This investment from Proparco completes a funding round in which Annapurna raised a total of $100 million. This fundraising will allow Annapurna to grow its loan book, invest in technology, expand geographically and further its vision of enabling financial inclusion at scale.

The project consists in the granting of a USD 10 million envelope to guarantee trade finance instruments issued by Vista Gui, a subsidiary of the Vista banking group, the country's largest bank in terms of the size of its network and the second largest contributor to the financing of the economy. This line of credit, with a maturity of 2 years, is intended to support the financing of the import of basic necessities and capital goods in Guinea.

Proparco, is pleased to announce its partnership with IBL Group, the largest conglomerate of Mauritius (listed on the Mauritius Stock Exchange), and DEG, a subsidiary of German KfW Group, to jointly acquire a 40% interest in Naivas International, which owns 100% of the shares of Naivas Ltd, a leading modern retail chain in Kenya. Successful completion of the transaction is subject to conditions.