Soutien au développement du secteur bancaire en Afrique de l’Est

Soutien au développement du secteur bancaire en Afrique de l’Est

Supporting the banking sector in East Africa

 Some East African countries saw double digit growth in 2008 (26% in Kenya, 21% in Uganda…). Due to dynamic local demand, banks have considerable financing needs which cannot be met in full by local financing.

In 2008 PROPARCO scaled up its support to developing East Africa’s banking sector by providing debt, quasi equity and equity financing.
It consequently supported the development of banks such as I&M in Kenya, BOA (Bank of Africa) in Uganda and Kenya as well as Zanaco in Zambia. With these new operations PROPARCO has raised its total financing to €48M for ten counterparties in the sub-region and has become a major player in financing East Africa’s banking sector.
 
PROPARCO’s financing is subject to specific requirements that aim to promote SME financing and the banks’ integration of social and environmental aspects. This helps ensure the sector develops in a sound manner. PROPARCO has scaled up its presence in three countries where it has traditionally operated – Kenya, Tanzania, Uganda – but also aims to extend operations to neighbouring countries where the banking sector remains relatively underdeveloped and highly dependent on external resources. Several projects have already been identified in Burundi, Sudan and Djibouti.