Investment Criteria

WilmaFund will invest in enterprises that:

• Are championed or endorsed by community leaders and their organizations
• Are or will be engaged in producing, processing and/or marketing products which use local resources and raw materials, or are providing non-financial services for which there is a significant local, national or regional demand
• Show significant potential for growth through future diversification of products and markets and deepening of the capital base
• Will add value to the local economy by forging vertical and horizontal linkages, expanding sales and generating sustained increases in local earnings and appreciation of equity, which result from infusion of financial resources, business technical assistance, and upgraded managerial skills
• Are receptive to introduction of improved production and processing technologies as well as managerial skills
• Will be attractive to (as suppliers to, licensees of, or co-venturers with) larger domestic enterprises for national or export sales
• Show significant potential for replication of the business model in other areas of the host country or region
• Demonstrate clear benefits for the hosting CDA(s) in terms of: (1) generating finance for community projects and revolving credit funds serving members' micro-enterprises, (2) building knowledge and skills and thereby creating employment opportunities, and (3) creating opportunity for owning assets including shares in the enterprises
• Make significant contribution to diversification of the WilmaFund portfolio and reduction of investor risk

"Selling through" of local products and services to high-income markets will be an important enterprise investment objective of WilmaFund. Consequently, when seeking business linkages for partnership or for sale of enterprise equity, WilmaFund will look at non-African businesses as well as larger domestic enterprises.

WilmaFund will NOT participate in financing activities that:

• Are primarily engaged in wholesale or retail trade of goods and commodities with no value added in country
• Are primarily engaged in real estate or entertainment
• Are primarily engaged in the financial services industry (insurance, banking)
• Are engaged in the sale of illicit drugs, prostitution, or other illegal activities
• Are engaged in unfair practices, such as discriminatory wages, unhealthy work conditions, or bribery
• Are known to pollute water or air resources through uncontrolled discharges

Additionally, WilmaFund will not invest in activities that are normally capitalized by governments (infrastructure), public corporations (telecommunication systems and utilities), or research and policy work not directly linked to commercial gain.