Production 2024

Valency International DMCC –$10 million Debt

Valency International Pte Ltd is an integrated supply chain manager, commodity trader & processor with predominant operations in Africa and Asia. Historically a trader of Africa-sourced commodities to Asian markets, the company started to expand its downstream value chain in 2015 with cashew processing in Nigeria (the historical sourcing country of the Group) and now operates 18 subsidiaries across Africa, Asia and Europe.  The financing will support Valency's expansion plan in Nigeria, namely (i) establishing new warehouses, (ii) extending the capacity of the group’s cashew processing factory in Ibafo, (iii) setting up a multi-seed crushing plant, and (iv) setting up a food processing and packaging plant. The project supports economic growth in Nigeria through export diversification, value addition via local processing of raw materials, development of quality employment and indirect engagement with smallholder farmers in the poorest regions of Nigeria.

Miro Forestry Developments Limited – $1.2 million Debt

Miro Forestry Developments Limited is one of the largest forestry companies in West Africa, operating plantations in Ghana and Sierra Leone. Miro specializes in the development and management of high-quality, cost-effective, FSC-certified fast-growing industrial timber species, while also contributing significantly to carbon sequestration efforts. FMO continues to support Miro's impactful work, which drives sustainable socioeconomic development in rural communities across Ghana and Sierra Leone. Risk capital for forestry is also very scarce and FMO is critical to successfully close this shareholder loan round.

Bacao S.A.S. – $10 million Debt

Our customer is Bacao S.A.S., the main Colombian subsidiary of Andean Cacao GmbH whose vision is to catalyse change to the cacao sector by providing a scalable sustainable production model (productive, profitable, eco-friendly, and inclusive) that can satisfy the growing need for regenerative and carbon-neutral cacao.  It will develop 3,720 hectares of cacao using best-in-class agriculture design and practices, of which approximately 1,752 hectares are already planted. The Company is backed by strong complementary shareholders (including a leading chocolate manufacturer) which uniquely positions the company for success through an advantageous long term off-take agreement and the sharing of industry-leading experience, know-how, and innovations in cacao farming, plant science and agronomy. This project aligns with FMO's ambitions to: i) support leading commodity off-takers to further integrate complex value chains like cacao; ii) satisfy the growing need for regenerative and carbon-neutral cacao; iii) support a project intended to demonstrate that cacao can be produced profitably and sustainably, spurring further commercial investment into primary production; and iv) support the wider cacao sector in Colombia by supporting clusters of smallholders with access to market and technical assistance.

Helios CLEAR Fund SCSp – $10 million Equity

The Helios Climate, Energy, Adaptation and Resilience Fund (“CLEAR”, “the Fund”) is a private equity fund being raised by Helios Investment Partners, a leading Pan-African PE firm. CLEAR is a Paris-aligned climate fund dedicated to securing a low-carbon growth trajectory for Africa. The aim is to bring much needed growth capital to companies with meaningful climate mitigation and adaptation impact in Africa. The Fund will focus on growth capital investments in mid-cap businesses with high growth potential in the key themes noted above, alongside reliable and trustworthy partners. CLEAR’s return outcomes extend beyond capital appreciation, including seek to avoid and reduce carbon emissions, enabling sectors and populations to become more resilient and to adapt to climate change, improved ESG standards and performance, aligned to international standards and increased development impact that supports a wider stakeholder community.

York Timbers (Proprietary) Limited – ZAR 87.5 mln Debt

York Timbers Proprietary Limited (hereafter York Timbers) is a subsidiary fully owned by York Timber Holdings Limited, listed on the Johannesburg Stock Exchange. York is the largest solid wood, lumber and plywood producer in South Africa, with operations centered in two main geographic areas namely, the Highveld operations in Jessievale and Escarpment Operations in Sabie. As an integrated forestry company, York Timbers manages approximately 60,000 hectares of FSC-certified high-quality pine plantations and around 30,000 hectares of high conservation area and operates two sawmills and one plywood mill. York has also recently diversified into agriculture and crops (i.e. avocado, macadamia, and soft citrus). York Timbers is an integrated forestry company owning and managing pine plantations and operating efficient wood processing plants. This is a strong fit with FMO’s Forestry Strategy. FMO’s facility will match with the maturity profile of the plantations, which will further support York Timbers to reduce its dependency on third-party wood supply, improving cost competitiveness. FMO's additionality is evident by establishing enduring partnerships with York Timbers for the long term.

