Summary
IFC plans to invest up to $52 million in a microfinance group operating in Kenya, Uganda and Tanzania.
WORLD BANK: THE International Finance Corporation (IFC), the World Bank’s private sector arm, plans to commit up to $52 million to expand small business lending in Kenya, Uganda and Tanzania.
The investment will be channeled through Platcorp Holdings, a Mauritius-based microfinance investment management company with subsidiaries in the three countries.
IFC’s board is expected to consider the project on March 27.
Of the total amount, $27 million would come from IFC’s own account. The institution also intends to mobilize up to $25 million from partner investors through parallel loans and B-loans.
According to project documents, the financing will take the form of four-year senior loans to five Platcorp subsidiaries.
The indicative allocation includes $20 million for two subsidiaries in Kenya, $5 million for two in Uganda, and $2 million for one in Tanzania.
The funding is expected to expand medium-term lending in local currency to micro, small and medium-sized enterprises in markets where access to affordable long-term credit remains limited.
Platcorp’s micro-insurance and vehicle tracking activities are not part of this operation.
Project documents state that 50 percent of the loans supported under the program are expected to benefit women-owned businesses.
The aim is to address persistent gaps in access to credit, as female entrepreneurs often face stricter collateral requirements and limited financial networks. The financing will primarily target businesses operating in rural and peri-urban areas.
Platcorp Holdings reports more than $358 million in assets under management and serves over one million clients through a network of 568 branches.
