Production 2024

Hydrobox Infrastructures SEZ - $7 million debt

Hydrobox is a mini-grid developer focused on developing small run-of river hydro mini-grids in Kenya under the Anchor, Business & Household Customer (“ABC”) model. Under this model, around 70% of the electricity generation is sold to rural C&I (commercial and industrial) clients, and the remainder to small rural companies and households. FMO’s loan is financing the construction of eight hydro power plants forming five mini grids totaling 2.3MW.

Camco REPP 2 - $10 million debt

Camco REPP 2 is a newly created, 20-year, fund providing debt and hybrid instruments to renewable energy projects and companies in Sub-Saharan Africa, focusing on least developed countries (LDCs). FMO provided USD 30 mln of senior unsecured debt for the first close: the equivalent of USD 10 mln in an unhedged local currency tranche from AEF, plus USD 20 mln from FMO’s own balance sheet.
The first-close fund size is around USD 100 mln and the final target fund size will be USD 250 mln. Camco is investing the funding into different projects and companies in the renewable energy sector, including smaller Independent Power Producers, mini-grids, isolated grids and energy access companies.

Connekt 4 SAS - €0.12 million - Ventures Program 2

Hub2 is a finech company that provides mobile wallet accessibility and payment services in Francophone Africa. Hub2’s solution contributes to the payment landscape in Africa, thereby promoting financial inclusion and stimulating economic growth. Hub2 will be able to benefit from being introduced to FMO’s network of (micro)finance institutions and FinTechs across Africa as well as to potential future investors.

EA Foods Limited - $0.13 million - Ventures Program 2

EA Foods Limited (“East Africa Foods”, "EAF") is a food logistics and distribution company in Tanzania, leveraging technology to optimize the fresh fruit and vegetable supply chain. EAF sources produce from over 8,800 smallholder farmers and supplies primarily to informal retailers, shops, restaurants, and supermarkets in larger cities. The Company is developing an integrated platform that optimizes the supply chain for selected crops that are both high in demand and domestically grown, thus improving quality and reducing food waste. The investment proceeds will support the Company’s growth needs, helping to fund its operations and capital investments in logistics infrastructure and software development.

Tagaddod B.V. - $0.07 million - Ventures Program 2

Tagaddod B.V. is an Egyptian start-up that collects and filters used cooking oil from restaurants, households, and factories through a fully digitized process and supplies it to global sustainable fuel producers. The investment will enable the Company to further expand their digitized sourcing process for Used Cooking Oil and other Waste Oils. Ultimately, this will support reducing and recycling waste products for a more sustainable fuel production, whilst providing additional revenue for restaurants, households and aggregators.

TechCoop Investment & Technology PTE. LTD. - $0.29 million - Ventures Program 2

TechCoop Investment & Technology Pte. Ltd. is a technology-enabled agricultural B2B platform in Vietnam that aims to digitize transactions, bridge the working capital gap, and connect and provide access to the market across the agricultural supply chain. TechCoop provides integrated trade, digital trade credit, and advisory solutions to Vietnam's agricultural small- and medium-sized enterprises (SMEs) and farmer cooperatives across export-driven supply chains. The investment proceeds will be used to support the Company’s growth, helping fund the scaling of its operations and further software and product development for the cross-border digital platform, enabling the successful export of agricultural SMEs and farmer cooperatives.