AfDB Approves U.S.$ 15 Million Equity Investment in Shore Capital Fund to Support Inclusive Growth in Africa
Wednesday, June 21, 2017
The Board of Directors of the African Development Bank (AfDB) has approved a US$ 15 million investment in Shore Capital Fund III, a multinational Private Equity Fund which promotes financial inclusion by supporting financial institutions serving Africa’s low income and emerging middle-class communities.
With a target capitalization of US$ 150 million, the Fund will provide growth capital and capacity building to inclusive financial institutions such as Small Business Banks (SBBs), microfinance institutions (MFIs), insurance providers, leasing companies, housing finance companies and financial technology providers.
Source: AllAfrica.com (link opens in a new window)