Enko Capital, an Africa-focused various asset supervisor, has raised $100 million to deal with Africa’s structural credit score hole and assist financial progress, job creation, and sustainable growth.
With $1.3 billion in belongings below administration (AUM), the corporate introduced the primary shut of its impact-focused non-public credit score technique (the Fund), elevating $100 million towards its goal of $150 million at last shut, with a tough cap of $200 million.
Traders within the first shut embrace British Worldwide Funding (BII), the UK’s growth finance establishment; IFC, a member of the World Financial institution Group; SICOM World Fund Restricted, one in all Africa’s main asset managers; a European influence investor; and African pension funds and household places of work.
The Fund gives US dollar-denominated non-public credit score to mid-market corporations throughout Sub-Saharan Africa, specializing in established, cash-generating companies in non-cyclical sectors reminiscent of agriculture, telecommunications, manufacturing, renewable vitality, and monetary companies.
By providing versatile, tailor-made financing to well-managed enterprises typically underserved by conventional lenders, the Fund seeks to deal with the structural credit score hole going through mid-sized African companies and to show the business potential of personal credit score on the continent.
The chief government officer at BII, Leslie Maasdorp, stated, “Our dedication to the Enko Affect Credit score Fund displays BII’s perception within the business potential of personal credit score in Africa and its function in closing the financing hole for mid-sized companies. By anchoring the fund’s first shut, we intention to ship a powerful sign to different buyers, appeal to further capital and assist construct a viable non-public credit score market that helps companies important to financial progress in Africa.”
The managing accomplice of Enko Capital, Alain Nkontchou, acknowledged that “the profitable first shut of Enko’s flagship non-public credit score technique underscores rising investor confidence in Africa’s sustainable growth via non-public credit score. With the assist of main worldwide institutional growth, influence buyers, and native companions, the Fund is strategically positioned to supply customised capital options to high-quality mid-market SMEs, unlocking progress, supporting job creation, and advancing sustainable growth whereas producing compelling risk-adjusted returns for our buyers. “
Nkontchou added, “We’re additionally proud that this marks the primary funding below the partnership between BII and IFC, a collaboration that strengthens our shared dedication to foster impactful, sustainable progress on the continent.”
The vice chairman of Industries at IFC, Mohamed Gouled, stated, “Increasing entry to finance for mid-sized corporations is important to accelerating inclusive progress throughout Africa. IFC’s assist for the Enko Affect Credit score Fund demonstrates IFC’s dedication to channelling longer tenor and versatile funding to African companies for progress and job creation. By way of this partnership, we’ll assist companies throughout varied sectors, from agribusiness to telecom, which are important for sustained financial progress.”
Enko Capital is an Africa-focused asset administration agency managing debt, non-public debt, fairness and personal fairness investments throughout Africa. The agency manages $1.3 billion throughout its methods. Enko affords a deep information of the continent mixed with best-in-class funding experience. Enko seeks to ship sturdy risk-adjusted absolute returns for its buyers.
