CONTACTS PROPARCO Regional offices
OUR FINANCIAL OFFER
ASIA
SENIOR DEBT & QUASI EQUITY
• €10M to €100M • Use of funds: SME, clean energy, agribusiness, social sectors • Currency: €, $, local currency • Maturity: up to 12 years • Interest rate: fixed or floating • Compliance with AML/FT and E&S best practices
EQUITY
• €5M to €25M (€1M minimum for early stage fintech) • 5% to 20% shareholding • 5 to 7-year investment horizon • Clearly defined exit strategy, with customary minority stake and minority rights’ provisions • Board representation on a case by case basis
GUARANTEES & TAILOR-MADE SOLUTIONS
• Trade finance for Africa • Risk sharing with banks (SME portfolios or microfinance institutions) • Risk sharing with investors (e.g. guaranteed mutual fund)
NORTH & SOUTHEAST ASIA BANGKOK Exchange Tower, Unit 3501-02, 35th floor 388 Sukhumvit Road, Klongtoey Bangkok 10110, Thailand afdbangkok@afd.fr BEIJING Proparco – French Development Agency Group (China Office) chenj@afd.fr SOUTH ASIA DELHI 19 A Rajdoot Marg, Chanakya Puri New Delhi – 11021, India afdnewdelhi@afd.fr AFRICA WEST AFRICA ABIDJAN Boulevard François Mitterrand 01 BP 1814 Abidjan, Côte d’Ivoire proparcoabidjan@proparco.fr
OUR VALUE-ADDED PROPOSAL
AN EXPERIENCED PARTNER, PART OF THE AFD GROUP
• Proparco’s parent company, AFD, executes the French Government’s development aid policies in its 85 countries of presence. Proparco’s involvement in a transaction can play a catalytic role for other investors. • Proparco is a AA rated financial institution by S&P. Our total assets exceed € 5.2bn, with equity of over €900M.
A DEEP KNOWLEDGE OF THE FINANCIAL SECTOR
• With more than 175 financial institutions currently financed, our global network of partner institutions enables us to bring knowledge and expertise. • Our parent company, AFD, maintains a regular dialogue with financial regulators.
TECHNICAL SUPPORT
• Proparco offers technical support to its clients in addition to its financial offer. • These services aim to support the implementation of an ESMS*, the launch of innovative products and services, or capacity building for financial and risk management. • Proparco can finance up to 50% of the project budget. * environmental and social management system
CENTRAL AFRICA DOUALA 96, rue Flatters Immeuble Flatters, 2e étage, suite 201 BP 2283 Douala, Cameroun proparcodouala@proparco.fr
PROPARCO Headquarters
SOUTHERN AFRICA & INDIAN OCEAN JOHANNESBURG Ballywoods Office Park, Ironwood House, 1st floor 29 Ballyclare Drive, Bryanston P.O. Box 130067, Bryanston 2021 South Africa proparcojohannesbourg@ afd.fr
LATIN AMERICA & THE CARIBBEAN
NIGERIA LAGOS C/o Consulate General of France 1, Oyinkan Abayomi Drive Ikoyi, Lagos, Nigeria afdlagos@afd.fr
SANTO DOMINGO Av. Gustavo Mejía Ricart esq. Av. Abraham Lincoln, Torre Corporativo 2010, 2do piso, Local 201, Piantini, Santo Domingo viciniv@afd.fr
EAST AFRICA NAIROBI Top Plaza, 4th floor Kindaruma Road, Off Ngong Road P.O. BOX 45955 00100 Nairobi, Kenya afdnairobi@afd.fr
SOUTH AMERICA SÃO PAULO Edificio Çiragan Office Alameda Ministro Rocha de Azevedo, 38 11° andar, conjunto 1103 01410-000, São Paulo, SP, Brasil afdsaopaulo@afd.fr
NORTH AFRICA CASABLANCA 15, avenue Mers-Sultan 20130 Casablanca, Maroc afdcasablanca@afd.fr MIDDLE EAST
CENTRAL AMERICA & THE CARIBBEAN MEXICO Torre Omega, piso 5, Campos Eliseos n°345, Col. Chapultepec Polanco, 11560 México D.F., México afdmexico@afd.fr
BOGOTA Sao Paulo’s office Av. Calle 82 # 10-33 Of. 302 110221 Bogota, DC Colombia jarroussea@proparco.fr
FINANCIAL INCLUSION
€760M COMMITTED TO SMEs
in developing and emerging countries*
50+
PARTNER MICROFINANCE INSTITUTIONS
Each year, Proparco commits 40% of its total financing in favour of financial institutions who play a key role in fostering sustainable economic growth. Proparco is among the most active Development Financial Institutions in the financial sector.
