Home Wave Mobile Money Wave Mobile Money In brief To spur financial inclusion and support economic growth in Senegal and Côte d’Ivoire, Finnfund has invested in Wave Mobile Money S.A. (Senegal) and Wave Côte d’Ivoire S.A., mobile money firms that are helping lower prices and expand services in the region. The Project consists of a financing package of EUR 90 million comprised of a EUR 25 million loan from IFC, IFC B Loans of a combined EUR 41 million from Symbiotics, Blue Orchard, responsAbility, and Lendable, as well as parallel loans of EUR 24 million from Finnfund and Norfund. The borrowers will use the financing proceeds to fund their working capital needs, including the pre-financing of agents and bill payments. Main development impact The project will contribute to a larger financial inclusion in countries with some of the lowest global account penetrations. It will give customers access to affordable accounts and payment services and allow them to transact more often due to a simple fee structure and lower transaction costs. The investment will contribute to promoting systemic changes in the mobile money markets in Sub-Saharan Africa by allowing Wave Mobile Money group to continue rapidly scaling up its services, which, in turn, will demonstrate to incumbents the viability of a transparent and cheaper pricing structure, pushing them to lower transaction costs and simplify their fee structure. Investment details Name: Wave Mobile Money Project number: 80000375 Region: Africa Country: Senegal Sector: Digital infrastructure and solutions Signing date (month/year): June 2022 Currency: EUR Finnfund's financing (commitment): 12,000,000 Instrument: Loan Size of the project financing: EUR 90,000,000 Share of Finnfund's financing (%): 13,30 % Status: Active Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.June Read our transparency and disclosure policy More information: Ajankohtaista ja julkaisut Nykyiset investoinnit Toimialat Yhteystiedot Key facts Name: Wave Mobile Money Sector: Digital infrastructure and solutions Region: Africa Country: Senegal Currency: EUR Finnfund's financing (commitment): 12,000,000 Signing date (month/year): June 2022 Last update: September 2022