial bank and the largest in the country by tier-1 capital. It became a public limited company in 2004 and is listed on the Nigerian Stock Exchange. With a shareholder base of approximately one million, Zenith Bank operates over 500 branches across Nigeria. The bank has expanded its presence internationally, with subsidiaries in Ghana, Sierra Leone, and Gambia, as well as a UK subsidiary, Zenith Bank (UK) Limited, which offers various financial services including asset management and trade finance. Zenith Bank also has representative offices in South Africa and China, and it aims to further extend its brand across other African countries and into European and Asian markets.

Lulalend

Series A in 2019
LulaLend is more than a company. It’s a belief in the power of small business, making a difference, building a better solution and striving for excellence. We work hard to empower businesses across South Africa with the funds they need to grow, and we have a great time doing it!

Botswana Building Society

Debt Financing in 2017
BBS is a financial institution whose principal business is residential and commercial property finance. BBS mission is to provide affordable property finance and attractive investment returns through efficient utilization of resources in the spirit of teamwork for the benefit of our stakeholders. Our vision is to be the premier provider of property finance and attractive investment returns in Botswana.

Zoona

Venture Round in 2017
Zoona is a mobile technology company focused on delivering financial services to underserved communities across Africa. It operates an interoperable distribution network that facilitates money transfers, electronic voucher payments, agent payments, savings, credit, and bill payments. By leveraging a network of widespread agents, Zoona aims to provide safe and reliable access to financial services for predominantly unbanked customers, enabling them to participate in the financial system and improve their economic well-being.

Mobisol

Series B in 2016
Mobisol GmbH, founded in 2010 and based in Berlin, Germany, specializes in developing and installing solar home systems to provide electricity to underserved low-income customers in developing nations. The company offers solutions that power LED lights, radios, mobile phones, and various household appliances, while also promoting productive use appliances. Mobisol's innovative approach combines solar energy with an affordable mobile payment plan, making it accessible for those living without electricity. The company emphasizes comprehensive customer service and utilizes remote monitoring technology to ensure reliable performance. With additional offices in Tanzania, Rwanda, and Kenya, Mobisol operates as a subsidiary of ENGIE SA, focusing on delivering clean and affordable energy alternatives to fossil fuels.

Zoona

Series B in 2016
Zoona is a mobile technology company focused on delivering financial services to underserved communities across Africa. It operates an interoperable distribution network that facilitates money transfers, electronic voucher payments, agent payments, savings, credit, and bill payments. By leveraging a network of widespread agents, Zoona aims to provide safe and reliable access to financial services for predominantly unbanked customers, enabling them to participate in the financial system and improve their economic well-being.

ADvTECH

Post in 2016
ADvTECH Limited operates in South Africa, focusing on education, training, and staff placement services. It comprises three main divisions: Schools, Tertiary, and Resourcing. The Schools division delivers pre-primary, primary, and secondary education, while the Tertiary division provides diploma, degree, and postgraduate programs through both face-to-face and distance learning formats. The Resourcing division specializes in staffing solutions, offering permanent, temporary, and contract placements across various sectors, including engineering, finance, and information technology. ADvTECH is headquartered in Sandton and plays a significant role in enhancing human capacity development in the private sector.

Lekela Power

Private Equity Round in 2016
Lekela Power B.V. is a renewable energy generation platform focused on delivering utility-scale wind and solar projects across Africa. Founded in 2015 and headquartered in Amsterdam, the company operates in countries such as Egypt, Ghana, South Africa, and Senegal. Lekela Power develops, constructs, and manages a portfolio of renewable energy projects that supply clean energy to a range of consumers, including government entities, utilities, and large-scale industrial users. By providing secure and reliable renewable energy, Lekela Power aims to support the continent's growth and development while contributing to the transition toward sustainable energy sources. The company operates as a subsidiary of Mainstream Renewable Power Limited.

Tiger Resources

Post in 2015
Tiger Resources Ltd is an Australian-based company focused on the discovery, development and exploration of high-grade copper/cobalt deposits in the world-renowned Katanga Copper Belt in the DRC.

ZOLA Electric

Debt Financing in 2015
Zola Electric provides off-grid solar solutions primarily for African markets, focusing on Tanzania, Rwanda, Ghana, and the Ivory Coast. The company offers solar home kits that can be either leased or purchased, utilizing a pay-as-you-go micro-finance model that accommodates various income levels. By employing advanced solar, battery, and power electronics technology, Zola Electric delivers renewable energy systems tailored to the needs of individual households and businesses in rural communities. Since its inception in 2012, the company has powered over 180,000 homes and businesses. Formerly known as Off-Grid Electric Tanzania Limited, it rebranded to Zola Electric in July 2018 and has established its headquarters in Arusha, Tanzania, with an additional office in San Francisco, California. The company has garnered recognition through various awards and has attracted investment from notable firms, including Tesla and EDF.

Helios Towers Africa

Private Equity Round in 2014
Helios Towers Africa has operations in Ghana, Tanzania, the Democratic Republic of Congo and a sister company in Nigeria. The number of mobile subscribers in Africa has increased from just 16 million people in 2000 to over 500 million today. Based on these growth levels and without an increase in the sharing of telecoms tower facilities, the number of towers in Africa will need to double from the current number of 75,000, a significant environmental impact.
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