The Swiss development finance institution, SIFEM, has committed $15 million to the first close of Ninety One’s Africa Credit Opportunities Fund 3, which aims to raise a total of $500 million. This initiative is focused on channeling private credit investments into businesses across Africa and other emerging markets.
Managed by responsAbility Investments, SIFEM will act as an anchor investor, providing essential support to high-growth companies on the continent. The fund is specifically designed to bolster medium-sized enterprises, thereby contributing to economic resilience, job creation, and sustainable development.
The first close of the fund saw participation from several notable strategic partners, including the International Finance Corporation and British International Investment, both serving as anchor investors. Additionally, Standard Bank of South Africa joined as a credit provider, further reinforcing the fund’s financial foundation.
Anthony Mwangi Njoroge, Principal and Co-Head of Africa Fund of Funds at responsAbility, highlighted the transformative potential of this investment:
This underscores SIFEM’s strong commitment to promoting sustainable development in Africa. By providing essential capital to medium-sized enterprises, we contribute to strengthening economic resilience, creating quality jobs, and supporting businesses that advance both social progress and environmental sustainability.
The partnership between SIFEM and responsAbility reflects a shared vision of fostering impactful investments across Africa’s emerging markets, ensuring long-term benefits for businesses and communities alike. This collaboration aims to drive significant economic and social progress, reinforcing the importance of sustainable development in the region.