PARIS 151 Rue Saint-Honoré 75001 Paris, France GUILLAUME BARBEROUSSE Head of Financial Institutions Debt Group barberousseg@proparco.fr
FOR TEN YEARS
* amount committed since 2010
EMMANUEL HAYE Deputy-head, Africa/Middle-East hayee@proparco.fr
SERVING 175+ FINANCIAL INSTITUTIONS IN 70 COUNTRIES
GONZAGUE MONREAL Deputy-head, Latin America/Asia monrealg@proparco.fr
Asia
€370M
Total portfolio 31/12/2017
TECHNICAL SUPPORT FOR NEW PRODUCTS AND BETTER STANDARDS
40
STEPHANE FROISSARDEY Deputy-head, Innovation/Financial inclusion froissardeys@proparco.fr
PARTNERING WITH FINANCIAL INSTITUTIONS FOR IMPACT
——— JOHANN CHOUX Head of Equity Investments Financial Institutions & Innovation chouxj@proparco.fr
TURKEY & MIDDLE EAST, CENTRAL ASIA, CAUCASIA, SOUTHEAST EUROPE ISTANBUL Büyükdere Cad. Yapi Kredi Plaza C Blok, Levent, Istanbul afdistanbul@afd.fr
Multicountries
Latin America
€520M
AfricaMiddle East
€160M
€1710M
banks and FI partners supported to deliver on greater impact: enhanced environmental & social management systems, new products or services for their clients.
SUPPORTING SUSTAINABLE DEVELOPMENT
FINANCING THROUGH EQUITY INVESTMENTS
INNOVATING FOR IMPACT
50%
€160 MILLION
to innovative solutions, supports
committed to 28 financial institutions since 2010
products in order to address
of our credit facilities are
dedicated to GREEN INVESTMENTS AND SOCIAL SECTORS
€80 MILLION
Proparco, with a team dedicated institutions offering services or market failures and underserved client segments.
invested in private equity funds dedicated to the financial sector
PROPARCO a subsidiary of the Agence Française de Développement (AFD) dedicated to the private sector supporting sustainable development for 40 years. #BusinessInCommon www.proparco.fr FOLLOW US:
Conception/redaction: Proparco - September 2018
OUR PRODUCT OFFER
€4 BILLION COMMITTED IN THE LAST 7 YEARS FOR FINANCIAL SERVICES
ENERGY
MOBILISING PARTNERS AGRIBUSINESS
SOCIAL SECTORS
Proparco is accredited to channel funds from the EU and the Green Climate Fund. Proparco is part of the European DFI network and cofinances many transactions with other members.
Friendship Facility DEG/FMO/PRO
GREEN
TRANSACTIONS
EQUITY 3 TRANSACTIONS
€826M
3. by strengthening and diversifying the offer of financial services: MICROFINANCE, LEASING, INSURANCE, CAPITAL MARKETS
FINANCING
NEW DELHI South Asia
MULTICOUNTRIES
ABIDJAN West Africa NAIROBI East Africa
LAGOS Nigeria
BOGOTA Colombia
EQUITY €11M
EQUITY €80M
LATIN AMERICA
12 TRANSACTIONS
TRANSACTIONS
SÃO PAULO South America
EQUITY 1 TRANSACTION
JOHANNESBURG Southern africa and Indian Ocean
FOCUS
LEGEND Agriculture and agribusiness
€169M FINANCING
DOUALA Central Africa
54 DEBT 53 TRANSACTIONS
Long term credit facility
Equity
Technical support
Investment funds
Small medium enterprises
Proparco regional Office
Green
Social services
Branch office
The amount of financing is the total committed from 2010 to 2017 in favour of financial institutions.
