MICROCAPITAL BRIEF: New Urban Finance Facility for Africa Invests $100m in Housing Microfinance in Africa, Middle East

The New Urban Finance Facility for Africa (NUF), an impact investing facility that supports housing microfinance, is investing USD 100 million to fund microfinance housing schemes in Africa and the Middle East, with initial investments going to Ghana, Kenya, Tanzania, Uganda and the West Bank. Eighty-five percent of the fund is budgeted to provide direct investment to local commercial banks and microfinance institutions while the rest will be invested into a credit enhancement program for housing microfinance that is affiliated with the International Finance Corporation, the private-investment arm of the World Bank Group.

NUF is being developed by NewLine Capital Partners, a New York-based limited liability company. Further details on NUF and financial data for NewLine are unavailable.

By Lena Phillips, Research Associate

About The New Urban Finance Facility for Africa (NUF)

NUF is an impact investing facility that supports housing microfinance, primarily in Africa. It is managed by New York-based limited liability company, NewLine Capital Partners. NUF is seeking to raise USD 100 million as of 2013.

About the International Finance Corporation (IFC)

A member of the US-based World Bank Group, the International Finance Corporation (IFC) offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2012, IFC reported total assets of USD 75.7 billion.

Sources and Additional Resources:

The-Star.co.ke Article, “New housing microfinance fund to invest in Kenya,” by James Waithaka, http://www.the-star.co.ke/news/article-107296/new-housing-microfinance-fund-invest-kenya

“New Urban Finance Fund for Africa,” NewLine Advisors LLC: October 2012, http://www.auhf.co.za/wordpress/assets/Day-1pm_S3_Hewson_240_NUFF.pdf

MicroCapital.org Article, 2 January 2013: “MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $5m to La Nacional of the Dominican republic for Housing, Small and Medium-Sized Enterprise (SME) Lending,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-loans-5m-to-la-nacional-of-the-dominican-republic-for-housing-small-and-medium-sized-enterprise-sme-lending/#more-21852

MicroCapital.org Article, 23 July 2012: “MICROCAPITAL BRIEF: Rafiki Deposit Taking Microfinance of Kenya Launches Home Mortgages,” https://www.microcapital.org/microcapital-brief-rafiki-deposit-taking-microfinance-of-kenya-launches-home-mortgages/#more-19632

MicroCapital Universe Profile: The New Urban Finance Facility for Africa (NUF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=The+New+Urban+Finance+Facility+for+Africa+%28NUF%29

MicroCapital Universe Profile: International Finance Corporation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29

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