Enko Capital, an Africa-focused alternative asset manager, has raised $100 million to address Africa’s structural credit gap and support economic growth, job creation, and sustainable development.
With $1.3 billion in assets under management (AUM), the company announced the first close of its impact-focused private credit strategy (the Fund), raising $100 million toward its target of $150 million at final close, with a hard cap of $200 million.
Investors in the first close include British International Investment (BII), the UK’s development finance institution; IFC, a member of the World Bank Group; SICOM Global Fund Limited, one of Africa’s leading asset managers; a European impact investor; and African pension funds and family offices.
The Fund provides US dollar-denominated private credit to mid-market companies across Sub-Saharan Africa, focusing on established, cash-generating businesses in non-cyclical sectors such as agriculture, telecommunications, manufacturing, renewable energy, and financial services.
By offering flexible, tailored financing to well-managed enterprises often underserved by traditional lenders, the Fund seeks to address the structural credit gap facing mid-sized African firms and to demonstrate the commercial potential of private credit on the continent.
The chief executive officer at BII, Leslie Maasdorp, said, “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, we aim to send a strong signal to other investors, attract additional capital and help build a viable private credit market that supports businesses critical to economic growth in Africa.”
The managing partner of Enko Capital, Alain Nkontchou, stated that “the successful first close of Enko’s flagship private credit strategy underscores growing investor confidence in Africa’s sustainable development through private credit. With the support of leading international institutional development, impact investors, and local partners, the Fund is strategically positioned to offer customised capital solutions to high-quality mid-market SMEs, unlocking growth, supporting job creation, and advancing sustainable development while generating compelling risk-adjusted returns for our investors. “
Nkontchou added, “We are also proud that this marks the first investment under the partnership between BII and IFC, a collaboration that strengthens our shared commitment to foster impactful, sustainable growth on the continent.”
The vice president of Industries at IFC, Mohamed Gouled, said, “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 demonstrates IFC’s commitment to channelling longer tenor and flexible funding to African businesses for growth and job creation. Through this partnership, we will support businesses across various sectors, from agribusiness to telecom, that are critical for sustained economic growth.”
Enko Capital is an Africa-focused asset management firm managing debt, private debt, equity and private equity investments across Africa. The firm manages $1.3 billion across its strategies. Enko offers a deep knowledge of the continent combined with best-in-class investment expertise. Enko seeks to deliver strong risk-adjusted absolute returns for its investors.
