DFP EICF Enko

pending

IFC's proposed equity investment in Enko Impact Credit Fund (EICF or the Fund) will be up to the lower of US$25 million or 20% of total Limited Partner (LP) commitment to the Fund. EICF will be established by Enko Capital (the Fund Manager or Enko), an Africa-focused asset management firm managing debt and equity investments across the continent. The Fund has a target LP commitment size of US$150 million, targeting US$80 million at first close, expected to take place in Q3 2025. The Fund's objective is to invest in a diversified portfolio of USD denominated senior secured and unsecured debt to mid-sized corporates in sub-Saharan Africa, excluding South Africa.The Fund will seek to invest in SDG-aligned, ESG focused and gender-oriented businesses, while generating commercial returns and utilizing guarantees, insurance wraps and collateral to hedge downside credit risks. EICF will target gross USD returns in the range of 14-16%, comprising cash coupons of 9-11%, with the remaining returns expected from embedded upside structures.The project is being processed under IFC's Debt Funds Project (DFP) Investment Framework.