IFC proposes investment in West African SME fund
The IFC has disclosed a proposed equity investment of up to $10 million in the Oasis Africa Fund II.
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The International Finance Corporation (IFC) has disclosed a proposed equity investment of up to $10 million, capped at 20% of total commitments, into the Oasis Africa Fund II (OAF Fund II), managed by Oasis Capital Ghana.
OAF Fund II targets small and medium-sized enterprises (SMEs) serving the growing African middle-income population using scalable business models.
The fund will seek to build a portfolio of up to 16 investments, utilising a mix of convertible debt, mezzanine, and equity instruments. Investment ticket sizes will range from $1 million to $10 million.
While the primary focus will be on Ghana and Côte d’Ivoire, the fund will also consider opportunistic investments in Senegal and Liberia.
The fund has a target size of $70 million.
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