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Newsletter n°22 | July 2018
EDITO • Joël Cadier | FOCUS Launch of Comoé Capital | PORTRAIT • Fidèle Aké-Diomandé, Vallesse Éditions | NEWS FROM THE PORTFOLIO | ANALYSIS • Fifteen Years, Fifteen Lessons from Africa • Focus on African diaspora | PRESS REVIEW | AGENDA
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▬▬▬▬▬▬▬▬▬▬▬  EDITO  ▬▬▬▬▬▬▬▬▬▬▬
Chairman of Comoé Capital
Managing Partner of KeysFinance Partners

COMOÉ CAPITAL was launched in March 2018, thanks to the determination of several actors: the Managing Director of the fund Issa Sidibé, involved in the project for over two years; its sponsor and main investor Investisseurs & Partenaires; and all the Ivoirian shareholders, who invested more than 4 billion FCFA in the project. . (...)

Financing these enterprises is indeed a challenge, as I am often reminded at my work at KeysFinance Partners: there are many entrepreneurs we are unable to support because their financing needs are too low. COMOÉ CAPITAL will provide these entrepreneurs with an experienced team and an investment strategy clearly adapted to their specific needs: investment tickets between 20 and 300 million FCFA, a support to structure and formalize the company, and a risk management strategy adapted to investments in early-stage companies.
With this strategy, COMOÉ CAPITAL targets a dense yet too often overlooked segment of companies in Côte d’Ivoire, for which financing is currently almost non-existent. So thanks to COMOÉ CAPITAL and all its partners for taking up the crucial challenge of SME financing, a key driver of development for the Ivoirian economy!

Read Full Edito

▬▬▬▬▬▬▬▬▬▬▬  FOCUS  ▬▬▬▬▬▬▬▬▬▬▬
Comoé Capital: first impact fund dedicated to
Ivoirian startups and small businesses

Comoé Capital gathered its partners and shareholders on March 29 for its official launch. Managed by Issa Sidibé, Comoé Capital aims to provide an innovative financing solution, specifically designed to meet the needs of startups and small businesses with high growth and impact potential in Côte d'Ivoire.

Comoé Capital is the 5th African fund sponsored by Investisseurs & Partenaires as part of its program I&P Development 2. The network currently includes impact funds specialized in SME-financing in Niger (Sinergi Niger), Burkina Faso (Sinergi Burkina), Senegal (Teranga Capital) and Madagascar (Miarakap).

Read More →

▬▬▬▬▬▬▬ WHAT'S NEW AT I&P? ▬▬▬▬▬▬▬

The teams of the impact funds sponsored by IPDEV 2 are growing and count now more than 20 members. Discover them on our website!

The 6th ESG & Impact reporting of the fund IPAE 1 is published. It presents the methodology and the main impacts of he fund.
Read more

For the first time I&P organizes its General Assembly and the Annual Entrepreneurs' training in Africa, from October 15 to 19 in Abidjan.

▬▬▬▬▬▬▬▬▬▬ PORTRAIT ▬▬▬▬▬▬▬▬▬▬

Fidèle Ako-Diomande
Founder and Director of VALLESSE ÉDITIONS
Country: Côte d'Ivoire
Sector: Education


Comoé Capital’s first investment as part of the Education Impact Fund (an initiative supported by the Jacobs Foundation), Vallesse is an Ivoirian publishing house founded in 2005 by Fidèle Diomandé, an entrepreneur committed to youth education in Côte d'Ivoire.
"Any publisher is first and foremost an educational and a development actor. Vallesse Editions is particularly careful to promote books that are relevant and useful to the youth."
Read her interview →

Senegalese company Laiterie du Berger increases the purchase price of milk to its 800 suppliers.
Read more
Enko Education launches two new schools in September 2018, in Mali and in Burkina Faso.
Read More
Africa Radio gets a frequency in Abidjan: the radio programs will be available by the end of 2018
Read More
Neurotech achieved the highest level of distinction of the UN Global Compact for its CSR commitment
Read More
The magazine Réussite (Canal+) broadcaseted a report on the Ghanaian company Eden Tree.
Read More
The director of SENAR, Sylvie Sagbo, was interviewed with Cécile Carlier by the magazine Great Insights.
Read More

▬▬▬▬▬▬▬▬▬▬ ANALYSIS ▬▬▬▬▬▬▬▬▬▬
Publication of the 4th Chapter of "Fifteen Years, Fifteen Lessons from Africa": Investment Lessons

I&P shares in this fourth chapter some achievements and key questions on three topics that matter for investors: the financial arrangements, the management of corporate debt, and the necessity to prepare small businesses for investment with the help of specific programs and of the Entrepreneurial ecosystem.

Lesson n°10: Structuring a deal, but how?
Lesson n°11: Debt is capital's best friend - and vice versa
Lesson n°12: Rely on the entrepreneurial ecosystem to develop business pipelines ready to be financed
Read More
African diaspora: a key factor of development for the continent
According to the recent estimates of the World Bank, remittances to low and middle-income countries rebounded to a record level in 2017 after two consecutive years of decline. The report confirms the good dynamics of remittances to the African continent, with an increase of 11% - despite the fact that Sub-Saharan Africa remains the most expensive place to send money to, with an average cost of 9.4%.

The African Institute for Remittances has estimated the amount reached in 2017 by remittances from the African diaspora to the Continent to $65 billion: An amount that is more than twice the amount of official development assistance for Africa, estimated at 29 billion in 2017

But Money transfers are not the only contribution of the diaspora to the development of the continent, as recalled in an article signed by Jean-Michel Severino, Lionel Zinsou and Elie Nkamgueu. Diaspora members also have a strong impact by creating powerful networks around the world and sometimes deciding to return to their home countries, motivated by professional or entrepreneurial opportunities that allow them to have a positive impact on the continent. This is an opportunity explored by the
Club Efficience, the leading pan-African network in France and Europe, which is working to structure a fund to invest in African SMEs.

▬▬▬▬▬▬▬▬▬ LATEST NEWS ▬▬▬▬▬▬▬▬▬

In the Press

The monthly magazine Mémento, dedicated to news from overseas companies and the Indian Ocean, publishes an interview with Mialy Ranaivoson, Investment Manager based in Madagascar. Read the article (in French) →

Jeune Afrique publishes a new article by J.-M. Severino, on the topicof public debt. Discover the article (in French) →


►Accra, August 9: B. Otu-Boateng will attend the event organized by ANDE's West Africa Regional Chapter, SGB Finance and Impact Investing Roundtable

►Brussels, September 20-21: EVPA (European Venture Philanthopy Association) organizes a training on social impact measurement and management.

►Marrakech, September 28-29: Women in Africa organizes its second annual summit, with the participation of C. Carlier, Director of I&P Conseil

►New-York, October 2-4 : O. Lafourcade and E. Debled will attend ANDE's (Aspen Network of Development Entrepreneurs)  annual conference

►Casablanca, October 2-5 : C. Carlier will participate to the 10th edition of Pollutech Maroc, an International exhibition of equipments, technologies and services for the Environment

►Abidjan, October 4-5 : The Director of Comoé Capital, I. Sidibé, will intervene at the 4th edition of the Land of African Business

►Londres, October 23: J.-M. Severino et E. Debled will participate to EMPEA's event "Sustainable Investing in Emerging Markets"

►Paris, October 30-31: The GIIN (Global Impact Investing Network) will held its annual Investor Forum in France. Several team members will participate.
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