Enko Capital raises 45 billion CFA francs to invest in Africa
The fund Enko Africa Private Equity Fund (EAPEF) will support businesses in the region.Cameroonian private equity firm Enko Capital Managers announced on February 22nd the closing of its Enko Africa Private Equity Fund (EAPEF) at 45 billion CFA francs (€75.81 million).
This fund, supported by investors such as Proparco, Massena Partners, the African Development Bank and investment fund Soros Brothers, will be dedicated to investments in businesses with high potential in Africa, Business in Cameroon newspaper reports.
Enko Capital said that it is planning to conclude eight operations of investment in African companies, in addition to its latest investment in the financial services sector in Zambia.
"I reckon that we now have a solid platform to build an attractive private equity portfolio of assets in Africa. We are particularly glad to be investing in first rate companies of the future and to help them achieve their goal of reaching a sustainable growth", said the founder of Enko Capital Managers, Cyrille Nkontchou.
He added that "the equity market in Africa is still under-developed and offers a potentially lucrative road for private equity funds."