With $1 billion in investments, Proparco marks 15 years in Nigeria
Proparco provides loans, equity, guarantees, and technical assistance aimed at strengthening its customers' financial capacity or bearing part of their risk.
Proparco, a French development finance institution, has marked 15 years of operations in Nigeria with a total of $1 billion invested in the country over the period.
Since its inception in Nigeria in 2008, Proparco said it has focused its efforts on partnering with local and Pan-African financial institutions, investment funds, growth stage companies as well as startups within the renewable energy, agribusiness, and tech space.
Proparco provides loans, equity, guarantees, and technical assistance aimed at strengthening its customers' financial capacity or bearing part of their risk. The bulk of its commitments are intermediated via Nigerian banks and investment funds, which finance SMEs and start-ups in key development sectors such as agriculture, healthcare, education, energy, and financial services.
“Africa holds the answers to many of the major challenges of the 21st century and unlocking its entrepreneurial dynamism is at the core of our strategy for the next five years,” said Proparco’s CEO Françoise Lombard during her visit to Nigeria.
Nigerian financial institutions and investment platforms that have attracted financing from Proparco include FCMB, Coronation Merchant Bank, Ventures Platform, and UBA.
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