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AfDB to acquire a stake in Yeelen Financial Fund

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Magazine Issue: 
FANAF: The delicate use of dialogue [3]
Magazine date: 
Mar 2020

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.

Read also | Africa insurance industry [4]

Thu, 19/03/2020 - 12:51

Source URL: https://www.atlas-mag.net/en/article/afdb-to-acquire-a-stake-in-yeelen-financial-fund

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[3] https://www.atlas-mag.net/en/issue/fanaf-the-art-of-dialogue
[4] https://www.atlas-mag.net/en/article/insurance-market-in-africa-ranking-2018-of-countries-by-turnover