DARP SA TLG

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The proposed project aims to refinance viable, but financially stressed, mid-market and small and medium enterprises (MMSMEs) in sub-Saharan Africa (SSA) under IFC’s Distressed Assets Recovery Program (DARP). IFC will act as an anchor investor in an investment vehicle with a target size of US$200 million, which will support MMSMEs that have been affected by macroeconomic market dynamics and lack of flexible capital from local banks (the Project, DARP SA TLG). The transaction consists of an IFC equity investment, which is the lesser of up to US$20 million or up to 20% of the total capital committed in a USD-denominated refinancing facility (AGIF II, or the Fund). AGIF II will be managed by TLG Capital Limited (TLG), an alternative investment manager that has developed an innovative product structure to support the development of the largely unattended market in SSA.