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Investment
Country
Status
CRRH I
Active
CRRH I
CRRH (Caisse Régionale de Refinancement Hypothécaire) is a regional mortgage refinancing institution established in 2010. The organization's primary objective is to refinance mortgage portfolios of regional commercial banks, with a particular focus on mid-sized and smaller institutions. CRRH was created to stimulate housing development in response to the region's significant housing needs in the UEMOA region.
Issue Date
Oct-13
Maturity Date
Feb-38
Sector
Issuer
CRRH
Group
CRRH
Reasons of Investment
The ALBF's participation as the first non-regional purchaser of CRRH's bonds brings significant strategic value to encourage further interest from international DFIs and commercial investors. The ALCB Fund reinvested USD 10.1 million in 2023.
Status
Active
LCY
XOF
Investment (LCY)
7,600,000,000
Investment (USD)
13,291,651
Co-Investment (USD million)
SDG Contributions
CRRH II
Active
CRRH II
CRRH (Caisse Régionale de Refinancement Hypothécaire) is a regional mortgage refinancing institution established in 2010. The organization's primary objective is to refinance mortgage portfolios of regional commercial banks, with a particular focus on mid-sized and smaller institutions. CRRH was created to stimulate housing development in response to the region's significant housing needs in the UEMOA region.
Issue Date
Nov-17
Maturity Date
Nov-29
Sector
Issuer
CRRH
Group
CRRH
Reasons of Investment
The ALBF's reinvestment in CRRH's bonds brings significant strategic value to encourage further interest from international DFIs and commercial investors.
Status
Active
LCY
XOF
Investment (LCY)
844,580,000
Investment (USD)
1,501,293
Co-Investment (USD million)
273.47
SDG Contributions
Custom Capital
Active
Custom Capital
Custom Capital Finance Holdings (Custom Capital) is an alternative lender that provides finance to underserved SMEs in South Africa. The company was founded in 2001, as an asset-based rental finance provider, and expanded its product offering through the acquisition of an invoice discounting business in 2020.
Issue Date
Nov-24
Maturity Date
Nov-27
Sector
Issuer
Custom Capital
Group
Custom Capital
Reasons of Investment
The transaction will allowed the ALCB Fund to support an issuer in a sector of developmental interest, which the Fund views as a pathway to build a long-term relationship with the Issuer, potentially leading to a thematic issuance in subsequent tranches.
Status
Active
LCY
ZAR
Investment (LCY)
100,000,000
Investment (USD)
5,522,726
Co-Investment (USD million)
SDG Contributions
Dufil Prima Foods
Matured
Dufil Prima Foods
Dufil Prima Foods Ltd was established in 2001 after starting its initial operations as De United Foods Industries Limited in 1996 in Ota, Ogun State, making it the first instant noodle manufacturing plant in Nigeria. In 2008, the company was restructured and converted into a public limited company, expanding its operations across Nigeria.
Issue Date
Aug-17
Maturity Date
Sep-22
Sector
Issuer
Dufil Prima Foods
Group
Dufil
Reasons of Investment
ALCB has invested in this transaction to support Dufil's debut bond issuance, playing an important role in helping fill the book and ensure a successful reopening of Nigeria's corporate bond market, which has seen limited activity over the past 24 months due to tight domestic liquidity and widening credit spreads, even for established issuers.
Status
Matured
LCY
NGN
Investment (LCY)
1,400,000,000
Investment (USD)
3,835,616
Co-Investment (USD million)
23.56
SDG Contributions
EBID I
Active
EBID I
EBID emerged as a banking group after the transformation of the Fund for Cooperation, Compensation and Development of ECOWAS in 1999. EBID provides services such as long, medium, and short-term loans, equity participation, lines of credit, and financial engineering operations among others to support developmental projects across West Africa.
Issue Date
May-21
Maturity Date
May-28
Sector
Issuer
EBID
Group
EBID
Reasons of Investment
ALCB has invested in this transaction to support one of the largest bond issuances in the UEMOA region, ensuring its success during a period of heightened economic uncertainty.
Status
Active
LCY
XOF
Investment (LCY)
4,500,000,000
Investment (USD)
7,446,753
Co-Investment (USD million)
SDG Contributions
EBID II
Active
EBID II
EBID emerged as a banking group after the transformation of the Fund for Cooperation, Compensation and Development of ECOWAS in 1999. EBID provides services such as long, medium, and short-term loans, equity participation, lines of credit, and financial engineering operations among others to support developmental projects across West Africa.
