MLR Forestal de Nicaragua S.A. - EUR 9 mln mezzanine
MLR is an agroforestry company in Nicaragua, producing both teak and cacao. It is the second largest teak owner in Nicaragua and its teak has been FSC certified since 2013. All the cocoa grown by MLR is UTZ certified. Forestry is the key driver of CO2 sequestration. MLR will acquire degraded land and convert it into more productive, sustainable agroforestry land. The mezzanine facility allows MLR to optimize its current plantations, expand the cocoa area and to invest in the associate processing facilities.
Sahyadri Farmers Producer Company Limited - EUR 10 mln debt
Sahyadri is a 100% farmer owned Farmer Producer Organisation in India. The Company’s primary objective is to provide the best of infrastructure and adequate production and processing facilities to farmers to integrate them in the value chain. The loan will be used to finance the construction of collection and distribution centres (last mile processing and packaging), rollout of neighbourhood retail stores, investment in cold chain (refrigerated trucks and cold storage) and the expansion of the processing operations.
Yoma Strategic Holdings Ltd - EUR 4.2 mln debt
The 2018 loan to Yoma was used to expand the company's tractor business. This year, Building Prospects provided a follow-on loan to Yoma to build up and expand Yoma’s food storage, supply and logistics business via its joint venture KOSPA. KOSPA offers third party logistics services through inventory management and transportation principally to customers who are in the hotel, restaurant, catering, agricultural and fast-moving consumer good sectors. KOSPA owns and operates a warehouse facility and a fleet of ca.80 trucks serving a range of customers.
Ivory Cocoa Products Societe Anonyme - EUR 12 mln debt
ICP was founded in 2012 and has since grown into one of the larger cocoa processors in the country. This transaction will allow ICP to (i) expand its production capacity and add more value locally by acquiring conching equipment (used to produce industrial chocolate) and (ii) have its permanent bean stock financed by a matching permanent working capital facility, while at the same time improving the company’s balance sheet structure and weak current ratio.
Yalelo Limited - EUR 7.1 mln debt
Yalelo (which means fish of today) was founded in 2011 and quickly developed into SSAs largest fully integrated tilapia farm on Lake Kariba in Zambia. Product is sold (mainly) fresh to Zambia’s large and fastgrowing consumer market for protein. The transaction will stimulate local employment, generate additional tax income and further develop and professionalize the local aquaculture industry. This will improve access to affordable proteins for the local population.
Africa Improved Foods Rwanda Limited - EUR 1.2 mln equity top-up
Africa Improved Foods (AIF) has been established in 2015 with DSM, IFC, CDC, and FMO as shareholders, for the construction of a 45,000 MT production factory of fortified foods. AIF has an additional funding need of USD 4.7m in order to continue operations in Rwanda in 2019, requested to be covered by the pro-rata equity increase by the shareholders.
Lumos Cote D'Ivoire S.A. EUR 7.5 mln debt
Lumos began its operations in Nigeria in 2014 and commenced commercial sales in Q4 2015. The company provides solar home systems (SHS) to homes and businesses in emerging markets. Lumos is partnering with mobile network operators to facilitate the payments. The off-grid space is an increasingly relevant energy segment that addresses the lack of energy access in rural Africa with a green solution.
Greenlight Planet Incorporated - EUR 4.9 mln debt
Greenlight Planet is a diversified off-grid solar company, with a presence along the full value chain. It designs and assembles the product and also executes sales & distribution, financing and after sales service. The primary purpose of the transaction is to finance working capital for the expansion and growth of GLP’s receivables portfolio in Africa.
Energy Entrepreneurs Growth Fund - EUR 6.8 mln equity fund
Energy Entrepreneurs Growth Fund (EEGF) is a new investment vehicle providing equity, mezzanine and debt financing to high impact energy enterprises that are primarily active in off grid and/or decentralized energy solutions. The EEGF is a unique concept co-created by Shell Foundation and FMO, which leverages on FMO’s and SF’s strategic partnership and builds upon both institutions’ extensive experience and expertise in financing energy projects in developing countries.
responsAbility Access to Clean Power Fund S.A. - EUR 7.0 mln debt fund
This investment involves an open-ended off-grid debt fund to be managed by responsAbility Investments A.G. The final beneficiaries of the ACPF will be households with limited, unreliable or no access to affordable clean energy, as well as SMEs with unreliable access to affordable energy. The broadening of the investment scope will allow the fund to finance residential off-grid power solutions from a strong portfolio base and to become active in the smaller sized commercial and industrial power market.
Djibouti Wind LP - EUR 11.6 mln equity
This investment is for the construction and operation of a 60MW wind energy project and associated grid facilities (5km overhead line and substation) in the Ghoubet area, near Lake Assal, Djibouti. The existing investment has a true impact character: it successfully developed the first renewable IPP in an LDC country, almost 100% replacing heavy polluting HFO generated electricity
Madagascar Hydro Holdco Limited - EUR 9.8 mln equity
The transaction encompasses a co-investment with Africa Renewable Energy Fund for a joint equity stake in a platform of run-of-river hydro’s in Madagascar. It is a green transaction that will replace diesel and HFO in Madagascar (a Least Developed Country) with clean run-of-river hydropower.
Cathay Africinvest Innovation Fund LLC - EUR 4.4 mln equity
Cathay AfricInvest Innovation Fund (CAIF) is a VC fund with a focus on innovative and scalable post-revenue ventures in Africa. CAIF is targeting investments across multiple sectors (FinTech, Edutech, HealthTech, Energy, Logistics/e-commerce, AgTech, Software), focusing on innovative ventures across the four main impact generating themes: 1) Universal Access Providers – increasing access to products, services or solutions with improved access; 2) Value Chain Builders – connecting and facilitating the flow of information, services and products through the value chain; 3) African Optimizers –improving efficiency, productivity and reduce cost and consumption of scarce Africa resources; and 4) Glocal Disruptors – innovative solutions with global relevance by leveraging local talents and resources.
FMO-Novastar Co-investment Facility - EUR 2.2 mln equity top-up
In May 2017 FMO and Novastar established the FMO-Novastar Co-Investment Facility designed to enable FMO to co-invest alongside Novastar Ventures East Africa Fund. Within two years the Co-Investment Facility has been mostly drawn down and invested in 7 companies. Novastar has invited FMO to co-invest in the upcoming financing rounds of Komaza (forestry) and SolarNow (solar energy).
Omnivore Partners India Fund 2 - EUR 6.2 mln equity
Omnivore Partners India Fund 2 invests in Indian early stage companies focusing on agricultural and food technologies. The investment team looks for businesses that have innovative technologies or business models, and where the Fund's investment capital, network and expertise can be applied to scale the business. The fund has a unique market position by being a sole investor (i) making investments in early stage / early growth companies and (ii) focusing on agribusiness companies where technologies make a difference.