World Bank Group institution financing the private sector in emerging markets: loans, equity, convertible instruments and advisory services, often alongside other development finance institutions.
Recent public deals: they say better than a thesis what the fund actually signs.
2.4 M$Quasi-equityAgribusinessLead
Activity : Plateforme numérique agricole et financement des intrants
Instrument : Prêt convertible de 2,4 M$ pour financer intrants et services d'agronomie des agriculteurs, complété par 480 000 $ d'assistance technique · Vehicle : Business Investment Financing Track (BIFT) du Private Sector Window du Global Agriculture and Food Security Program (GAFSP)
Complete Farmer operates a digital platform connecting farmers with buyers, financial institutions, input suppliers and agricultural service providers. It also develops agronomy services and input-financing solutions.
Why they invested
- Expand access to finance for smallholder farmers.
- Finance agricultural inputs and agronomy services needed for farm production.
- Strengthen Complete Farmer's systems and capacity to expand farmer financing.
- Scale the platform's support with an objective of reaching 240,000 farmers by 2030.
Source : ifc.org
Absa Bank Ghana
September 2026 · GhanaDebt50 M$GuaranteeFinancial servicesLead
Activity : Banque commerciale et financement de la chaîne du cacao
Instrument : unfunded risk participation facility of up to $50 million · Vehicle : Private Sector Window of the Global Agriculture and Food Security Program (GAFSP)
Absa Bank Ghana provides retail, business, corporate and investment banking services in Ghana. The transaction supports financing for Licensed Buying Companies purchasing cocoa from farmers.
Why they invested
- Supporting cocoa value-chain financing
- Maintaining market access for more than 139,000 smallholder farmers
- Financing traceable cocoa purchases
- Promoting more sustainable farming practices
Source : ifc.org
GrowthUndisclosed amountSenior debtHealthcareCo-Invest
Activity : Centres de diagnostic, oncologie et cardiologie spécialisée
Instrument : financement en naira à long terme d'environ ₦14,2 milliards, soit $24,5 millions pour IFC · Vehicle : IDA Private Sector Window Local Currency Facility
MedServe is the healthcare subsidiary of the Nigeria Sovereign Investment Authority. It is developing a nationwide network of diagnostic, radiotherapy and interventional cardiology centres.
Why they invested
- Expansion of diagnostic and cancer-treatment infrastructure
- Reducing foreign-exchange risk through local-currency financing
- Deployment of advanced medical technologies
- Expanding access to specialized care for lower-income populations
Co-investors Nigeria Sovereign Investment Authority
Source : ifc.org
Groupe EDK
December 2025 · SenegalGrowthUndisclosed amountSenior debtRetail & distributionLead
Activity : Grande distribution alimentaire moderne
Instrument : Financement pouvant atteindre 25 M EUR · Vehicle : IDA Private Sector Window Local Currency Facility and Blended Finance Facility
Groupe EDK is a Senegalese conglomerate active in modern grocery retail. The financing supports renovation of Low Price stores and the opening of new outlets outside Dakar.
Why they invested
- Expansion of modern grocery retail into secondary cities
- Improving access to quality food products
- Job creation
- Strengthening local supply chains
Source : ifc.org
Orange Mali SA
November 2025 · MaliGrowthUndisclosed amountSenior debtInfrastructureLead
Activity : Télécommunications et infrastructures numériques
Instrument : Prêt social de 80 M EUR, dont 50 M EUR équivalent en francs CFA
Orange Mali operates mobile and digital telecommunications services in Mali. The financing supports new 4G towers and expansion of the fiber network.
Why they invested
- Expansion of broadband coverage
- Deployment of 300 new 4G towers
- Expansion of fiber networks to households and small businesses
- Reducing digital exclusion in rural areas
Co-investors Banque Ouest-Africaine de Développement (BOAD)
Source : ifc.org
GrowthUndisclosed amountEquityServicesCo-Invest
Activity : Plateforme numérique de services de production audiovisuelle
Filmmakers Mart operates an integrated digital production-services platform covering location scouting, logistics, catering and permits. It uses AI-powered tools and automated workflows.
Why they invested
- Reducing fragmentation in production services
- Using AI-powered tools and automated workflows
- Expanding into additional African markets
- Supporting Africa's creative economy
Co-investors Sony Innovation Fund Africa
Source : ifc.org
Growth5 M$Senior debtEnergyCo-Invest
Activity : Mini-réseaux solaires hybrides
Instrument : investment of $5 million under the DARES Platform · Vehicle : Distributed Access through Renewable Energy Scale-up (DARES) Platform
Husk Nigeria develops solar hybrid mini-grids for underserved rural communities. The financing supports deployment across Northern Nigeria.