Afrigreen Debt Impact Fund SLP - €5 million Equity

Afrigreen will answer to the urgent need to scale up clean energy solutions in Central and West Africa, where there is scarce network capacity to accommodate the needed capacity to fulfill the growing demand for electricity. Debt financing for small to medium scale (decentralized) energy projects in Africa is considered particularly scarce. The Fund intends to have substantial impact by targeting an underserved market and would provide a mix of structured debt solutions targeting different technologies to help support swift deployment of renewable projects.

ALIVE Early Growth Fund II LP – $10 million Equity

ALIVE has a credible PE team with a strong focus on achieving the above impact goals. It is considered balanced, well-connected and well-positioned to contribute to reducing inequalities within Colombia. The Fund focuses on impact-focused companies, which makes impact central from the selection process until after the (responsible) exit. It collects data to confirm ratios for (i) improved quality of life, (ii) gender inclusion, and (iii) low income-groups reached with the ambition of making a positive contribution to the financially more vulnerable population.

Accretive Cleantech Finance Private Limited – INR 450mln Equity Direct

Ecofy’s objective is to finance the green transition by originating loans to ‘green’ sectors including Retail EV’s, rooftop solar and SME loans for improving energy efficiency by increasing the adoption of environmentally friendly products at the retail level. The capital infused by FMO is expected to catalyze the growth of the company, which relates to increasing the number of loans disbursed, product diversification and advancing its presence across India. FMO aims to contribute to decarbonizing energy – which is critical in a country like India with a large growing economy. FMO’s funding (via MASSIF & Building Prospects) is expected to act as a catalyst to attract both commercial & blended finance in the future.

SIMA Commercial & Industrial Solar Green Bond B.V – $ 10 million Mezzanine Loan

FMO will provide funding ('the Fund') to SIMA C&I to be used for debt funding to SME energy services and construction companies in Sub-Saharan Africa’s commercial and Industrial (“C&I”) PV sector. roviding energy access to the C&I sector is a key part in the promotion of sustainable operations through using renewable energy. Debt financing for small to medium scale energy companies and projects in Africa is considered particularly scarce. The Fund intends to have substantial impact by targeting an underserved market and would provide a mix of structured debt solutions to help support swift deployment of renewable projects. FMO’s role as investor in the first closing for the Fund will contribute to catalyzing investors and the Fund reaching its target size and deployment timeline.

Africa Ren Development - €0.5 million Development Contribution

EUR 2m from BP as a Development Contribution to DevCo to finance the development of a pipeline of solar projects in the Francophone region of Africa. Of this EUR2m, EUR [500k] of FMO’s contribution will be used to acquire the rights to Walo and provide the necessary funding to get the project to Financial Close.

Connekt 4 SAS - €0.24 million - Ventures Program 2

Hub2 is a finech company that provides mobile wallet accessibility and payment services in Francophone Africa. Hub2’s solution contributes to the payment landscape in Africa, thereby promoting financial inclusion and stimulating economic growth. Hub2 will be able to benefit from being introduced to FMO’s network of (micro)finance institutions and FinTechs across Africa as well as to potential future investors.

EA Foods Limited - €0.25 million - Ventures Program 2

EA Foods Limited (“East Africa Foods”, "EAF") is a food logistics and distribution company in Tanzania, leveraging technology to optimize the fresh fruit and vegetable supply chain. EAF sources produce from over 8,800 smallholder farmers and supplies primarily to informal retailers, shops, restaurants, and supermarkets in larger cities. The Company is developing an integrated platform that optimizes the supply chain for selected crops that are both high in demand and domestically grown, thus improving quality and reducing food waste. The investment proceeds will support the Company’s growth needs, helping to fund its operations and capital investments in logistics infrastructure and software development.

Tagaddod B.V. - $0.13 million - Ventures Program 2

Tagaddod B.V. is an Egyptian start-up that collects and filters used cooking oil from restaurants, households, and factories through a fully digitized process and supplies it to global sustainable fuel producers. The investment will enable the Company to further expand their digitized sourcing process for Used Cooking Oil and other Waste Oils. Ultimately, this will support reducing and recycling waste products for a more sustainable fuel production, whilst providing additional revenue for restaurants, households and aggregators.

TechCoop Investment & Technology PTE. LTD. - $0.58 million - Ventures Program 2

TechCoop Investment & Technology Pte. Ltd. is a technology-enabled agricultural B2B platform in Vietnam that aims to digitize transactions, bridge the working capital gap, and connect and provide access to the market across the agricultural supply chain. TechCoop provides integrated trade, digital trade credit, and advisory solutions to Vietnam's agricultural small- and medium-sized enterprises (SMEs) and farmer cooperatives across export-driven supply chains. The investment proceeds will be used to support the Company’s growth, helping fund the scaling of its operations and further software and product development for the cross-border digital platform, enabling the successful export of agricultural SMEs and farmer cooperatives.