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Enko Capital, a firm specializing in investments across Africa, has secured a significant commitment from the International Finance Corporation (IFC) for its new Enko Impact Credit Fund (EICF).
The IFC, part of the World Bank Group, has pledged to invest up to $25 million or 20% of the fund’s total commitments, whichever is less.
The EICF is Enko Capital’s inaugural private credit fund, aiming to raise $150 million in total.
The first closing, targeting $80 million, is expected in the third quarter of 2025.
The fund plans to provide U.S. dollar-denominated senior secured and unsecured debt to mid-sized companies operating in sub-Saharan Africa, excluding South Africa.
The focus will be on businesses aligned with Sustainable Development Goals (SDGs), emphasizing environmental, social, and governance (ESG) criteria, as well as gender-oriented enterprises.
To manage potential risks, the fund will utilize financial instruments such as guarantees, insurance wraps, and collateral.
It aims for gross returns between 14% and 16%, with cash coupons ranging from 9% to 11%, and the remainder expected from additional upside structures.
Alain Nkontchou, Managing Partner at Enko Capital, expressed appreciation for the IFC’s support, stating that the fund will provide essential growth capital to mid-market small and medium-sized enterprises (SMEs) across the continent.
He emphasized that this initiative addresses the significant funding gap faced by African businesses and contributes to sustainable development .
Established in 2008 by Alain and Cyrille Nkontchou, Enko Capital manages over $1 billion in assets, with investments spanning debt, private debt, equity, and private equity across Africa.
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