IFC Africa Leasing Facility
Launched in 2008, the IFC Africa Leasing Facility is a five-year, multi-country advisory services program aimed at introducing leasing as an innovative financial instrument across Sub-Saharan Africa. The facility’s goal is to increase access to finance for micro, small and medium enterprises (SMEs) in a number of important sectors, including agriculture, transportation, construction, and manufacturing. Leasing delivers strong developmental impact in Africa by playing a critical role helping SMEs access finance, and promoting financial sector development.
The Facility builds upon IFC’s 35 years of global experience in leasing advisory and investment activities.
The main objectives of the facility are:
- Enhancing the legal, tax, regulatory and accounting environment for leasing
- Raising awareness about leasing
- Building capacity of lessees, lessors and regulators
- Mobilizing investment capital
- Strengthening and creating local and regional leasing associations
The African Leasing Facility, run from Senegal, is being implemented by IFC Advisory Services in Africa and is funded through IFC’s Private Enterprise Partnership for Africa (PEP Africa) in partnership with the African Development Bank, Denmark, Ireland, Japan, Luxemburg, The Netherlands, Norway and Switzerland.
The facility is currently managing programs in 14 countries: Burkina Faso, Cameroon, Cape Verde, Democratic Republic of Congo, Ethiopia, Ghana, Liberia, Madagascar, Mali, Mauritania, Rwanda, Senegal, Sierra Leone and Tanzania.