Conceived by KfW, the ALCB Fund promotes primary corporate bond issuances in local currency by working with African issuers, investors and intermediaries to bring new deals to market.
‍
The Fund does so by acting as an anchor investor and through technical assistance; investing in transactions where the ultimate beneficiaries are low income households and MSMEs.

Sectors of interest include: financial inclusion, infrastructure, agriculture, housing, education, healthcare and renewable energy.

Our Approach



Identifying institutions with the capacity to issue local currency bonds in sectors of developmental interest



Promoting the advantages of local currency issuances to stakeholders, including investors, regulators and issuers



Providing technical assistance to support transaction costs and encourage capital market development



Acting as an anchor investor for bond issuances to crowd-in local investment to sectors of developmental interest



Undertaking rigorous due diligence and generally introducing improved credit standards to the market



Ensuring harmonisation of standards and appropriate legal documentation such that the bond can be marketed broadly



Supporting transparency through listed bonds, where possible, as well as other means of public disclosure

2021 Impact Indicators



$209 million

Investment amount to date



$1,840 million

Private sector co-investment mobilised



10.1 x

Present co-investment multiplier



66

Investments to date



19

Countries with investments



43%

Proportion of female borowers



36%

Proportion of rural borrowers



1.50 million

Amount of metric tons of CO2 avoided

Supporting the development of African capital markets

Our Approach















2021 Impact Indicators



$209 million



$1,840 million



10.1 x



66



19



43%



36%



1.50 million

Sponsors

Fund Manager

Investors