Issue Date
Jun-22
Maturity Date
Jun-29
Sector
Issuer
EBID
Group
EBID
Reasons of Investment
ALCB has reinvested in this transaction to support one of the largest bond issuances in the UEMOA region, ensuring its success during a period of heightened economic uncertainty.
Status
Active
LCY
XOF
Investment (LCY)
3,057,500,000
Investment (USD)
5,083,438
Co-Investment (USD million)
SDG Contributions
EBID III
Active
EBID III
EBID emerged as a banking group after the transformation of the Fund for Cooperation, Compensation and Development of ECOWAS in 1999. EBID provides services such as long, medium, and short-term loans, equity participation, lines of credit, and financial engineering operations among others to support developmental projects across West Africa.
Issue Date
Jul-24
Maturity Date
Jul-31
Sector
Issuer
EBID
Group
EBID
Reasons of Investment
ALCB has invested in this transaction to support an existing client's innovative thematic GSS bond issuance while strengthening EBID's private sector investments in key developmental sectors such as agriculture, infrastructure, industry, and SME lending.
Status
Active
LCY
XOF
Investment (LCY)
3,000,000,000
Investment (USD)
4,977,765
Co-Investment (USD million)
SDG Contributions
ENDA Tamweel
Active
ENDA Tamweel
Founded in 1990, ENDA Tamweel is the pioneer microfinance institution in Tunisia, focusing on empowering marginalized households, particularly women and youth. Originally part of an NGO, it began microcredit operations in 1995. The institution transitioned to focus solely on microfinance after a significant milestone when it completed over 500,000 client services by 2015, allowing it to expand its operations and impact.
Issue Date
Nov-20
Maturity Date
Oct-25
Sector
Issuer
ENDA Tamweel
Group
ENDA Tamweel
Reasons of Investment
ALCB has invested in this transaction to support Enda Tamweel's continued participation in Tunisia's local capital market, ensuring the success of the issuance during economic uncertainty while marking ALCB's first investment in the country and encouraging further microfinance institution issuances.
Status
Active
LCY
TND
Investment (LCY)
5,000,000
Investment (USD)
1,800,504
Co-Investment (USD million)
9
SDG Contributions
Ecobank CDI
Active
Ecobank CDI
Ecobank Côte d’Ivoire SA (ECI) is an Ivorian commercial bank that provides a range of savings and lending products. Since its inception in 1998, ECI has grown to become one of the three leading banks in Côte d’Ivoire.
Issue Date
Mar-25
Maturity Date
Mar-30
Sector
Issuer
Ecobank
Group
Ecobank Transnational Incorporated (ETI)
Reasons of Investment
This transaction allowed the Fund to support the first gender bond in the UEMOA region, paving the way for more similar thematic issuances, and channel funding to support women focused MSMEs.
Status
Active
LCY
XOF
Investment (LCY)
4,900,000,000
Investment (USD)
8,076,551
Co-Investment (USD million)
SDG Contributions
FCTC BOAD I
Active
FCTC BOAD I
The West African Development Bank (BOAD), also known as Banque Ouest Africaine de Développement, was established in 1973 to serve the nations of Francophone and Lusophone West Africa. Headquartered in Lomé, Togo, BOAD operates as a regional financial institution with a mandate to promote development and foster economic integration within West Africa. The bank serves eight member states: Benin, Burkina Faso, Guinea-Bissau, Côte d'Ivoire, Mali, Niger, Senegal, and Togo. BOAD offers a range of financial products and services, including long- and medium-term loans, equity investments, and guarantees, focusing on key areas such as infrastructure development, poverty reduction, and private sector promotion
Issue Date
May-23
Maturity Date
Mar-30
Sector
Issuer
FCTC BOAD
Group
Banque Ouest Africaine De Développement (BOAD)
Reasons of Investment
ALCB has invested in this landmark securitisation to support BOAD's first and one of the region's largest issuances, aiming to ensure its success and encourage future similar transactions in the area.