Why they invested
- Expanding access to reliable electricity
- Deploying renewable solutions in underserved areas
- Financing rural energy infrastructure
- Catalyzing private-sector solutions through DARES
Co-investors Gouvernement du Canada
Source : ifc.org
Balwin Properties
April 2025 · Afrique du SudGrowthUndisclosed amountSenior debtInfrastructureLead
Activity : Promotion immobilière et logement abordable
Instrument : Prêt en monnaie locale de 1 Md ZAR
Balwin Properties is a South African property developer. The financing supports construction of 16,468 homes in the Mooikloof City development east of Pretoria.
Why they invested
- Increasing affordable housing supply
- Construction of more than 16,000 homes
- Urban development near Johannesburg and Pretoria
- High environmental standards and energy efficiency
Source : ifc.org
Lagos Free Zone Company
January 2025 · NigeriaGrowth50 M$EquityInfrastructureLead
Activity : Zone économique spéciale, infrastructures industrielles et logistiques
Instrument : equity investment of up to $50 million
Lagos Free Zone develops an 860-hectare private special economic zone integrated with Lekki Deep Sea Port. Financing supports land development, industrial facilities and logistics infrastructure.
Why they invested
- Development of industrial and logistics infrastructure
- Attracting local and international businesses
- Integration into global value chains
- Supporting Nigeria's economic diversification
Source : ifc.org
Equator Africa Fund I
October 2024 · Kenya5 M$Fund of fundsLead
Fund-of-funds commitment: subscription in Equator Africa Fund I
Activity : Fonds d'investissement
Instrument : Souscription de 5 M$ · Vehicle : Equator Africa Fund I
Equator Africa Fund I invests in early-stage technology companies in sub-Saharan Africa developing climate solutions, including in energy, agriculture and mobility.
Why they invested
- Funding early-stage technology companies
- Supporting an equitable climate transition in sub-Saharan Africa
- Backing solutions in energy, agriculture and mobility
- Reducing emissions and resource use
Source : ifc.org
4DX Ventures Fund III
March 2024 · Nigeria10.5 M$Fund of fundsLead
Fund-of-funds commitment: subscription in 4DX Ventures Fund III
Activity : Fonds d'investissement
Instrument : Souscription de 10.5 M$ · Vehicle : 4DX Ventures Fund III
4DX Ventures Fund III invests in early-stage African technology companies, including fintech, e-commerce, edtech, climate tech and health tech.
Why they invested
- Funding early-stage African technology startups
- Exposure to fintech, e-commerce and education
- Supporting climate and health technologies
- Developing African venture-capital ecosystems
Source : ifc.org
P1 Ventures
March 2024 · Senegal5 M$Fund of fundsLead
Fund-of-funds commitment: subscription in P1 Ventures
Activity : Fonds d'investissement
Instrument : Souscription de 5 M$ · Vehicle : P1 Ventures
P1 Ventures is a pan-African venture capital fund targeting pre-seed and seed investments in fintech, healthcare, e-commerce marketplaces and software.
Why they invested
- Supporting early-stage African technology entrepreneurs
- Targeting underserved venture-capital markets
- Fintech, healthcare, e-commerce and software
- Focus on Francophone Africa and low-income countries
Source : ifc.org
Africa Infrastructure Investment Fund 4 Partnership
January 2024 · Afrique du Sud30 M$Fund of fundsLead
Fund-of-funds commitment: subscription in AIIM (African Infrastructure Investment Managers)
Activity : Fonds d'investissement
Instrument : Souscription de 30 M$ · Vehicle : Africa Infrastructure Investment Fund 4 Partnership (AIIF4)
AIIF4 is an infrastructure fund managed by Africa Infrastructure Investment Managers. It targets data centers, fiber networks, telecom towers, renewable energy, mobility and logistics infrastructure across Africa.
Why they invested
- Developing essential infrastructure across Africa
- Financing telecommunications and connectivity
- Developing renewable-energy platforms
- Investing in mobility and logistics
Source : ifc.org
Netis
November 2023GrowthUndisclosed amountEquityInfrastructureCo-Invest
Co-investor alongside Amethis
Activity : Infrastructures télécoms et solutions énergétiques
Instrument : Prise de participation majoritaire
Netis provides telecom site maintenance, fiber-optic deployment and power-supply solutions across more than 15 countries in Sub-Saharan Africa.
