{"id":620067,"date":"2024-05-15T00:00:00","date_gmt":"2024-05-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/15\/ifc-pledges-usd-50-mn-to-support-mid-cap-companies-in-africa\/"},"modified":"2024-05-15T00:00:00","modified_gmt":"2024-05-15T00:00:00","slug":"ifc-pledges-usd-50-mn-to-support-mid-cap-companies-in-africa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/15\/ifc-pledges-usd-50-mn-to-support-mid-cap-companies-in-africa\/","title":{"rendered":"IFC pledges USD 50 mn to support mid-cap companies in Africa"},"content":{"rendered":"

The International Finance Corporation (IFC) has earmarked USD 50 mn to invest <\/strong>in SPE PEF III<\/strong> \u2014 an SPE Capital-run<\/a> private equity fund that focuses on mid-cap companies in Africa \u2014 to support entrepreneurs and create more jobs, according to a statement (pdf)<\/a> from the IFC. At least a quarter of the fund\u2019s capital will go to women entrepreneurs.<\/p>\n

How will the funds be allocated?<\/strong> Some USD 30 mn will be funneled into the fund via an equity investment, while the remaining USD 20 mn will be funded via a co-investment, the lender explained.<\/p>\n

Local currency swap with Banque Misr:<\/strong> The IFC has also agreed to a local currency swap with Banque Misr to boost the IFC\u2019s lending capacity to local companies with limited access to foreign currency.<\/p>\n

Part of a bigger package: <\/strong>This comes as part of a USD 150 mn package, which also includes on-lent financing for Banque du Caire and an advisory program for the Universal Health Ins. Authority \u2014 both of which were announced earlier this week during the IFC\u2019s Regional Vice President for Africa S\u00e9rgio Pimenta\u2019s visit to Egypt.<\/p>\n

ICYMI:<\/strong> The IFC has agreed to grant Banque du Caire USD 100 mn<\/a> in financing, half of which will be on-lent to micro, small, and medium enterprises, and female entrepreneurs, while USD 50 mn will support the country\u2019s imports and exports under the IFC Global Trade Finance Program.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IFC has also agreed to a local currency swap with Banque Misr<\/p>\n","protected":false},"author":1,"featured_media":620068,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7576],"tags":[726,576,101,72,759,287,1831],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-banque-du-caire","tag-banque-misr","tag-development-finance","tag-enterpriseam","tag-international-finance-corporation","tag-smes","tag-spe-capital","wpautop","entry"],"acf":{"mongo_id":"fea3cd6f-9b28-46d7-97c9-f2a8efe23a6f","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1080.jpg","photo_position":"above","homepage_title":"","full_issue_title":"IFC pledges USD 50 mn to support mid-cap companies in Africa as part of a wider USD 150 mn package","related_issue":[620053],"teaser":"The IFC has also agreed to a local currency swap with Banque Misr","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.799ed609-9e40-42d6-bff6-9b73e0f29f25.mp3"},"yoast_head":"\nIFC pledges USD 50 mn to support mid-cap companies in Africa - 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USD 142 mn for its SME-focused PE fund, LCP II. Limited partners in LCP II include\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/28.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":587527,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/banque-misr-could-soon-get-a-usd-260-mn-loan-from-ifc\/","url_meta":{"origin":620067,"position":2},"title":"Banque Misr could soon get a USD 260 mn loan from IFC","author":"enterpriseam admin","date":"29 May 2023","format":false,"excerpt":"The bank will use the loan for on-lending to local MSMEs and women-owned SMEs","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1533.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571135,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/30\/spotlight-walid-labadi-egypt-country-manager-at-the-international-finance-corporation-on-investment-in-the-corona-era\/","url_meta":{"origin":620067,"position":3},"title":"Spotlight: Walid Labadi, Egypt country manager at the International Finance Corporation, on investment in the corona era","author":"enterpriseam admin","date":"30 April 2020","format":false,"excerpt":"What\u2019s a private equity investor to do in the time of covid-19? The International Finance Corporation has ideas. Earlier this month, the International Finance Corporation (IFC) announced a USD 20 mn investment in SPE AIF I, an Egypt and North Africa-focused PE fund managed by SPE Capital Partners. In SPE,\u2026","rel":"","context":"In "Spotlight"","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/264.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545754,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/11\/algebra-lands-usd-15-mn-from-ifc-for-new-fund\/","url_meta":{"origin":620067,"position":4},"title":"Algebra lands USD 15 mn from IFC for new fund","author":"enterpriseam admin","date":"11 April 2022","format":false,"excerpt":"The IFC has committed USD 15 mn to Algebra\u2019s second tech fund: The International Finance Corporation (IFC) has confirmed that it will pour USD 15 mn into Algebra Ventures\u2019 USD 90 mn second tech fund, it said in a statement. The investment was approved by the international lender\u2019s board in\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592918,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/12\/ifc-could-invest-usd-25-mn-in-lorax-capital-sme-pe-fund\/","url_meta":{"origin":620067,"position":5},"title":"IFC could invest USD 25 mn in Lorax Capital SME PE fund","author":"enterpriseam admin","date":"12 November 2019","format":false,"excerpt":"INVESTMENT WATCH- IFC could put USD 25 mn into Lorax SME PE fund: The International Finance Corporation could provide USD 25 mn to the Egyptian American Enterprise Fund\u2019s Lorax Capital Partners, which is looking to raise USD 250 mn for its new SME-focused private equity fund, according to the local\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/620067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=620067"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/620067\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/620053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/620068"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=620067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=620067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=620067"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=620067"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=620067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}