Status
Active
LCY
XOF
Investment (LCY)
6,125,000,000
Investment (USD)
10,401,978
Co-Investment (USD million)
252.19
SDG Contributions
FCTC BOAD II
Active
FCTC BOAD II
The West African Development Bank (BOAD), also known as Banque Ouest Africaine de Développement, was established in 1973 to serve the nations of Francophone and Lusophone West Africa. Headquartered in Lomé, Togo, BOAD operates as a regional financial institution with a mandate to promote development and foster economic integration within West Africa. The bank serves eight member states: Benin, Burkina Faso, Guinea-Bissau, Côte d'Ivoire, Mali, Niger, Senegal, and Togo. BOAD offers a range of financial products and services, including long- and medium-term loans, equity investments, and guarantees, focusing on key areas such as infrastructure development, poverty reduction, and private sector promotion
Issue Date
Aug-24
Maturity Date
Nov-29
Sector
Issuer
FCTC BOAD
Group
Banque Ouest Africaine De Développement (BOAD)
Reasons of Investment
ALCB has invested in BOAD's second securitisation to support the pioneering multi-tranche issuance in the UEMOA region, featuring the first truly bankruptcy remote vehicle and introducing a mezzanine tranche open to investors.
Status
Active
LCY
XOF
Investment (LCY)
6,000,000,000
Investment (USD)
10,162,139
Co-Investment (USD million)
SDG Contributions
FCTC Cofina
Matured
FCTC Cofina
FCTC Cofina was founded in 2013 to support small African entrepreneurs by addressing the financing gap known as the 'missing middle'. The organization aims to provide financial services to 90% of businesses in Africa that are often underfunded.
Issue Date
May-18
Maturity Date
Nov-19
Sector
Issuer
FCTC Cofina
Group
Cofina Group
Reasons of Investment
ALCB has invested in this transaction to support one of the first public securitization deals by a corporate in the West African Monetary Union, aiming to prove the concept as a viable funding source for microfinance institutions and potentially other sectors like housing and home solar systems providers, with the structure and documentation prepared by a Paris-based securitization expert.
Status
Matured
LCY
XOF
Investment (LCY)
1,407,650,000
Investment (USD)
2,541,318
Co-Investment (USD million)
16.44
SDG Contributions
FCTC NSIA Banque
Active
FCTC NSIA Banque
NSIA Banque is part of the NSIA Group which was founded in 1995. It has undergone development stages, including its first securitization of CFAF 40 billion in early 2020. NSIA Banque offers lending products, credit cards, account management, and investment services through its network of over 80 branches.
Issue Date
Mar-20
Maturity Date
Mar-25
Sector
Issuer
FCTC NSIA Banque
Group
NSIA Banque CI
Reasons of Investment
ALCB has invested in this transaction to support the UEMOA region's third securitisation and the first by a commercial bank, playing a catalytic role in helping the issuer reach its fundraising target and validating the structure for local investors with support from IFC.
Status
Active
LCY
XOF
Investment (LCY)
5,552,853,333
Investment (USD)
9,457,401
Co-Investment (USD million)
61.22
SDG Contributions
FCTC PEPT
Active
FCTC PEPT
Fonds PEPT (Fonds pour le Programme Electricité Pour Tous) is a fund in Côte d'Ivoire that launched the first social bond emission. It aims to finance the "Electricity for All" program, improving access to electricity for underserved populations
Issue Date
Nov-23
Maturity Date
Nov-30
Sector
Issuer
Fonds PEPT
Group
Fonds PEPT
Reasons of Investment
ALCB has invested in this innovative electricity sector receivables securitisation to support its development in the UEMOA region, while also contributing to the improvement of the securitisation framework by providing insights to key stakeholders, including the issuer, regulator, legal advisors, and other market participants.
Status
Active
LCY
XOF
Investment (LCY)
6,000,000,000
Investment (USD)
10,016,815
Co-Investment (USD million)
100.17
SDG Contributions
FINCORP
Matured
FINCORP
FINCORP, also known as Eswatini Development Finance Corporation, was launched in November 1995 with the main objective of economically empowering Emaswati by providing accessible financial services.
Issue Date
Apr-18
Maturity Date
Mar-23
Sector
Issuer
FINCORP
Group
FINCORP
Reasons of Investment
ALCB has invested in this transaction to support Fincorp's new 5-year bond program on the Eswatini Stock Exchange (ESE, formerly SSX), aiming to extend market appetite beyond the previously limited 3-year notes and contribute to the development of the nascent exchange, which has existed since 1989 but currently hosts only seven listed companies and four corporate bond issuers.
Status
Matured
LCY
SZL
Investment (LCY)
48,000,000
Investment (USD)
3,342,618
Co-Investment (USD million)
31.92
SDG Contributions
GetBucks Botswana
Matured
GetBucks Botswana
GetBucks Botswana began operations in 2012 and has undergone changes in management and service strategy, including a transition to operate under MyBucks S.A. to better serve the underbanked market.
