Joliba Capital Raises €55 Million in First Close of Joliba Fund I, Backed by IFC, Proparco, FMO, and LBO France
Abidjan-based private equity firm Joliba Capital has achieved the first close of its Joliba Fund I, securing €55 million in investments from a range of commercial and development investors. Partners include IFC, Proparco, FMO, and French private equity firm LBO France. The fund will focus on supporting SMEs in French-speaking African countries, providing both financial backing and operational support, particularly in areas like digital transformation and talent management. IFC’s equity investment of up to €15 million will further bolster this effort and help create markets in regions with nascent private equity ecosystems.
Key Points:
- Joliba Capital, based in Abidjan, has achieved the first close of Joliba Fund I, securing €55 million from investors including IFC, Proparco, FMO, and LBO France.
- The fund will focus on supporting SMEs in French-speaking African countries, providing financial backing and operational support, particularly in areas like digital transformation and talent management.
- IFC’s equity investment of up to €15 million will further bolster this effort and help create markets in regions with nascent private equity ecosystems.
- Private equity activity in West and Central Africa remains relatively low, and the fund aims to bridge the financing gap in Francophone West and Central Africa.
- Joliba Capital’s Co-Founders, Hamada Touré and Yann Pambou, express pride in the achievement and emphasize the importance of innovative financial solutions for African SMEs.
Analysis: The first close of Joliba Fund I represents a significant milestone in bolstering support for SMEs in Francophone West and Central Africa. The backing of key investors like IFC, Proparco, FMO, and LBO France underscores the importance of such initiatives in regions with emerging private equity ecosystems.
This fund not only provides vital financial resources but also offers crucial operational support, particularly in areas like digital transformation and talent management. Such comprehensive assistance is likely to enhance the growth and sustainability of supported SMEs.
Furthermore, IFC’s equity investment not only contributes to the financial backing but also plays a strategic role in creating new equity financing sources for SMEs. This move aligns with the broader goal of fostering economic growth and development in the region.
The success of Joliba Fund I’s initial close indicates a positive trajectory for supporting SMEs in Francophone West and Central Africa. As the fund progresses towards its final close, it is expected to make a meaningful impact on the entrepreneurial landscape in the region.