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Enko Capital, an asset management firm focused on African markets, has announced that the Caisse des Dépôts et Consignations of Benin (CDC Benin) has subscribed to its Francophone West Africa SME Strategy. This is an Alternative Investment Fund focused on supporting small and medium-sized enterprises in Francophone West Africa.
This is an Alternative Investment Fund focused on supporting small and medium-sized enterprises in Francophone West Africa.
CDC Benin has joined the fund as an institutional investor, indicating that public financial institutions in the WAEMU region are showing more interest in private equity to support local businesses and create jobs.
“We are delighted to welcome CDC Benin among the investors in the FCPR Strategy. The participation of a public financial institution of CDC Benin’s stature is a strong endorsement of the quality of our investment strategy and strengthens our ability to support a greater number of high-potential SMEs across Francophone West Africa,” said Cyrille Nkontchou, Managing Partner of Enko Capital.
Founded in 2008, Enko Capital is an African-focused asset management firm managing debt, private debt, equity and private equity investments across Africa. It aims to provide good returns for investors while managing risk.
At present, Enko Capital Group manages approximately $1.6 billion in assets, with offices in London, Johannesburg, Abidjan, Kigali, Port Louis, and Yaoundé.
The FCPR Strategy invests in small and medium-sized enterprises (SMEs) in Francophone West Africa to foster entrepreneurship and job growth. It also helps regional investors, like CDC Benin, to diversify their investments into private equity.
“CDC Benin’s investment in the FCPR Strategy illustrates the Fund’s growing attractiveness to regional institutional investors and validates the relevance of our strategy for financing West African SMEs. This partnership with a leading deposit and consignments institution such as CDC Benin paves the way for broader engagement with other public financial institutions across the WAEMU region and confirms the role the Fund intends to play in mobilizing domestic savings to support the real economy,” added Cheikh Souleymane Diallo, Senior Investment Director at Enko Capital.
Founded in October 2018, the Caisse des Dépôts et Consignations du Bénin (CDC Bénin) is a public financial institution to manage public and private funds for Benin’s economic and social development.
“This investment is fully aligned with CDC Benin’s mission, which is to mobilise national savings for the development of our economy. By choosing to support the FCPR Strategy, we are contributing to the financing of high-potential Beninese and West African SMEs while diversifying our portfolio in line with our requirements for returns, risk management, and the preservation of the resources entrusted to us,” said Maryse Lokossou, Chief Executive Officer of CDC Benin.
