(Business in Cameroon) – Enko Capital closes $100 million (≈ 65 billion CFA) in its Enko Impact Credit Fund, targeting $150 million total.
- IFC, BII, SICOM Global Fund, and African pension funds join as cornerstone investors.
- The fund will provide USD loans to mid-sized African firms in resilient sectors such as agriculture, telecoms, and renewables.
Pan-African asset manager Enko Capital, led by Alain and Cyrille Nkontchou, announced the first close of its Enko Impact Credit Fund at $100 million, or about CFA65 billion, toward a final target of $150 million (CFA84.4 billion).
The raise, backed by major international financial institutions, marks a turning point for Africa’s nascent private credit market. Investors include British International Investment (BII), the International Finance Corporation (IFC), SICOM Global Fund, along with several African pension funds, asset managers, and family offices.
The fund will extend U.S. dollar-denominated loans to profitable, mid-market firms across sub-Saharan Africa. Enko Capital will focus on resilient industries such as agriculture, telecommunications, manufacturing, renewable energy, and financial services.
“The success of the first close of our flagship private credit strategy underscores growing investor confidence in Africa’s sustainable development potential,” said Alain Nkontchou, Managing Partner at Enko Capital.
Mohamed Gouled, IFC’s Vice President for Industries, emphasized that “expanding access to finance for mid-sized companies is essential to accelerating inclusive growth in Africa.”
He added, “IFC’s support for the Enko Impact Credit Fund reflects our commitment to provide flexible, long-term financing to African businesses, spurring expansion and job creation. Through this partnership, we will back key sectors — from agribusiness to telecommunications — that underpin sustainable economic growth.”
Through this fund, Enko Capital aims to build a robust African private credit ecosystem capable of attracting more international capital and reducing the continent’s chronic financing gap for small and mid-sized enterprises.
The initiative aligns with a broader continental effort to mobilize private capital to complement traditional funding channels, which remain insufficient relative to Africa’s development needs.
This article was initially published in French by Amina Malloum
Adapted in English by Ange Jason Quenum
