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In the press

« Private-equity funds, an opportunity for the African private sector…» Serge Touré in the Ivorian magazine L'Inter
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« Accompany small growing businesses in Senegal... Â» Patrice Gomis in Réussir Business magazine
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«Getting to know impact investment Â» David Munnich in Forbes Africa.
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« We have to acknowledge how intricate Africa is» JM Severino in L’Afrique magazine
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I&P News

JM Severino met Malagasy Prime Minister Roger Kolo when visiting I&P Madagascar last June 
I&P's Entrepreneurs Network held its first meetings in Abidjan and Antananarivo in May and June 2014 

I&P Madagascar took part to the 1st Private Equity Symposium in Antanananarivo last June 12th 


JM Severino will speak at the next Forbes Africa Forum in Brazzaville on 7/25th
I&P will hold IPAE and IPDEV's General Assembly of Shareholders in Paris on 9/23rd
Olivier Lafourcade will attend the annual ANDE meeting in New York on next 9/29th and 10/1st


I&P renews its partnership with the Global Impact Investing Network

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Ann-Katrin Dolium
New investment committee member of I&P Afrique Entrepreneurs fund specialized in environmental, social
and governance impacts

" [...] After 8 years spent at VIGEO, I am really pleased to witness the emergence of an increasing number of actors who take into account environmental, social and governance (ESG) factors in their investment deals and in particular in SMEs. The positive impact of this approach is multiple. It allows both a decrease of the negative social and environmental impacts and the promotion of best practices and opportunities.
This type of investment contributes to the sustainability of the company which can thus access responsible investment markets; those are increasingly conditioned by CSR criteria. Secondly, the development of social practices promotes productivity, competitiveness and improves services quality. It also contributes to a better resources control and thereby to the environment’s protection. Finally, ESG-sensitive investments foster good corporate governance, which will create better relationships with all stakeholders.
I am delighted to enter I&P Afrique Entrepreneurs fund’s investment committee and I sincerely hope to contribute to the development of African businesses while accompanying them on a major issue : responsible financing.

Read complete edito
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Our ESG/impacts policy supporting African SMEs

Investisseurs & Partenaires impact measurement method was presented as a european exemple by the G8 Social Impact Investment Taskforce. This working group was to propose a framework and measurement indicators within a view to define "impact investment".

I&P' core mission relies on an essential ESG/impacts method seeking to promote responsible African entrepreneurs. It aims at improving environmental and social practices on a daily basis, through a practical action plan in order to enhance our investees' impact upon their local environment. As to measure this contribution to development, we collect every year a series of indicators among the portfolio companies.

Our ESG/impact policy is built alongside with the entrepreneur so as to make sure that the impact enhancement within the company should bring both value and performance.

I&P Afrique Entrepreneurs ESG/impacts 2013 report is now online.

As a proof of committment, I&P signed the Principles for Responsible Investment set by the United Nations Finance Initiative for the Environment (UNEP). A complete reporting was delivered for 2013, available online on the PRI website.
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Double feature : two new lady entrepreneurs among the IPAE partners 

Dr Elizabeth Kacou, Chairman of the Board of Directors of Pharmivoire Nouvelle (Pharmaceutics - Ivory Coast)

Dr. Elizabeth Kacou is an Ivorian, married mother of two. After graduating in France as a pharmacist, she came back to Ivory Coast in 1981 to open her own chemistry in 1986. Beyond her vocation as a pharmacist, Dr. Kacou nourrishes a passion for entrepreneur-ship she enhanced during several management trainings (HEC Paris, HEC Executive Ivory Coast). 

In 1993, she is made a member of the Ivorian Order of the Pharmacists. There she participated in the creation of the Copharm (a pharmacist cooperative gathering more than 300 practitionners) to which she is elected as President. In 1999, Copharm purchased Pharmivoire Nouvelle, then in dire straits. The buyouts coincides with the countries socio-economic crisis. Elizabeth, became Chairman of the company and then launched a complete restructuration that made of Pharmivoire one of the leaders in the country's pharmaceutics industry. 