Issue Date
Feb-17
Maturity Date
Dec-22
Sector
Issuer
GetBucks Botswana
Group
MyBucks
Reasons of Investment
Status
Matured
LCY
BWP
Investment (LCY)
46,000,000
Investment (USD)
4,603,503
Co-Investment (USD million)
7.09
SDG Contributions
Ghana Home Loans
Matured
Ghana Home Loans
Ghana Home Loans was established in 2006 with an initial focus on providing mortgage products to Ghanaians. It operated initially as a non-bank financial institution and has since transformed into a universal bank known as GHL Bank. Throughout its history, the institution has aimed to address the significant demand for home loan financing in Ghana.
Issue Date
Feb-19
Maturity Date
May-20
Sector
Issuer
Ghana Home Loans
Group
Ghana Home Loans
Reasons of Investment
ALCB has invested in this second tranche of GHL's innovative bond program to catalyze investment in Ghana's underdeveloped housing sector, supporting a unique mortgage refinancing structure and aiming to improve investor confidence following lower-than-expected domestic participation in the first tranche.
Status
Matured
LCY
USD
Investment (LCY)
1,480,000
Investment (USD)
1,480,000
Co-Investment (USD million)
1.56
SDG Contributions
Growthpoint
Active
Growthpoint
Growthpoint Properties was established in November 1987 and listed under the financial sector of the JSE with 17 properties. Over the years, it evolved into the largest South African-listed property company with diversified investments in various sectors and countries, including South Africa, Australia, and Eastern Europe.
Issue Date
Mar-18
Maturity Date
Dec-28
Sector
Issuer
Growthpoint Properties
Group
Growthpoint Properties
Reasons of Investment
ALCB has invested in this transaction to support the first corporate green bond issued by a non-financial institution in South Africa, aiming to catalyze the development of green financing in the country by establishing replicable market standards through the Green Building Council, while enabling the issuer to raise 10-year funding for the first time in South African capital markets.
Status
Active
LCY
ZAR
Investment (LCY)
52,000,000
Investment (USD)
4,679,000
Co-Investment (USD million)
94.3
SDG Contributions
HFC
Matured
HFC
HFC (Home Finance Company) is Ghana's leading housing finance institution headquartered in Accra. Established in 1990, the company became a public entity in 1994 and was listed on the Ghana Stock Exchange in 1995. HFC Bank Ghana has been rebranded as Republic Bank (Ghana) PLC following an acquisition.
Issue Date
Dec-13
Maturity Date
Dec-16
Sector
Issuer
HFC
Group
HFC
Reasons of Investment
The investment aligns with ALBF's "additionality" objective by supporting an extremely rare public bond issue in GHS, contributing to the development of Ghana's local capital markets.
Status
Matured
LCY
GHS
Investment (LCY)
5,000,000
Investment (USD)
2,074,689
Co-Investment (USD million)
31.12
SDG Contributions
Honde Hydro
Matured
Honde Hydro
Honde Hydro Power Consolidated (Pvt) Ltd develops and operates renewable energy (primarily small-scale hydroelectric) power stations in the Nyangani massif of Zimbabwe’s Eastern Highlands. Its first project was the Nyamingura power station (NPS), which was commissioned in January 2010 and since then, the company has commissioned five additional hydro-electric power stations; a 2.5MW solar project was constructed in 2017 and commissioned in January 2018.
Issue Date
Jun-18
Maturity Date
Nov-22
Sector
Issuer
Honde Hydro Power
Group
Honde Hydro Power
Reasons of Investment
ALCB has invested in this transaction to support HHPC's second bond issuance, aiming to help the company reach its USD 10 million target by accessing new investors in Zimbabwe's limited market, where liquidity is low and viable credits are scarce, while recognizing HHPC's suitability for bond issuance as a corporate in the infrastructure space with existing assets.
Status
Matured
LCY
ZWD
Investment (LCY)
2,250,000
Investment (USD)
747,012
Co-Investment (USD million)
7.75
SDG Contributions
IZWE Ghana
Matured
IZWE Ghana
Izwe Savings & Loans was established in 2011 as part of the Izwe Africa Group, which was founded in South Africa in 2004. Since its inception, the company has expanded its footprint across Africa, including operations in Ghana. Izwe primarily offers personal loans, business loans, payroll loans, and savings and investment products to individuals and small businesses, focusing on financial empowerment and accessibility.
