Leading pan-African private equity firm AfricInvest has announced its successful exit from AFG Holding, a regional banking group headquartered in Côte d’Ivoire. The exit marks the conclusion of a high-impact investment period that saw AFG achieve significant growth in scale, profitability, and regional influence.
AfricInvest made its investment in AFG in October 2022 through its AfricInvest Fund IV (AF IV). Over the course of the partnership, AFG’s consolidated balance sheet doubled, growing from $3 billion to nearly $6 billion. The group’s net loan portfolio expanded from $1.4 billion to $2.5 billion, while net banking income more than doubled, reflecting both operational efficiency and strategic expansion.
Strategic Growth and Regional Impact
AFG Holding, which operates across West, Central, and Southern Africa, has emerged as a key player in the continent’s financial services sector. During AfricInvest’s investment period, the group pursued a focused growth strategy that included:
- Strengthening its capital base to support lending and financial inclusion.
- Expanding its footprint across multiple African markets.
- Enhancing digital banking capabilities to reach underserved populations.
- Improving governance and risk management frameworks in line with international standards.
These efforts contributed to AFG’s transformation into a more resilient and regionally integrated banking group, better positioned to serve both retail and institutional clients across diverse markets.
AfricInvest Reflects on a Transformative Partnership
Youssouf Koné, Director at AfricInvest, commented on the exit:
We are proud to have supported AFG Holding during a pivotal stage of its development, helping to drive its strategic expansion. We have no doubt that the group will continue to play a transformative role in shaping the banking landscape across West, Central, and Southern Africa.
The exit underscores AfricInvest’s broader mission of catalyzing growth in African enterprises through long-term capital, strategic guidance, and operational support. It also highlights the firm’s ability to generate strong financial returns while contributing to the development of Africa’s financial infrastructure.