Following the recent financing from IPAE fund - among other financial insitutions - Pharmivoire, which is already the only local producer of soft-packed intravenous fluids, will be able to increase productivity and competitiveness face to foreign imports. Thus, the company ambitions to comply with the Ivorian demand and even export to the sub-region

Laure Djoukam, CEO of CDM (Building inputs - Cameroon) 

Laure Djoukam holds a Finance Analysis MBA from the Kellogg School of Management in Evanston, US and degree in Accountability and Finances from ESSEC Douala. She decided then to take part throughout her career in the development of her country and continent.

In 2000, after a few years spent working for an american NGO, she is admitted at Kellogg. Three years later she founded a consulting agency bridging financing and technical sources with Camerounian SMEs. Within this framework she undertook numerous missions for USAID in Mali, Ivory Coast, Ghana and Tchad. She also worked with SME financing programs like EXIM BANK and OPIC. In 2009, she joined the IFC (World Bank) to manage the program GOWE, a 10 million EUR fund supporting women entrepreneurs. Through this program, more than 300 women are trained to the essential role of the enterprise management. 

In 2011, she decided to embark on the entrepreneur ship and took the lead of Carrières du Moungo, a company created by her husband 4 years ago.

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In brief, our partners' news  

"Franck Touré, the opticians' defender". CEO of Viseo (Optical - Ivory Coast) was interviewed in Tycoon, an Ivorian business magazine about his career as an entrepreneur and his committment for eye health in Ivory Coast. Read more.


Gisèle Etame, CEO of Genemark (Pharmaceutics - Cameroun) took part in the study undertaken by the RSE Institute on the informal drug vendors and the risks they can cause to the local health market. Download the report. 

Jean-Gabriel Fopa, CEO of ITG Store (Computing - Cameroun) was appointed steering comittee member of the brandnew NICT training center hosted at the University of Yaoundé. This center is part of a World Bank program spanning throughout Central and West Africa to fund 15 high-level training centers. Read more.

Phileol (Agriculture - Madagascar) starts a threefold developement plan with more productive species of ricin seeds distributed to partnering farmers, new oilseed crops (baobab, moringa, jatropha and prickly pears) and a subventions raising campaign to fund seed study researches and farmers training. Learn more


Oxus (Microfinance – DRC) appeared on France 24 channel in a special edition of La Semaine de l'Eco focusing on the Democratic Republic of Congo. Light was made on the country's hard but relentless economic recovery and the role played by small entrepreneurs and diaspora. Watch the footage


Last portfolio shifts 

  • IPAE celebrates its second anniversary with two new deals : Pharmivoire Nouvelle (Pharmaceutics - Ivory Coast) and CDM (Building inputs - Cameroon) Read the press release
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Intelligence & Analysis

  • Though the African macroeconomic situation is still improving, weaknesses should not be overlooked 
> Pierre Jacquet shades recent enthousiasm around the African gold rush in his article "La croissance Africaine, une performance à relativiser". 

> He relies on the recommandations of the African Center for Economic Transformation in its last study. The premise of this report is that the recent economic growth, while welcome, will not by itself sustain development on the continent.  
> More inclusion and responsible investment could serve this growth, especially swelled by the private-equity investments that have undergone a 46% increase on emerging markets according to EMPEA last figures.
  • Development financing actors are increasingly attracted to a new segment : impact investment 
> A 19% capital increase attributed to impact investment records a recent report by the Global Impact Investing Network (GIIN) and JP Morgan

> G8 Taskforce on Social Impact Investment development handed over their final conclusions on June 19th in London after an 8 month-long consultation and reflection held between the main national actors. 

> And think-tankers echoed accross the Channel as 10 propositions for a new approach in official development aid were recorded as the Faber-Nadoo Report appointed by the French Development State Secretary.

> IMF also summoned a more inclusive and more sustainable growth on its last study summed up here.
  • Crowdfunding keeps on winning the development hearts
> The FADEV designed the first equity crowdfunding online platform, a participative website enabling internet users to use their savings as financing sources for small African entrepreneurs. 

> This initiative was followed by Â« Le Défi  Solidaire Â», a crowdfunding platform adressed to Beninese diaspora members willing to fund micro-projects in their home country. 
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