PROPARCO TAILOR-MADE FINANCING SOLUTIONS
Cameroon • 2016 direct equity €10M
Africa • 1989 direct equity €10M
Brazil • 2012 direct equity €10M
India • 2016 direct equity €6M
Africa • 2014 direct equity €5M
Cambodia • 2014 direct equity €4M
Rwanda • 2012 direct equity €3M
PARTNER
EQUITY 11 TRANSACTIONS
Green investments
22% 45%
15% 8%
10%
CONTEXT
South East Asia • 2017 private equity €9M
Africa • 2010 private equity €10M
Turkey • 2016 debt €100M
Turkey • 2017 debt €13M
Asia/Africa • 2010 private equity €4M
India • 2016 private equity €10M
Multi-countries • 2015 private equity €10M
BANPRO —
Asia/Africa • 2017 private equity €17M
NICARAGUA
Leading bank in Nicaragua, part of the Promerica Group with a presence in 9 countries in Central America. In need of capital to sustainably grow its SME portfolio.
Panama • 2016 debt €37M
China • 2015 debt €24M
Bangladesh • 2016 debt €28M
Morocco • 2017 green bond €35M
LATIN AMERICA AGRIBUSINESS LAAD
Honduras • 2015 debt €37M
PROPARCO’S ANSWER Tier 2 arranged by Proparco USD 20M Signed in 2017 Tenor: 10 years with a 5 year grace period
—
Turkey • 2015 debt €15M
Turkey • 2016 debt €30M
Rwanda • 2017 debt €14M
Madagascar • 2015 debt €5M
Nicaragua • 2016 debt €9M
Egypt • 2015 debt €12M
Ivory Coast • 2017 debt €25M
Tunisia • 2016 debt €8M LCY
Cameroon • 2017 debt €3M LCY
Mali • 2017 debt €5M LCY
Haiti • 2013 debt €3M LCY
Cambodia • 2016 debt €6M LCY
Pakistan • 2017 debt €4M
Georgia • 2017 debt €6M
Tunisia • 2015 debt €10M
South Africa • 2016 debt €27M
Africa • 2017 debt €21M
Salvador • 2016 debt €14M
Costa Rica • 2017 debt €12M
Costa Rica • 2017 debt €18M
ADVANS CI — IVORY COAST (FISEA)
FRONT CLEAR — AFRICA AND LATIN AMERICA
Private investment and development company, targeting SMEs in the agribusiness sector, founded in 1969, with a presence in 17 countries. In need of long term financing to grow its portfolio.
2 long term credit facilities, total USD 35M
Microfinance institution, established in 2012, part of Advans group, working to provide financial solutions for SMEs in Ivory Coast. Willing to grow its portfolio and to develop new financing tools for small farmers of the cocoa sector.
Equity stake and technical support to design a new product for the cocoa sector
Financial markets development company focused on catalysing stable and inclusive financial markets in emerging and developing countries. Frontclear facilitates access to interbank markets for local financial institutions. Greenfield project.
Proparco invested in 2 tranches: subordinated and senior debt for a total of USD 28M in 2015
SMEs Agriculture Equity, quasi, risk sharing Other investments
BCP —
One of the largest Moroccan banks, with a strong footprint in Africa. Willing to promote green investments and looking to refinance is green portfolio.
Subscription alongside IFC in the first green bond issued in Morocco (€ 135M, of which 35M for Proparco)
Kazakhstan • 2017 debt €8M
MOROCCO
Ecobank group is a pan-African bank, with operations in 36 countries. Wanted to develop trade flows for essential goods with 4 countries in West Africa.
Trade Finance Guarantee Programme for USD 50M, with 4 issuing banks in West Africa, signed in 2017
Incofin, an impact-focused fund manager, already supporting rural microfinance development, was looking to expand its activities to agriculture.
USD 12M commitment at the first closing of AGRIF
Strong Kenyan player willing to expand its activities in East Africa, targeting in Rwanda.
