The operation consists of a USD 35 million loan and a EURIZ portfolio guarantee of NGN 5 billion (EUR 10 million equivalent) to support First City Monument Bank Ltd (FCMB) strategy to serve high-impact SMEs and for climate finance. Proparco and FCMB have already had the opportunity to collaborate through two FMO-arranged operations in 2014 and 2019 and the provision of two ARIZ guarantees signed in 2018 and 2020.

TLcom Capital has been supported by Proparco since 2017 and is financing the development of about a dozen African start-ups. Its targets: high-potential nuggets whose technology is based on mobile phones and digital applications. Andreata Muforo, a partner at TLcom Capital, tells us more.