Joliba Capital Raises $59 Million to Invest in West African SMEs
Joliba Capital, a private equity firm focused on investing in SMEs in West Africa, has announced the first close of its Joliba Fund I at $59m.
The fund was oversubscribed, with strong demand from both commercial and development investors.
The lead investors in the fund are IFC, Proparco, FMO, and the French private equity firm LBO France. Other investors include CDC Group, Proparco’s managed account for French institutional investors, and several family offices.
Joliba Fund, I will invest in SMEs in West Africa that are growing rapidly and have the potential to create jobs and contribute to economic development. The fund will focus on sectors such as manufacturing, agribusiness, and services.
Joliba Capital was founded in 2019 by Mamadou Diallo, a former investment banker with Goldman Sachs. The firm has offices in Abidjan and Lagos.
The closing of Joliba Fund I is a significant milestone for the private equity market in West Africa.
It is the largest fund to be raised for this region in recent years, and it is a sign of the growing interest in investing in African SMEs.
The fund’s success is also a testament to the hard work and dedication of the Joliba Capital team. The firm has a deep understanding of the West African market and a proven track record of investing in successful businesses.
With the closing of Joliba Fund I, Joliba Capital is well-positioned to make a significant impact on the economic development of West Africa.
The fund will help to create jobs, boost economic growth, and improve the lives of millions of people.
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