Issue Date
Mar-19
Maturity Date
Apr-21
Sector
Issuer
Izwe Ghana
Group
Izwe
Reasons of Investment
ALCB has invested in this transaction to support the company's efforts to raise long-term funding through the bond market, enabling it to increase tenors from 5-7 years compared to previous shorter-term issuances, thus contributing to the development of the local capital market's yield curve. The ALCB Fund reinvested in this issuancein 2020.
Status
Matured
LCY
GHS
Investment (LCY)
80,000,000
Investment (USD)
13,992,674
Co-Investment (USD million)
SDG Contributions
IZWE Kenya
Matured
IZWE Kenya
Izwe Kenya was established in 2014 as part of the Izwe Africa Group, a financial institution that began in South Africa in 2008. Izwe Kenya offers personal loans, business loans, asset-backed loans, savings solutions, and investment options mainly aimed at government employees and SMEs in Kenya.
Issue Date
Mar-21
Maturity Date
Mar-24
Sector
Issuer
Izwe Kenya
Group
Izwe
Reasons of Investment
ALCB has invested in this transaction to support a first-time issuer, aiming to revitalize Kenya's corporate bond market by encouraging its reopening and providing funding to the Microlending sector, following a period of regression due to defaults in 2016/17 that diminished investor confidence.
Status
Matured
LCY
KES
Investment (LCY)
250,000,000
Investment (USD)
2,279,884
Co-Investment (USD million)
8.66
SDG Contributions
IZWE Zambia I
Matured
IZWE Zambia I
Izwe Zambia was established in 2008. It is a non-deposit taking financial institution licensed by the Bank of Zambia and is a subsidiary of Izwe Africa Group. Izwe Zambia provides various financial services, including personal loans, salary advance loans, auto loans (Car4Cash), landed property loans, and business financing options. Additionally, it runs the Izwe Pay platform, facilitating digital payments and financial inclusion.
Issue Date
Oct-15
Maturity Date
Oct-19
Sector
Issuer
Izwe Zambia
Group
Izwe
Reasons of Investment
ALCB has invested in this transaction to support IZWE Zambia's first 'market size' issuance, acting as an anchor investor for the 4-year tranche in a challenging Zambian fundraising environment, enabling the company to place a longer tenor that would be difficult or impossible without ALCB's participation, while reaffirming IZWE's position as a repeat issuer in the market.
Status
Matured
LCY
ZMW
Investment (LCY)
36,100,000
Investment (USD)
3,331,119
Co-Investment (USD million)
7.86
SDG Contributions
IZWE Zambia II
Matured
IZWE Zambia II
Izwe Zambia was established in 2008. It is a non-deposit taking financial institution licensed by the Bank of Zambia and is a subsidiary of Izwe Africa Group. Izwe Zambia provides various financial services, including personal loans, salary advance loans, auto loans (Car4Cash), landed property loans, and business financing options. Additionally, it runs the Izwe Pay platform, facilitating digital payments and financial inclusion.
Issue Date
Mar-18
Maturity Date
Mar-23
Sector
Issuer
Izwe Zambia
Group
Izwe
Reasons of Investment
ALCB has reinvested in this transaction to support IZWE Zambia's enabling the company to place a longer tenor that would be difficult or impossible without ALCB's participation, while reaffirming IZWE's position as a repeat issuer in the market.
Status
Matured
LCY
ZMW
Investment (LCY)
50,000,000
Investment (USD)
5,128,205
Co-Investment (USD million)
SDG Contributions
Kenya Mortgage Refinance Company
Active
Kenya Mortgage Refinance Company
Kenya Mortgage Refinance Company (KMRC) was established in August 2018 as a public-private partnership between the Kenyan government and major mortgage lenders. The company was created to address the challenges of home financing in Kenya and is positioned to facilitate greater access to affordable mortgages, thereby contributing to the government's housing agenda. KMRC provides long-term refinancing to primary mortgage lenders, including banks and SACCOs, to support the issuance of affordable mortgages.
Issue Date
Mar-22
Maturity Date
Feb-29
Sector
Issuer
Kenya Mortgage Refinance Company
Group
Kenya Mortgage Refinance Company
Reasons of Investment
ALCB has invested in this transaction to leverage a secured mortgage-finance model, facilitating affordable funding for mortgage lenders through Kenya's corporate bond market, thereby playing a critical role in the success of this first issuance and encouraging further innovation in the housing finance sector.