REGMIFA is pleased to announce that OeEB, the Development Bank of Austria, has affirmed its commitment to invest USD 10 million into B-shares. The partnership dates back to 2010 and represents the fourth commitment in B Shares by OeEB in REGMIFA. The investments will support the portfolio expansion of the Fund within Sub-Saharan African countries through financing loans to micro, small, and medium businesses and low- and middle-income households via selected financial institutions.
The Fund targets different financial entities ranging from small microfinance institutions, including Fintech companies and mid-size banks financing small and medium enterprises. The funds help finance education, agriculture, and clean energy, besides microfinance and SME banking. For the Fund, it is key that loan recipients have adequate Environmental & Social risk management practices.
Laure Wessemius-Chibrac, Chairwoman of the REGMIFA Board: “Investing in Africa’s future means empowering small and medium enterprises and uplifting low-income households. REGMIFA ensures financial support where it’s needed most, fostering growth, innovation, and sustainable development across the continent.”
Sabine Gaber, Member of OeEB’s Executive Board: “OeEB and REGMIFA have been partners for 14 years and we are happy to continue this successful cooperation. REGMIFA is a perfect match with our goal to increase financial inclusion of MSMEs in order to foster development, create jobs and combat poverty in Sub-Saharan Africa – one of our core strategic focus areas.”
For REGMIFA, this endorsement signifies a testament to the enduring partnership and arrives at a pivotal juncture for the Fund, facilitating sustained assistance to investees amidst liquidity and risk challenges in the region.
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About Regmifa
The REGMIFA Fund was launched in 2010. It is a blended finance fund which has attracted both public and private investors, looking to promote impact with a risk-adjusted return. Since inception, the REGMIFA Fund has originated USD 670 million of investments in Sub-Saharan Africa and impacted over 2 million micro entrepreneurs. A dedicated Technical Assistance Facility runs parallel to the Fund, providing tailor-made technical and institution-building support for REGMIFA’s partner institutions. regmifa.com
About Symbiotics Asset Management
Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Symbiotics Asset Management has USD 2.8 billion in assets under management spread across 21 different funds and mandates. symbioticsgroup.com
About OeEB
OeEB has been operating as the Development Bank of Austria since March 2008. It specialises in the provision of long-term finance for the implementation of private sector projects in developing countries which create sustainable development. Additionally, OeEB provides technical assistance, which can be used to enhance the developmental impact of projects. oe-eb.at
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For more information contact:
Roberta Maurutto, Corporate Communication Specialist, Symbiotics
roberta.maurutto@symbioticsgroup.com
Verena Kastner, Corporate Communications, OeEb
verena.kastner@oe-eb.at
