IVORY COAST – Joliba Capital, an African private equity firm, has reached the first close of its inaugural fund, Joliba Capital Fund I, at €89 million (US$96.5 Million).
The fund has secured commitments of more than €33 million (US$35.66m) from the U.S. International Development Finance Corporation (DFC) and Swedfund as part of a rolling first close.
“DFC is proud to support Joliba Capital in expanding its investments to small and medium-sized businesses in Côte d’Ivoire, Senegal, Cameroon and other Francophone West and Central African countries,” said Mateo Goldman, acting vice president of DFC’s office of equity, and investment funds.
“DFC’s support will provide vital access to capital in these regions to support small businesses facing barriers to financing.”
Joliba Capital is a private equity firm, founded by two seasoned African investment professionals, Hamada Touré & Yann Pambou, in partnership with LBO France, to target investment opportunities across Francophone countries in WAEMU and CEMAC regions to develop small and mid-cap regional champions seeking growth capital and operating expertise.
The fund will principally target investment opportunities across Francophone countries in West and Central Africa to develop a diversified portfolio composed of small and mid-cap regional champions in a wide range of consumer-driven sectors, including agribusiness, manufacturing, FMCG, education, healthcare, financial services, and logistics.
“We are happy to be part of Joliba’s first fund, which will invest in sectors like financial services, consumer goods, insurance, and education,” said Sofia Gedeon, investment director for sustainable enterprises at Swedfund.
“This allows Swedfund to strengthen the private sector and to contribute to socio-economic development via increased decent job opportunities and enhanced gender equality. The investment will also support improved access to goods and services for the underserved.”
In a market that remains largely undeveloped from a private equity perspective, Joliba Capital intends to play a crucial role in supporting SME financing and strengthening environmental, social, and governance (ESG) and impact standards across the region. The firm is committed to increasing awareness of the benefits of private equity investments in the region.
Joliba Capital Fund I is proud to be 2X Challenge qualified, showcasing its dedication to maximizing impact while delivering superior returns for its investors.
LBO France, a multi-specialist and multi-country investment platform and majority owner of Joliba Capital, expresses its commitment to supporting local communities and entrepreneurs to unlock the full potential of the continent.
Joliba Capital, in collaboration with DFC and Swedfund, is poised to make a significant impact on small and medium-sized businesses in Cote d’Ivoire, Senegal, Cameroon, and other Francophone West and Central African countries.
The investment will not only support these businesses but also contribute to improved access to goods and services for the underserved in the region.
A pioneer in private equity in France, LBO France is today a leading multi-specialist and multi-country investment platform. Active in Private Equity, Real Estate, Venture, and Listed Investment, the Company has been expanding its activities in Europe and on the African continent.
Wholly owned by its managers, LBO France is one of the founding members of the International Climate Initiative and one of the first signatories of the France Invest charter for parity.
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