Why they invested
- Capture the fast-growing African telecom installation and maintenance market
- Accelerate digital inclusion across Africa
- Support Netis' expansion into new countries
- Support the development of telecom and energy infrastructure
Co-investors AfricInvest, Proparco
Source : amethis.com
Growth25 M$EquityInfrastructureCo-Invest
Co-investor alongside Convergence Partners
Activity : Réseaux de fibre optique et infrastructures broadband en accès ouvert
Instrument : New equity investment; first tranche of a broader US$65 million investment programme · Vehicle : Convergence Partners Digital Infrastructure Fund
Pan-African open-access broadband infrastructure operator developing metropolitan and long-distance fibre networks across sub-Saharan Africa.
Why they invested
- Funding fibre network expansion.
- Developing open-access digital infrastructure in Africa.
- Improving internet penetration and affordability in sub-Saharan Africa.
Advisers
- FTI Capital Advisors DIFC Limited — conseil financier, company side
Co-investors IDA Private Sector Window Blended Finance Facility
Source : convergencepartners.com
CRDB Bank Plc
October 2023 · TanzanieGrowth68.3 M$Senior debtFinancial servicesLead
Activity : Banque commerciale et financement climatique
Instrument : IFC subscribed to 29.3 percent of the bond, equivalent to $20 million; total issuance $68.3 million · Vehicle : IDA Private Sector Window Local Currency Facility
CRDB Bank is a Tanzanian commercial bank. Its first green bond finances climate-smart agriculture, water, forestry, renewable-energy and green-building projects.
Why they invested
- Financing climate-friendly projects
- Supporting climate-smart agriculture
- Financing renewable energy and green buildings
- Developing Tanzania's local green-bond market
Source : ifc.org
ANKA
September 2023 · Côte d'IvoireGrowth3.4 M$EquityE-commerceLead
Activity : Plateforme e-commerce pour créateurs et commerçants africains
Instrument : equity investment of $3.4 million
ANKA operates an online platform enabling African creators and merchants to sell products and manage payments and shipping. The platform particularly serves artisans and women-led businesses.
Why they invested
- Expansion of African online retail
- Access to new markets for artisans
- Supporting women-led small businesses
- Developing sales, payment and shipping services
Source : ifc.org
Joliba Fund I
September 2023 · Côte d'IvoireUndisclosed amountFund of fundsLead
Fund-of-funds commitment: subscription in Joliba Capital
Activity : Fonds d'investissement
Instrument : Souscription pouvant atteindre 15 M EUR (7,5 M EUR du programme SME Ventures, 7,5 M EUR du guichet IDA) · Vehicle : Joliba Fund I
Joliba Fund I is a private equity fund targeting SMEs in Francophone West and Central Africa. It invests in consumer goods and services, financial services, transport and logistics, agribusiness, business services, healthcare and education.
Why they invested
- Financing SMEs in Francophone West and Central Africa
- Targeting markets underserved by private equity
- Supporting consumer, financial, logistics, agribusiness and healthcare sectors
- Significant focus on IDA-eligible countries
Co-investors FMO, LBO France, Proparco
Source : ifc.org
Sunda Group
September 2023 · GhanaGrowth107 M$Senior debtManufacturingLead
Activity : Fabrication de produits d'entretien et de soins personnels
Instrument : loan of $107 million
Sunda Group is an Africa-based manufacturing group producing home-care and personal-care products. The financing supports expansion in Ghana, Côte d'Ivoire, Guinea, Kenya and Nigeria.
Why they invested
- Developing African manufacturing capacity
- Local production of home-care and personal-care products
- Expanding manufacturing capacity in Ghana
- Creating direct and indirect jobs
Source : ifc.org
Metier Capital Growth Fund III
July 2023 · Afrique du Sud25 M$Fund of fundsLead
Fund-of-funds commitment: subscription in Metier Capital Growth Fund III
Activity : Fonds d'investissement
Instrument : Souscription de 25 M$, plus une enveloppe de co-investissement de 15 M$ · Vehicle : Metier Capital Growth Fund III
Metier Capital Growth Fund III invests in mid-market companies in Southern and East Africa, including telecommunications, FMCG, healthcare, non-bank financial services, manufacturing, infrastructure and energy.
