Key Takeaways
- Enko Capital has raised US$100 million in the first close of its impact-focused private credit strategy, targeting US$150 million at final close and a US$200 million hard cap.
- Key investors include British International Investment (BII), IFC, SICOM Global Fund Limited, a European impact investor, and several African pension funds and family offices.
- The Fund will provide U.S. dollar-denominated private credit to mid-market companies across Sub-Saharan Africa in non-cyclical sectors such as agriculture, telecommunications, renewable energy, manufacturing, and financial services.
- The initiative aims to close the structural credit gap for mid-sized African firms and promote sustainable economic growth.
- The fund marks the first investment under the partnership between BII and IFC.
Enko Capital Launches Private Credit Fund to Strengthen Africa’s Mid-Market Financing
Enko Capital, an Africa-focused alternative asset manager with US$1.3 billion in assets under management, has announced the first close of its new impact-oriented private credit strategy. The fund raised US$100 million from a group of global and regional investors, positioning itself to provide flexible financing to mid-sized companies across Sub-Saharan Africa.
The Fund will focus on well-established, cash-generating businesses in sectors less exposed to economic volatility, including agriculture, telecommunications, renewable energy, manufacturing, and financial services. By offering customized, U.S. dollar-denominated credit solutions, Enko Capital aims to fill a long-standing financing gap for mid-market enterprises that are often underserved by traditional banking institutions.
Institutional Support from BII and IFC
The first close attracted commitments from prominent international and regional investors, including British International Investment (BII), IFC (a member of the World Bank Group), SICOM Global Fund Limited, a leading African asset manager, a European impact investor, and multiple African pension funds and family offices.
Leslie Maasdorp, Chief Executive Officer at BII, emphasized the importance of private credit in driving African business growth: “Our commitment to the Enko Impact Credit Fund reflects BII’s belief in the commercial potential of private credit in Africa and its role in closing the financing gap for mid-sized businesses. By anchoring the fund’s first close, our aim is to attract additional capital and build a viable private credit market that supports businesses critical to economic growth in Africa.”
Enko Capital’s Approach to Sustainable Private Credit
According to Alain Nkontchou, Managing Partner of Enko Capital, the successful first close demonstrates growing investor confidence in Africa’s private credit market and its potential to support sustainable development: “With the backing of leading development and impact investors, and strong local partnerships, the Fund is positioned to provide tailored capital solutions to high-quality mid-market SMEs—unlocking growth, supporting job creation, and generating attractive risk-adjusted returns.”
Mohamed Gouled, Vice President of Industries at IFC, added that the initiative supports broader economic resilience: “Expanding access to finance for mid-sized companies is critical to accelerating inclusive growth across Africa. IFC’s support for the Enko Impact Credit Fund will help businesses in key sectors, from agribusiness to telecoms, that are vital for long-term development.”