Proparco partnered with I&M Group in its acquisition, taking a 12.5% equity stake
DEBT 1 TRANSACTION
PROPARCO’S INVESTMENT PROCESS IS TAILORED TO THE SPECIFICITIES OF EACH TRANSACTION STRUCTURE
Risk sharing
Microfinance institution
Sri lanka • 2015 debt €46M
DEBT €89M
SME
DEBT €815M
MICROFINANCE INSTITUTION
SANTO-DOMINGO Dominican Republic – Haiti
BUSINESS DEVELOPMENT, E&S MANAGEMENT, AML COMPLIANCE, GOVERNANCE
Paraguay • 2017 debt €29M
LATIN AMERICA
BANGKOK North and Southeastern Asia
MEXICO Central America and the Caribbean
Latin America • 2015 debt €15M
TRANSACTIONS
BEIJING China
on critical matters through capacity building:
Peru • 2014 debt €15M
EQUITY 3 TRANSACTIONS
STRENGTHENING CLIENT EXPERTISE
PROMOTING ACCESS TO FINANCE
36
CASABLANCA North Africa
EQUITY 22 TRANSACTIONS
Mexico • 2013 debt €10M
n average, it takes 4 to 8 weeks between agreement in O principle on the terms of the transaction and final approval of the investment. most cases it includes a 3 to 4 day on-site due diligence In visit, and can be followed-up by an external financial/legal/tax due diligence for some equity transactions.
Ghana • 2012 and 2016 debt €8M
Mexico • 2014 debt €5M
Zimbabwe • 2014 debt €7M
Building stable & inclusive interbank market Africa • 2015 junior and senior notes €23M
Boosting financial markets Africa • 2016 Guarantee €10M
Trade finance Program Africa • 2017 Guarantee €45M
Training for SMEs Tunisia • 2017 Technical support €75,000
9 banks in Bangladesh trained on E&S management system • 2017 Technical support €15,000
Training on gender for credit officers Tunisia • 2016 Technical support €150,000
New cocoa loan scheme Ivory Coast • 2013 Technical support €100,000
better practises for credit management Haiti • 2016 Technical support €21,000
Cambodia microfinance association: best practises to avoid overindebtness Asia • 2016 Technical support €21,000
LeapfrogLabs (Fisea): Technical support to 7 investees Asia/Africa • 2016 Technical support €250,000
date = date of signing ; all amounts converted in euros, rounded to the nearest million
2.
DEBT 19 TRANSACTIONS
143 TRANSACTIONS
DEBT 33 TRANSACTIONS
22
PARIS Proparco Headquarters
FINANCING
DEBT 121 TRANSACTIONS
ASIA
EQUITY €19M
FINANCING
EQUITY €0.114M
FINANCING
LONG TERM CREDIT FACILITY
€2,210M
SMES, ENERGY, SOCIAL SECTORS, AGRIBUSINESSES
€482M
EQUITY €15M
INVESTMENT FUNDS
€416M
DEBT €2,096M
Georgia • 2017 debt €8M
DEBT €467M
DEBT €397M
AFRICA
Armenia • 2016 debt €18M
countries
MIDDLE EAST EAST EUROPE CENTRAL ASIA
ISTANBUL Turkey and the Middle East Central Asia - Caucasus Southeastern Europe
providing resources to financial institutions to finance sustainable economic growth:
new transactions per year
EQUITY
partner financial institutions
70
SOCIAL SERVICES
FINANCING THE SUSTAINABLE GROWTH OF THE ECONOMY
30 to 40
AGRICULTURE AGRIBUSINESS
175+
BANKS INSURANCE COMPANIES MICROFINANCE INSTITUTIONS NON-BANK FINANCIAL INSTITUTIONS PRIVATE EQUITY FUNDS FINTECH
RISK SHARING
1.
PARTNERING WITH
TECHNICAL SUPPORT
Our priorities
ECOBANK — AFRICA
AGRICULTURAL RURAL IMPULSE FUND (AGRIF) — AFRICA, LATIN AMERICA AND ASIA
I&M —
RWANDA