Why they invested
- Growth capital for mid-market companies
- Focus on Southern and East Africa
- Sector diversification across telecoms, healthcare, manufacturing, energy and infrastructure
- Ability for IFC to co-invest alongside the fund
Source : ifc.org
Amethis Fund III
July 2023 · KenyaUndisclosed amountFund of fundsLead
Fund-of-funds commitment: subscription in Amethis
Activity : Fonds d'investissement
Instrument : Souscription de 40 M EUR, plus une enveloppe de co-investissement pouvant atteindre 30 M EUR · Vehicle : Amethis Fund III
Amethis Fund III provides growth capital to African mid-sized companies in healthcare, FMCG, infrastructure and energy, non-bank financial services and manufacturing.
Why they invested
- Growth capital for African mid-sized companies
- Exposure to healthcare, consumer goods, infrastructure and energy
- Supporting non-bank financial services and manufacturing
- Targeting at least 25% of financing to women-owned or women-led businesses
Source : ifc.org
BUA Cement Plc
June 2023 · NigeriaGrowth500 M$Senior debtManufacturingCo-Invest
Activity : Production de ciment
Instrument : financing package of $500 million comprising $160.5 million IFC own-account loan, $94.5 million MCPP loan and $245 million parallel loans · Vehicle : Managed Co-Lending Portfolio Program (MCPP)
BUA Cement is a Nigerian cement producer. The financing supports two new energy-efficient production lines in Sokoto State in Northern Nigeria.
Why they invested
- Expanding cement production capacity
- Supporting industrialization in Northern Nigeria
- Improving energy efficiency
- Creating direct and indirect jobs
Co-investors Africa Finance Corporation, Banque africaine de développement, DEG
Source : ifc.org
Africa Conservation and Communities Tourism Fund
May 2023 · Afrique du Sud13 M$Fund of fundsLead
Fund-of-funds commitment: subscription in Africa Conservation and Communities Tourism Fund
Activity : Fonds d'investissement
Instrument : Véhicule de dette structurée · Vehicle : Africa Conservation and Communities Tourism Fund
The ACCT Fund is a structured debt vehicle financing ecotourism operators around conservation areas in Eastern and Southern Africa. It targets safari camps, hotels and lodges.
Why they invested
- Supporting post-pandemic recovery of ecotourism
- Financing tourism operators around conservation areas
- Refinancing, refurbishing and expanding assets
- Generating conservation and community-development impact
Source : ifc.org
Avenue Group Limited
April 2023 · KenyaGrowth12.7 M$Senior debtHealthcareLead
Activity : Hôpitaux, cliniques et soins de santé privés
Instrument : loan of $12.7 million
Avenue Group is a private healthcare provider in Kenya. The financing supports construction and upgrading of hospitals and clinics and expansion of healthcare services.
Why they invested
- Expanding access to primary care
- Strengthening secondary and tertiary care
- Developing new healthcare facilities
- Increasing patient reach across Kenya
Source : ifc.org
Bank of Africa Group
April 2023 · Côte d'IvoireDebt77 M$GuaranteeFinancial servicesLead
Activity : Banque et financement des PME
Instrument : risk-sharing facility of $77 million guaranteeing 50 percent of an aggregate loan portfolio of up to $154 million
Bank of Africa Group is a regional banking group operating across several sub-Saharan African countries. The risk-sharing facility supports SME lending, including in agriculture, trade, energy and construction.
Why they invested
- Increasing SME financing
- Supporting women-owned businesses
- Financing agriculture, trade, energy and construction
- Expanding credit in fragile and Sahelian markets
Source : ifc.org
Uhuru Growth Fund I
August 2022 · Nigeria10 M$Fund of fundsLead
Fund-of-funds commitment: subscription in Uhuru Investment Partners
Activity : Fonds d'investissement
Instrument : Souscription pouvant atteindre 10 M$ sur fonds propres d'IFC, plus 10 M$ du guichet IDA · Vehicle : Uhuru Growth Fund I
Uhuru Growth Fund I provides growth capital to SMEs in West Africa, particularly in consumer and financial services. The fund targets Nigeria, Ghana, Côte d'Ivoire, Senegal, Mali and Burkina Faso.
Why they invested
- Growth capital for West African SMEs
- Focus on consumer and financial services
- Focus on low-income countries
- Target of at least 25% women-owned or women-led companies
Source : ifc.org
Wave Mobile Money
July 2022 · SenegalGrowthUndisclosed amountSenior debtFintechCo-Invest
Activity : Services de mobile money et paiements numériques
Instrument : Financement de 90 M EUR, dont 25 M EUR pour compte propre d'IFC
Wave operates mobile-money services in Senegal and Côte d'Ivoire. The financing supports operational expansion, broader product offerings and customer growth.
