This a special fund, Africinvest Financial Sector Development Fund, will be going to support the development of financial sectors in Africa.The Fund will aim a better structuring of financial sectors in post-war African countries and at further developing of new niches in already-established African financial sectors.

The Fund will invest in financial institutions in Africa and in general into financial services related activities: banking, leasing, factoring, consumer credit, brokerage, credit bureau, rating, asset management, insurance, etc. It will particularly focus on new or existing financial institutions in countries where the financial sector is still not well developed, i.e. in countries with nascent financial sectors, in post-war countries and in less-developed countries, without excluding any other African country.

These opportunities have a high risk profile but hold interesting financial and development return potential. The aim is also to work closely with existing Financial Partners in Africa and to assist new initiatives in developing modern and sustainable financial institutions in Africa, whereby the international Best Practices, Corporate Governance and high accessibility for the mass in Africa will be focus.

The Fund will be managed by Africinvest Capital Partners (ACP), a leading African private equity investment manager, jointly initiated by FMO and Tuninvest FInance Group, as a generalist private equity fund manager operating in the Northern and Sub-Saharan Africa. ACP will be supported by local African management teams: CAURIS Management in Togo, CENAINVEST S.A. in Cameroon, Fidelity Capital Partners in Ghana, IBTC Ventures in Nigeria, Marocinvest, and Tuninvest Finance Group in Tunisia.

Developing the financial sector is a pre-requisite for economic development in Africa and since 1996 FMO has contributed towards creating a number of sound financial banking institutions in Africa. The Fund will thus help better structure the financial sector in post-war countries, where substantial financial needs meet investment opportunities. It will also focus on developing non-existing niche activities in more advanced African financial sectors. Africinvest Financial Sector Fund will invest no more than €2.5 million by investment and will act as a catalyst to the growth of financial institutions with important value added being brought through the team, through technical assistance, and through FMO network and deep knowledge of financial institutions.”

The Fund will also aim to be additional to what other investors in this sector, like development institutions or local or regional private investors are offering. It will offer access to the FMO Capacity Development budget to financial institutions and companies in need of technical know-how, training and implementing Best Practices.