ASCENT RIFT VALLEY FUND
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The Ascent Rift Valley Fund is an SME fund investing in Ethiopia, Uganda and Kenya. It is managed by Ascent Capital Africa which through its local advisory firms have offices in Nairobi (main office), Addis Ababa and Kampala.
What is our funding objective?
The Ascent Rift Valley Fund has reached a Final Close size at just over US$ 78 mln and provides scarce growth capital to SMEs in Kenya, Uganda and Ethiopia.
Why do we fund this investment?
FMO invests US$ 8 mn alongside a mix of DFI's (OeEB, CDC, Norfund) and commercial investors from Germany, Austria, Switzerland and Liechtenstein as well as local Kenyan pension funds. It is the first time that local Kenyan pension funds invest in a Private Equity SME focused fund. The Fund is an important addition to FMO's Sub Sahara Africa portfolio of SME funds. We believe SMEs are a vital engine for countries' growth and development.
More investments
| Date | Total FMO financing |
|---|---|
| 10/13/2021 | EUR 0.06 MLN |
| 2/27/2019 | EUR 0.02 MLN |
- Website customer/investment
- http://www.ascent-africa.com
- Region
- Africa
- Country
- Africa
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 9/29/2015
- Total FMO financing
- USD 8.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B