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The Banque Ouest Africaine de Développement (West African Development Bank, BOAD), is a regional financial institution with a mandate to promote development in West Africa and foster economic integration within the subregion.
The Banque Ouest Africaine de Développement (West African Development Bank, BOAD), is a regional financial institution with a mandate to promote development in West Africa and foster economic integration within the subregion.
La Société de Logistique et d’Exploitation Agricole (SOLEA) is an agribusiness in Cote d’Ivoire focused on developing and managing cocoa farms. The company manages ca. 2,000 hectares of productive land and aims to be the country’s largest producer of traceable cocoa.
La Société de Logistique et d’Exploitation Agricole (SOLEA) is an agribusiness in Cote d’Ivoire focused on developing and managing cocoa farms. The company manages ca. 2,000 hectares of productive land and aims to be the country’s largest producer of traceable cocoa.
Advans La Fayette Microfinance Bank, is a microfinance institution that operates in Nigeria, as a part of the Advans Group. Advans provides loans and other financial services to low-income MSMEs and SMEs, with limited or no access to banking services.
Advans La Fayette Microfinance Bank, is a microfinance institution that operates in Nigeria, as a part of the Advans Group. Advans provides loans and other financial services to low-income MSMEs and SMEs, with limited or no access to banking services.
Izwe Loans Kenya Limited is a non-bank financial institution offering loan products to formally employed but underbanked individuals. Founded in 2014, the company has served over 28,000 individuals, with an average loan size of ca KES 108,000 (USD 1,000).
✓ This was Izwe Kenya’s first bond issuance and the first time that the institution has accessed debt finance in local currency.
✓ Local investors made-up 81% of the issuance, and 93% of the investment was in 3 year notes.
✓ Izwe Kenya Loans Limited is an integral player in micro-lending with an expanding focus on SME loan products.
Izwe Loans Kenya Limited is a non-bank financial institution offering loan products to formally employed but underbanked individuals. Founded in 2014, the company has served over 28,000 individuals, with an average loan size of ca KES 108,000 (USD 1,000).
Enda Tamweel is the incorporated spin-off of Edna Inter-Arabe, an NGO that first introduced microfinance to Tunisia in 1995. Enda Tamweel operates as a non-deposit taking microfinance institution, providing loans and microinsurance products to micro-entrepreneurs. Since its creation, Enda has supported nearly 900,000 micro-entrepreneurs and disbursed over TND 4.7 billion (USD 1.7 billion).
✓ Enda contributes to the financial empowerment of marginalized populations excluded from the mainstream financial system by promoting entrepreneurship. The company mainly focuses on three types of customers: women, farmers and young entrepreneurs
Enda Tamweel is the incorporated spin-off of Edna Inter-Arabe, an NGO that first introduced microfinance to Tunisia in 1995. Enda Tamweel operates as a non-deposit taking microfinance institution, providing loans and microinsurance products to micro-entrepreneurs. Since its creation, Enda has supported nearly 900,000 micro-entrepreneurs and disbursed over TND 4.7 billion (USD 1.7 billion).
Sonatel is a West African telecommunications company operating in Senegal, Mali, Sierra Leone, Guinea-Conakry and Guinea-Bissau. The group’s main subsidiaries are marketed under the brand Orange and offer a diverse ranged of mobile and fixed-line communication solutions. Sonatel’s product offerings cater to a broad range of clients across the income spectrum; providing critical infrastructure to facilitate business activities and ensure connectivity.
✓ Innovative transaction for local market (largest corporate bond in WAEMU region)
Sonatel is a West African telecommunications company operating in Senegal, Mali, Sierra Leone, Guinea-Conakry and Guinea-Bissau. The group’s main subsidiaries are marketed under the brand Orange and offer a diverse ranged of mobile and fixed-line communication solutions. Sonatel’s product offerings cater to a broad range of clients across the income spectrum; providing critical infrastructure to facilitate business activities and ensure connectivity.
TUHF is a development finance company that provides financing to entrepreneurs, landlords, and social organisations for the purchase, construction, conversion and improvement of properties in inner cities. Since commencing operations in 1993, TUHF has disbursed over ZAR 4 billion (USD 280 million) in property finance loans to more than 1,000 entrepreneurs.
