The project concerns a line of credit (LOC) of USD 15 million for a 7-year period (including a 2-year grace period) to Rawbank to finance businesses and small- and medium-sized enterprises (SMEs) operating in sectors in line with the Bank’s strategic directions such as infrastructure, transport, hotels, services, distribution and commerce. Rawbank is a banking establishment created in 2002 and owned by the Rawji family (established in Congo since 1922) through RawHolding, the group’s holding based on Mauritius Island. This project will be implemented in partnership with BADEA which, for its part, will extend an LOC with the same characteristics as the one offered by AfDB. It will be negotiated with Rawbank that a minimum percentage of 30% of the LOC be allocated to SME financing (this minimum amount of USD 4.5 million will be under the Africa SME Programme). The project should provide Rawbank with an opportunity to benefit from a technical assistance grant (in the amount of 200 000 to 300 000 USD) to provide support to local SMEs (out of which 50% women) through training, information and coaching. This programme is a continuation of the different Rawbank initiatives such as the Business Edge modules and the SME Tool Kit portal intended for SME training as well as the “Lady’s First” programme exclusively dedicated to women entrepreneurs, which provided to about 3000 women with financial services and trained 600 of them.

Democratic Congo

African Development Bank Group

Africa Sub-Saharan Africa

Construction Energy-Power and Electrical Computer Hardwares and Consumables

06.03.2018

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