Why they invested
- Expanding digital financial services
- Reducing the cost of mobile-money services
- Deepening the product offering
- Expanding the customer base in Senegal and Côte d'Ivoire
Co-investors BlueOrchard, Finnfund, Lendable, Norfund, responsAbility, Symbiotics
Source : ifc.org
AXIAN Telecom
February 2022 · TanzanieGrowth420 M$Senior debtInfrastructureLead
Activity : Télécommunications et infrastructures numériques
Instrument : anchor subscription of $50 million representing 12 percent of a $420 million bond issuance
AXIAN Telecom operates telecommunications networks and services across Africa. The bond investment supports digital infrastructure expansion primarily in Tanzania and Togo.
Why they invested
- Expansion of digital infrastructure
- Refinancing existing debt
- Improving access to affordable mobile connectivity
- Supporting Africa's digital economy
Source : ifc.org
Savannah Fund II
March 2021 · Kenya3 M$Fund of fundsLead
Fund-of-funds commitment: subscription in Savannah Fund II
Activity : Fonds d'investissement
Instrument : IFC mène le premier closing avec 3 M$ dans une levée de 25 M$ · Vehicle : Savannah Fund II
Savannah Fund II is a seed fund investing in African startups, including fintech, education, logistics, e-commerce, healthcare and agritech.
Why they invested
- Early-stage financing for African startups
- Supporting women entrepreneurs
- Targeting high-growth sectors
- Exposure to fintech, education, logistics, e-commerce, healthcare and agritech
Co-investors Women's Entrepreneurs Finance Initiative (We-Fi)
Source : ifc.org
GrowthUndisclosed amountEquityEnergyCo-Invest
Co-investor alongside Africa50
Activity : Production hydroélectrique
Instrument : 15% equity stake
NHPC develops and operates the 420 MW Nachtigal hydropower plant and its associated transmission line.
Why they invested
- Increase reliability of Cameroon’s power sector
- Expand access to electricity
- Mobilize private financing for strategic energy infrastructure
Co-investors EDF, République du Cameroun, STOA
Source : africa50.com
Kobo360
December 2018 · NigeriaSeed6 M$EquityLogisticsCo-Invest
Co-investor alongside TLcom Capital
Activity : Plateforme de logistique et transport de marchandises
Vehicle : TIDE Africa Fund I
Kobo360 connected shippers and truckers via a digital logistics platform in Nigeria, Kenya, Ghana and Côte d'Ivoire; the company has since faced severe financial difficulties.
Why they invested
- Digitization of pan-African road logistics
- Network effects between shippers and truckers
Source : kobo360.medium.com
Twiga Foods
November 2018 · KenyaSeries B10 M$EquityAgribusinessCo-Invest
Co-investor alongside TLcom Capital
Activity : Plateforme B2B d'approvisionnement alimentaire
Vehicle : TIDE Africa Fund I
Twiga Foods connects farmers and retailers through a tech-enabled food distribution platform in Kenya.
Why they invested
- Digitization of Kenya's informal food supply chain
- Strong network effects between farmers and retailers
Co-investors Global Agriculture and Food Security Program (GAFSP)
Source : techweez.com
Growth100 M$EquityInfrastructureCo-Invest
Co-investor alongside Convergence Partners
Activity : Réseaux de fibre optique et infrastructures broadband
Instrument : Investment of up to $100 million · Vehicle : Convergence Partners Communications Infrastructure Fund
Open-access broadband infrastructure operator with fibre networks in Ghana, Uganda and other sub-Saharan African markets.
Why they invested
- Deployment of metropolitan fibre networks.
- Accelerating access to affordable broadband connectivity.
- Developing the sub-Saharan digital economy.
Co-investors Google, Mitsui & Co., Ltd.
Source : convergencepartners.com
Undisclosed amountFund of fundsCo-Invest
Fund-of-funds commitment: subscription in Partech Africa
Co-investor alongside Bpifrance (Fonds Averroès / Afrique)
Activity : Fonds d'investissement
Instrument : Souscription au fonds Partech Africa lors de son lancement (IFC en chef de file des institutions) · Vehicle : Averroès Finance III
Partech Africa is a venture capital fund dedicated to African technology companies with pan-African ambitions.
Why they invested
- Support for technology startups in sub-Saharan Africa
- Exposure to African digital champions
- Development of Africa's venture capital ecosystem
Co-investors Banque européenne d'investissement
Source : partechpartners.com
IFC (International Finance Corporation) invests tickets ranging from 2.4 M$ to 420 M$, in the following areas: West Africa, East Africa, Central Africa, and Southern Africa. Check in 30 seconds whether your company fits these criteria.
