Swiss Investment Fund
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PEAMEF

Progression Eastern African Microfinance Equity Fund (PEAMEF) is a USD 40m private equity fund that invests in microfinance institutions providing financial services to low and middle income clients in East Africa. The Fund will invest USD 2-5m in businesses whose core activity is to provide access to credit and savings to traditionally unbanked people.

PEAMEF

Progression Eastern African Microfinance Equity Fund (PEAMEF) is a USD 40m private equity fund that invests in microfinance institutions providing financial services to low and middle income clients in East Africa. The Fund will invest USD 2-5m in businesses whose core activity is to provide access to credit and savings to traditionally unbanked people.

About the fund

Progression may also invest in institutions that enable or form a critical link in the provision of financial services to the underserved. Local presence and networks, as well as sector-specific expertise and operating experience are important features of Progression. 
PEAMEF is managed by Progression Capital Africa Ltd., a first-time team with a strong ability to add value to local microfinance institutions.
SIFEM’s investment in Progression will support an underserved sector that is important for economic development and is considered as being pro-poor, and will endorse a first-time team.

Investments by the fund

             
Date Name Country Industry Status
2014 Company 1 Kenya Other financial services Active
2016 Company 2 Zimbabwe Non-banking microfinance Active
2013 Company 3 Uganda Banking Active
2015 Company 4 Rwanda Banking Active
Reference code
2012-05
Status
Active
Date of commmitment
December 2012
Date of exit
-
Fund size
USD
40,000,000
SIFEM commitment
USD
4,000,000
Asset class
Equity
Investment strategy
Investment through Fund
Fund manager
Progression Capital Africa