Enko Capital, a leading Africa-focused alternative asset manager, has successfully completed the first close of its Enko Impact Credit Fund, securing commitments totaling $100 million toward its $150 million target. This milestone marks a significant step in Enko’s mission to expand access to private credit across sub-Saharan Africa.
The fund attracted a diverse group of investors for its initial close, including prominent development finance institutions such as British International Investment (BII) and the International Finance Corporation (IFC). Other participants include SICOM Global Fund, alongside a mix of African pension funds, family offices, and global asset managers, reflecting broad confidence in the fund’s strategy and impact potential.
The Enko Impact Credit Fund is designed to provide US dollar-denominated private credit to mid-market companies operating in sub-Saharan Africa. It targets established, cash-generating businesses in non-cyclical sectors, including:
- Agriculture
- Telecommunications
- Manufacturing
- Renewable Energy
- Financial Services
By focusing on resilient industries, the fund aims to support companies that are critical to the region’s long-term economic stability and growth.
Alain Nkontchou, Managing Partner at Enko Capital, emphasized the significance of the fund’s launch:
The successful first close of Enko’s flagship private credit strategy underscores growing investor confidence in Africa’s sustainable development through private credit.
Leslie Maasdorp, CEO of BII, highlighted the strategic importance of their investment:
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, our aim is 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.
Mohamed Gouled, Vice President for Industries at IFC, added:
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 a range of sectors, from agribusiness to telecoms, that are critical for sustained economic growth.
With this first close, Enko Capital is well-positioned to deploy capital into impactful opportunities that foster economic resilience, job creation, and sustainable development across the continent.
