Supported in 2010 when it was created by FMO, the Regmifa fund, domiciled in Luxembourg, but focused on African SMEs, has received additional $10 million financial support from the Dutch development bank (FMO).
Regmifa will select more than 50 financial institutions to which it will provide long-term financing as well as subordinated loans which will then be on-lent to low-income households, as well as to African small and medium-sized enterprises (SMEs).
“The investment provided by FMO underlines the confidence placed in Regmifa. It will go a long way in supporting small and medium-sized enterprises […] Regmifa is a unique blended finance structure that combines the provision of debt finance and technical assistance,” said Laure Wessemius-Chibrac, its president.
The FMO involved in this operation is a long-standing financial partner of Regmifa. The Dutch institution supported this vehicle, managed by Swiss asset manager Symbiotics SA, when it was launched in 2010.
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The recent financial contribution will bring the total assets held by Regmifa to more than $160 million. It operates in some twenty hard-to-reach countries in sub-Saharan Africa, and says it has generated nearly $ 440 million since its creation, intended for investments in sub-Saharan Africa.
Regmifa fund Africa Regmifa fund Africa
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer