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The team of Investisseurs & Partenaires
wishes you the best for 2016!
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2015 has been a busy and enthralling year for I&P, confirming once again the strong entrepreneurial dynamism on the African continent.
I&P strives to contribute, at its own scale, to the emergence of a new generation of African businesses. Pleading the case for African entrepreneurship is therefore a key component of our impact policy, to demonstrate that it is not only possible but extremely relevant to support the small and growing businesses of the continent.
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Jean-Michel SEVERINO,
President of Investisseurs & Partenaires |
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I&P launches a new fund dedicated to the missing middle of African infrastructure
Acknowledging the financing gap in the sector of small-scale infrastructure in Africa, I&P partners with InfraMed and launches the fund I&P Africa Infrastructure.
The fund aims to raise 150 million euros and the first closing is expected for mid-2016.
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Portrait : Gatien Adjagboni
Founder and Director of TINCY BAKERY, new investment of IPAE in Benin
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The fund I&P Afrique Entrepreneurs (IPAE) has recently welcomed a new company in its portfolio with TINCY, a semi-industrial bakery that produces and distributes a wide variety of breads in Cotonou and its surroundings.
We met the founder and director of TINCY, Gatien Adjagboni.
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In short: news from our partners
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The Madagascan company Scrimad, specialized in the export of litchi and tropical fruits, has started the production of fruit purée with its newly built factory, operational since December 2015. Read More.
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The Microfinance Institution Finance Trust Bank, based in Uganda, launch a mobile banking offer for its customers and partners with the leading telecommunication companies of the country. Read more
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PhileoL, based in Madagascar, has successfully closed its crowdfunding campain, organized with BlueBees. The company has raised 40,000€ to finance the annual collect of castor oil seeds, ensuring stable income for 5,000 small producers. Read more
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Bagoré Bathily, director of La Laiterie du Berger (Senegal) has received a Dan Award by the company Danone for the quality of its products, directly inspired by local practice. Read more.
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The CEO of Persistent Energy Ghana, Hugh Whalan, participated to the ‘’Action Day’’ hold on December 5 during the COP21. He intervened in a session dedicated to companies mobilization on climate change issues. Read More
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Intelligence and Analysis
The SME sector in Africa does not seem to fully benefit from the rapid growth of private equity in Africa
 In 2014, the value of private equity transactions in Africa reached 8.1 billion dollars, demonstrating the regain of interest for the region since the 2007 crisis. And yet, as underlined by J.-L. Koffi Vovor in African Banker, "there is a still a an insufficient number of actors to address the financing needs of SMEs, especially in West and East Africa"
Financing the companies of the "missing middle" since its creation, I&P has recently contributed, with the African Club of AFIC to a white paper on private equity in Africa, to be released soon. There are about 30 million small and medium enterprises in Africa, among which 8 million represent a potential market for private equity funds investing between 100,000 and 5 millions euros.
Can impact investing funds achieve market-rate financial performance?
 Several new reports have documented the good performance achieved by impact investing private equity funds. According to the Wharton School of the University of Pennsylvania or Cambridge Associates, certain market segments of impact investing funds yield returns close or superior to those of public market indices.
 These reports should not however led us to underestimate the great heterogeneity of impact funds. As explained by Jean-Michel Severino and Pierrick Baraton in the book " Financing Sustainable Development" (published by FERDI), the impact objective is taken fully on board in the running of the fund and mobilizes ressources that will no longer available for profit maximisation.
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