✓ Property finance book
✓ Including verified green loans
TUHF is a development finance company that provides financing to entrepreneurs, landlords, and social organisations for the purchase, construction, conversion and improvement of properties in inner cities. Since commencing operations in 1993, TUHF has disbursed over ZAR 4 billion (USD 280 million) in property finance loans to more than 1,000 entrepreneurs.
Banque de l’Habitat du Senegal (BHS) is the largest mortgage and property development finance provider in Senegal, with 70% and 75% market share respectively. Since inception, BHS has provided over 200,000 mortgages for social housing in Senegal.
✓ First time issuer
✓ Property finance book
✓ First housing bank to issue bond in UEMOA region
Banque de l’Habitat du Senegal (BHS) is the largest mortgage and property development finance provider in Senegal, with 70% and 75% market share respectively. Since inception, BHS has provided over 200,000 mortgages for social housing in Senegal.
Nedbank Group is one of the largest financial services groups in Africa. Nedbank is coming to market with its first green bond – encompassing solar and wind assets – under the Climate Bonds Standards. This is part of the company’s new SDG Impact MTN program, which sets in place guidelines for sustainable, green, and social impact bonds.
✓ Future lending in SA's successful renewable energy program
✓ Refinancing of four solar and wind assets operating under the REIPPP programme.
Nedbank Group is one of the largest financial services groups in Africa. Nedbank is coming to market with its first green bond – encompassing solar and wind assets – under the Climate Bonds Standards. This is part of the company’s new SDG Impact MTN program, which sets in place guidelines for sustainable, green, and social impact bonds.
North South Power Company (NSP) is the operator of a 30-year concession on the 600MW Shiroro Hydroelectric Power Plant. Fed by the Kaduna River, it generates ca. 8% of Nigeria’s grid power. The company runs an on-grid operational model and its plant has four generating units with an individual capacity of 150MW. The company distributes power through the grid to distribution companies across Nigeria and is the primary supplier of power to the Federal Capital Territory, Abuja.
✓ Local commercial banks have limited capacity for new loans to domestic power sector operators. Through InfraCredit and the ALCB Fund, the Company was able to access long-term institutional funding to match the profile of infrastructure assets, the first of its kind by a privatized power Generating Company (GenCo).
✓ The Green Bonds is the first certified green corporate bond and the longest tenured (15 year) corporate bond issued in the Nigerian debt capital market, and provides a benchmark for similar future issuances in the grid-based power sector.
North South Power Company (NSP) is the operator of a 30-year concession on the 600MW Shiroro Hydroelectric Power Plant. Fed by the Kaduna River, it generates ca. 8% of Nigeria’s grid power. The company runs an on-grid operational model and its plant has four generating units with an individual capacity of 150MW. The company distributes power through the grid to distribution companies across Nigeria and is the primary supplier of power to the Federal Capital Territory, Abuja.
Oragroup is a pan-African financial service provider with operations in 12 countries across francophone West and Central Africa with a focus on serving SMEs.
✓ Proceeds will support Oragroup’s business growth in Gabon and Chad, and to facilitate entry into Cameroon and Congo. The bond will target the CEMAC investor community, helping to diversify funding sources and match the currency of Oragroup’s loans.
✓ This is Oragroup’s first time issuing a bond in the CEMAC region where it is only the third known corporate bond issued in the past decade.
✓ Oragroup is the largest SME lender in Franco-Africa and has partnered with several DFIs to support lending to sectors often overlooked by banks. SMEs are its largest client base and compose 31% of the group and 35% of the CEMAC loan portfolio.
Oragroup is a pan-African financial service provider with operations in 12 countries across francophone West and Central Africa with a focus on serving SMEs.
Mixta Nigeria is a property development company with developments currently ongoing in Lagos and Port Harcourt and stretching across a variety of affordable, middle and luxury retail residential properties. Mixta has a robust affordable housing pipeline for which the ALCB Fund’s proceeds will be directed towards, the largest of which is the affordable housing development Residence de la Paix. The first two phases are on-going and is expected to be the first of many subsequent phases across Nigeria. The affordable housing sector is both challenging and high impact, and Mixta is one of the few bankable companies serving the area.
