BANK OF AFRICA KENYA
Status: Completed 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
Bank of Africa (BOA) Kenya is a public bank providing banking services to retail, corporate and small and medium enterprise clientele. The bank commenced operations in Kenya in July 2004, after acquiring the Kenyan branch of Credit Agricole Indosuez. The bank’s distribution network currently covers Nairobi and Mombasa.
What is our funding objective?
The financing consists of a USD 25 million loan with a 7 year tenor and will be used to provide USD loans to USD earning companies.
Why do we fund this investment?
As an export driven economy, demand for USD denominated loans in Kenya is traditionally high. However, in the Kenyan market, long-term USD financing from commercial parties remains scarce. FMO’s loan will help BOA Kenya to meet the demand for USD loans and increase access to USD financing for USD earning companies. This will also contribute positively to the country’s foreign exchange generation and trade balance.
- Region
- Africa
- Country
- Kenya
- Sector
- Financial Institutions
- Effective date
- 10/17/2014
- End date
- 4/19/2019
- Total FMO financing
- USD 18.48 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