Belgium Investment Company opens regional office in Nairobi

The Belgium Investment Company for developing countries (BIO) has launched an East African office to bring its services closer to its targeted clients within the region.

The development finance institution, whose priority investment sectors are agriculture, renewable energies, and financial services, will provide several intervention tools, including long-term loans, equity investments, and technical assistance to the clients.

The regional office will facilitate provision of sustainable investments in private companies in Kenya, Uganda, Tanzania, and Rwanda, as well as Ethiopia, Zambia, Malawi and Mozambique. 

“The office is strategically positioned in Nairobi, the Kenyan capital city which has long been regarded as East Africa’s economic hub. It also benefits from being close to some partner countries of the Belgian Development Cooperation, that is Uganda, Tanzania and Rwanda,” said Ms Carole Maman, Chief Investment Officer at BIO. 

Investment opportunities

Carole was speaking during the launch ceremony, which was held at the Residence of the Belgian Ambassador on Wednesday. The event was graced by the Belgian Ambassador to Kenya, H.E. Mr Peter Maddens, Belgium Investment Company officials, venture capital firm managers, business owners, government officials, among other dignitaries.

“The local office is expected to make it easier for BIO to assess and identify new investment opportunities. This will by extension facilitate the growth of the company,” said Ms Maman.

Meanwhile, BIO regional office head Alexis Losseau, said that the office will also play a big part in strengthening the relationships with the European Union, the Belgian Development Cooperation and the Belgian Embassy.

Supporting SMEs

“Having a presence in Eastern Africa is key to increase our impact and footprint in the region. It shows BIO’s commitment to support private sector development in the sub-region, and it provides BIO with better market intelligence, which will ultimately improve our sourcing capacity to find new investment opportunities,” said Mr Losseau. 

Currently, BIO has over 146 customers spread across Africa, Asia and Latin America, with 40 per cent of its client base being in Sub-Saharan Africa and 62 per cent of its investments are in the form of debt, while 38 per cent are equity investments.

A majority of its investment, 49 per cent, is in the finance sector, followed by infrastructure (41 per cent), private equity (6 per cent) and SME sectors (4 per cent).

The Nairobi office will focus on strengthening BIO's portfolio in the region, and will additionally focus heavily in supporting small and medium sized enterprises, whose growth continues to be impeded due to a lack of access to credit.