✓ Anchor investment in the firm’s first unguaranteed tranche to maximize investor reach and contribute to market stability.
✓ Refinance of expensive bank debt; first time for the firm to issue 5-year debt.
✓ Sectoral development: use of proceeds will be directed towards a robust pipeline of affordable housing.
Mixta Nigeria is a property development company with developments currently ongoing in Lagos and Port Harcourt and stretching across a variety of affordable, middle and luxury retail residential properties. Mixta has a robust affordable housing pipeline for which the ALCB Fund’s proceeds will be directed towards, the largest of which is the affordable housing development Residence de la Paix. The first two phases are on-going and is expected to be the first of many subsequent phases across Nigeria. The affordable housing sector is both challenging and high impact, and Mixta is one of the few bankable companies serving the area.
Growthpoint is a South African real estate investment trust (REIT). The company manages a diverse range of retail, industrial and housing properties and is at the forefront in the development of sustainable building practices. In 2018, Growthpoint issued the first non-FI green bond in South Africa and now soon expects all of its properties to be Green Building Council of South Africa (GBCSA) Green Star certified.
✓ First corporate green bond in SA
✓ First long-dated (10Y) bond by Issuer
✓ Job creation; building use in target sectors
Growthpoint is a South African real estate investment trust (REIT). The company manages a diverse range of retail, industrial and housing properties and is at the forefront in the development of sustainable building practices. In 2018, Growthpoint issued the first non-FI green bond in South Africa and now soon expects all of its properties to be Green Building Council of South Africa (GBCSA) Green Star certified.
Senelec is the Senegalese power utility responsible for the production, transport, distribution and sale of electricity. The company has been raising funds through the local market to support improved power supply/services, including the integration of renewable energy in the power supply.
✓ First company bond issuance since 2003
✓ Job creation; improved electricity access to target sectors
✓ Responsible consumption through improved grid efficiency
✓ Distribution upgrades to accommodate new renewables generations
Senelec is the Senegalese power utility responsible for the production, transport, distribution and sale of electricity. The company has been raising funds through the local market to support improved power supply/services, including the integration of renewable energy in the power supply.
LAPO Microfinance Bank Ltd. is Nigeria’s largest microfinance bank and provides pro-poor financial solutions through its 406 branches to over two million clients. LAPO’s portfolio is composed of group loans largely catered to female entrepreneurs as well as products catered to SMEs, education, solar lighting and incremental housing finance.
✓ Reduced foreign currency exposure and diversified funding sources
✓ First Nigerian microfinance bank to issue bond in Nigeria
✓ Micro-entrepreneurs, MSMEs, education, renewable energy, housing
LAPO Microfinance Bank Ltd. is Nigeria’s largest microfinance bank and provides pro-poor financial solutions through its 406 branches to over two million clients. LAPO’s portfolio is composed of group loans largely catered to female entrepreneurs as well as products catered to SMEs, education, solar lighting and incremental housing finance.
Select Malawi is a retail financial services company that provides unsecured lending primarily to civil servants. The company’s competitive strength lies in the provision of incremental housing microfinance loans in cooperation with Habitat for Humanity, who offer technical advice to clients looking to build their own homes.
✓ Proceeds used for housing and micro-credit
✓ First corporate issuance in Malawi
Select Malawi is a retail financial services company that provides unsecured lending primarily to civil servants. The company’s competitive strength lies in the provision of incremental housing microfinance loans in cooperation with Habitat for Humanity, who offer technical advice to clients looking to build their own homes.
Alios Finance Cote d’Ivoire provides leasing finance and micro-loans to SMEs and corporates and individuals (public and private sector employees). Leasing products are largely for the utilisation of moveable productive assets including heavy equipment and vehicles. The company serves the UEMOA region, with subsidiaries in Mali, Senegal and Burkina Faso.
