AfDB to acquire a stake in Yeelen Financial Fund

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AfDBThe African Development Bank (AfDB) is entering the capital of Yeelen Financial Fund, an investment fund designed for the financial sector, with 12 million EUR (13.3 million USD).

Yeelen Financial Fund targets a total capitalisation of 65 million EUR (72.2 million USD) in order to invest in the financial institutions* of the West African Economic and Monetary Union (WAEMU) countries. The fund's objective is to encourage banks and insurance companies to develop innovative products and meet the new minimum share capital requirements.

*Banks, microfinance institutions (MFIs), financial technology companies (Fintechs), insurance companies.

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Thu, 19/03/2020 - 12:51
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