The move is designed to unlock growth financing for mid-sized African businesses.

The fund has successfully raised US $100 million at its first close, attracting a mix of development finance institutions, African pension funds, family offices, and commercial investors.

The launch of the Enko Impact Credit Fund marks a significant step toward addressing the chronic financing gap that continues to hold back many of Africa’s mid-market enterprises.

These businesses often have strong potential for growth but remain underserved by traditional lenders, who tend to view them as too risky or lack the flexibility to meet their financing needs.

The EICF seeks to change that narrative by offering tailored private credit solutions across vital sectors such as agriculture, renewable energy, telecommunications, manufacturing, and financial services — all critical drivers of inclusive and sustainable economic development on the continent.

According to Leslie Maasdorp, Chief Executive Officer of BII, the institution’s investment aims to demonstrate the commercial potential of private credit in Africa while crowding in additional capital from global and regional investors.

“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,” Maasdorp said.

Alain Nkontchou, Managing Partner of Enko Capital, described the first close as evidence of growing investor confidence in Africa’s private credit space.

“With the support of leading international institutional development and impact investors, and local partners, the fund is strategically positioned to offer customised capital solutions to high-quality mid-market SMEs,” he noted.

“This will unlock growth, support job creation, and advance sustainable development, while generating compelling risk-adjusted returns for our investors,” he added.

Enko’s new fund adds to the momentum building behind private credit as an emerging asset class in Africa.

For BII, which has previously backed funds such as the BluePeak Private Capital Fund II, Africa Go Green Fund, and African Rivers Fund IV, this latest investment fits within its broader strategy to deepen capital markets and catalyse private-sector growth.

By channelling flexible, growth-oriented financing into promising mid-sized companies, the Enko Impact Credit Fund is expected to help African enterprises expand their operations, create jobs, and contribute to the continent’s long-term sustainable growth.