✓ Provider of financial services for SME/micro-enterprise development
✓ First publicly listed issuance by company
✓ Regional bond with proceeds allocated to Burkina, Senegal and Mali
Alios Finance Cote d’Ivoire provides leasing finance and micro-loans to SMEs and corporates and individuals (public and private sector employees). Leasing products are largely for the utilisation of moveable productive assets including heavy equipment and vehicles. The company serves the UEMOA region, with subsidiaries in Mali, Senegal and Burkina Faso.
Lesana is a retail financial services company specialized in the provision of incremental housing microfinance loans. The company is the second largest micro-lender in Lesotho, serving civil servants and salaried private sector individuals. The company is a member of the Select Africa group.
✓ Proceeds used for housing and micro-credit
✓ First corporate issuance in Lesotho (2016)
✓ Second corporate issuance in Lesotho (2019)
✓ Technical support to regulatory authorities (2016)
Lesana is a retail financial services company specialized in the provision of incremental housing microfinance loans. The company is the second largest micro-lender in Lesotho, serving civil servants and salaried private sector individuals. The company is a member of the Select Africa group.
ZHL is a mortgage finance company providing local currency long-term financing (up to 21 years) to low and middle-income home builders or buyers. It is the only lender in the country that provides incremental mortgages for the construction of a home.
✓ Provider of affordable housing finance
✓ Diversification of issuer’s investor base
✓ Reduced asset-liability mismatch and longer maturity profile
ZHL is a mortgage finance company providing local currency long-term financing (up to 21 years) to low and middle-income home builders or buyers. It is the only lender in the country that provides incremental mortgages for the construction of a home.
Baobab Sénégal is a pro-poor financial institution committed to providing financial services and products to individuals underserved by the financial sector, particularly MSME entrepreneurs. Baobab Senegal is part of the Baobab Group, operating in nine African and Asian countries.
✓ First time issuer
✓ MSME lending book (2016 & 2019)
✓ First traditional MFI to issue bond in UEMOA region
Baobab Sénégal is a pro-poor financial institution committed to providing financial services and products to individuals underserved by the financial sector, particularly MSME entrepreneurs. Baobab Senegal is part of the Baobab Group, operating in nine African and Asian countries.
Madison Finance is a Zambian deposit-taking microfinance institution that provides specialist lending to SMEs and individual borrowers. The company has 17 branches nationwide with over 21,000 borrowers.
✓ SME and micro-lending book
✓ First time issuer
Madison Finance is a Zambian deposit-taking microfinance institution that provides specialist lending to SMEs and individual borrowers. The company has 17 branches nationwide with over 21,000 borrowers.
CRRH is a mortgage refinancing facility operating across the UEMOA region. The facility provides long-term funding to mortgage banks with the objective of facilitating the development of the regional mortgage market. In 2017, CRRH introduced a secondary facility in partnership with international organizations to develop a dedicated credit line for supporting affordable housing finance.
✓ First time bond issuer
✓ Innovative financing structure for mortgages
✓ Proceeds used for the development of affordable housing
CRRH is a mortgage refinancing facility operating across the UEMOA region. The facility provides long-term funding to mortgage banks with the objective of facilitating the development of the regional mortgage market. In 2017, CRRH introduced a secondary facility in partnership with international organizations to develop a dedicated credit line for supporting affordable housing finance.
Bayport is a regional microfinance institution with operations across the continent.
Bayport is a regional microfinance institution with operations across the continent.
Bayport Mozambique is a provider of affordable credit and banking solutions for individuals working in the civil service; with most clients working in the Education (67%) and Health (11%) ministries/departments. The company offers unsecured credit with a duration of up to 72 months through at source deductions.
Bayport Mozambique is a provider of affordable credit and banking solutions for individuals working in the civil service; with most clients working in the Education (67%) and Health (11%) ministries/departments. The company offers unsecured credit with a duration of up to 72 months through at source deductions.
