Exchange-Debt

completed

The Exchange is the development of a mixed-use project in Accra, the capital city of Ghana, being developed by Actis’s Africa Real Estate Fund 2 (AR2) AR2 is a private equity fund managed by Actis Capital LLP (Actis), a private equity fund management company specializing in managing funds that invest in Africa, Asia and Latin America, in a joint venture with local partners.The IFC-financed Project is part of the above-mentioned mixed-use development and will consist of; i) a 200+-room hotel with a conference center and ii) approximately 10,000 m2 of retail space (the Project). The Project will help alleviate the supply gap of high quality office and retail space, as well as residential units and hotel rooms in Ghana.Note – Related project: The above-mentioned development was initially called "Project Sunrise". Later, the name was changed to "The Exchange". IFC first considered The Exchange as an equity co-investment opportunity, and public disclosures reflecting this were made on May 6, 2013 under project #33086. Subsequently, the parties decided that IFC could better support the Project through a long-term loan package described below, which is now disclosed under project #35396. Physically, the project disclosed under #33086 in May 2013 and this project #35396 are the same mixed-use development.