AFRICAN DEVELOPMENT PARTNERS III MAStatus: Approved investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Development Partners International (“DPI”) was established in 2007 and is a leading pan-African private equity firm. FMO has invested in its first private equity fund: African Development Partners I (“ADP I”). DPI now manages USD 1.1bn in AUM and has invested in 20 portfolio companies across its two funds, ADP I, and its successor fund, African Development Partners II (“ADP II). DPI is now raising its third fund: African Development Partners III (“ADP III”).
What is our funding objective?
DPI's strategy is to build a diversified pan-African portfolio of private equity investments in established and growing companies benefiting from Africa's fast-growing, middle class. ADP III is expected to invest USD 40 – USD 120m in 8 – 14 different companies. DPI has more than 35 members of staff, of which 40% are women, and its investment team is 100% African. DPI also has a dedicated Portfolio Management team that works closely with the management’s teams of its investees. ADP III will contribute to the creation of value within its investees and the positive impact they have on their local communities, creating more jobs and increasing government tax revenues as well as broadly fostering regional economic integration.
Why do we fund this investment?
This investment fits FMO’s strategy, deepening a relationship with an existing partner in African private equity investing and contributes further to FMO’s ambition of being a preferred partner for growth in emerging markets.
What is the Environmental and Social categorization rationale?
Based on the risk profile of the pipeline companies, the preliminary E&S categorization is B. DPI has shown a solid commitment towards E&S and has a strong environment and social management system in place. DPI also has an experienced and dedicated ESG manager in its team. DPI undertakes rigorous ESG due diligence during its investment process and creates ESG action plans for its portfolio companies to align them with the IFC Environmental and Social Performance Standards.
- Infrastructure, Manufacturing and Services
- Effective date
- Total FMO financing
- USD 25.00 MLN
- FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)