CBAO, a subsidiary of Attijariwafa bank Group (Ba1 Moody’s), is the largest financial institution in Senegal, with additional branches in Niger, Burkina Faso and Benin. The company has over 93 branches, offering wholesale and retail banking services to individuals, SMEs and large corporates. This transaction was CBAO’s fourth bond issuance and ALCB Fund’s sixth investment in Senegal. ALCB Fund participating in this issuance: (a) supported the company in a successful subordinated bond issuance, a transaction structure that remains uncommon in the region, (b) utilised the ALCBF’s KFW-XOF facility to a Senegalese entity, and (c) supported the Fund in balancing its portfolio with investments in higher-quality issuers while deploying excess cash currently held.
CBAO, a subsidiary of Attijariwafa bank Group (Ba1 Moody’s), is the largest financial institution in Senegal, with additional branches in Niger, Burkina Faso and Benin. The company has over 93 branches, offering wholesale and retail banking services to individuals, SMEs and large corporates. This transaction was CBAO’s fourth bond issuance and ALCB Fund’s sixth investment in Senegal. ALCB Fund participating in this issuance: (a) supported the company in a successful subordinated bond issuance, a transaction structure that remains uncommon in the region, (b) utilised the ALCBF’s KFW-XOF facility to a Senegalese entity, and (c) supported the Fund in balancing its portfolio with investments in higher-quality issuers while deploying excess cash currently held.
ECOWAS Bank for Investment and Development (EBID) is a regional DFI with a mandate to promote the economic integration and development of the ECOWAS region, supporting both private and public sector projects in member states. EBID intervenes through short, medium, and long-term loans and limited equity investments, and is a strong avenue for channel funding to projects and businesses.
ECOWAS Bank for Investment and Development (EBID) is a regional DFI with a mandate to promote the economic integration and development of the ECOWAS region, supporting both private and public sector projects in member states. EBID intervenes through short, medium, and long-term loans and limited equity investments, and is a strong avenue for channel funding to projects and businesses.
KMRC is a non-deposit taking financial services company specialising in the refinancing of mortgage loans in Kenya. The company provides low-cost long-dated funding to Primary Mortgage Lenders (PMLs), improving affordability and availability of housing finance in Kenya.
KMRC is a non-deposit taking financial services company specialising in the refinancing of mortgage loans in Kenya. The company provides low-cost long-dated funding to Primary Mortgage Lenders (PMLs), improving affordability and availability of housing finance in Kenya.
Letshego Namibia provides deduction at source (DAS) loans to government and private sector employees, as well as loans to the micro and small enterprises. The company serves over 50,000 customers through its two wholly owned subsidiaries: (a) Letshego Bank Namibia Limited, and (b) Letshego Micro Financial Services Namibia Limited (LMFSN).
Letshego Namibia provides deduction at source (DAS) loans to government and private sector employees, as well as loans to the micro and small enterprises. The company serves over 50,000 customers through its two wholly owned subsidiaries: (a) Letshego Bank Namibia Limited, and (b) Letshego Micro Financial Services Namibia Limited (LMFSN).
Standard Bank Namibia (SBN) is a subsidiary of the Standard Bank Group, one of the largest financial services groups operating 20 subsidiaries across Africa. Standard Bank Namibia is a financial institution that offers banking and financial services to individuals, businesses, institutions, and corporations. SBN is issuing its debut green bond, under its already established MTN program, to finance renewable energy projects.
Standard Bank Namibia (SBN) is a subsidiary of the Standard Bank Group, one of the largest financial services groups operating 20 subsidiaries across Africa. Standard Bank Namibia is a financial institution that offers banking and financial services to individuals, businesses, institutions, and corporations. SBN is issuing its debut green bond, under its already established MTN program, to finance renewable energy projects.
Watu Credit is a Kenya NBFI offering asset-financing for the purchase of boda bodas (motorcycle taxi) and tuktuks (three-wheel). Operating since 2015, Watu currently has over 71,000 active borrowers and operates through 23 branches and 290 partner dealerships.
Watu Credit is a Kenya NBFI offering asset-financing for the purchase of boda bodas (motorcycle taxi) and tuktuks (three-wheel). Operating since 2015, Watu currently has over 71,000 active borrowers and operates through 23 branches and 290 partner dealerships.
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