The fund will target investment opportunities across Francophone countries in Western and Central Africa to develop small and mid-cap regional champions seeking growth capital and operating expertise
Abidjan, Paris 30 January 2023 – Joliba Capital, an African private equity firm majority-owned by LBO France, a multi-specialist and multi-country investment platform, and founded by two seasoned African investment professionals Hamada Touré (Managing Partner) and Yann Pambou (CEO & Managing Partner), is pleased to announce a first close of its inaugural fund, Joliba Capital Fund I, at EUR 89 million.
This Rolling First Close reflects the trust and confidence that investors have placed on our vision and strategy. The Fund will principally target investment opportunities across Francophone countries in West and Central Africa to develop a diversified portfolio composed of small and mid-cap regional champions seeking growth capital and operating expertise in a wide range of consumer driven sectors including agribusiness, manufacturing, FMCG, education, healthcare, financial services, and logistics. In a market that remains undeveloped from a Private Equity perspective, Joliba Capital intends to contribute to supporting SME financing and to strengthening ESG and impact standards across the region while increasing the understanding of the benefits from private equity investments.
Joliba Capital Fund I is 2X Challenge qualified, demonstrating its ambition to maximize impact while generating superior returns for its investors.
Robert Daussun, Chairman of LBO France and Stéphanie Casciola, CEO of LBO France state: “We are happy to welcome DFC and Swedfund in Joliba Capital’s inaugural fund. Their commitment is a strong endorsement of the high value that African companies can create with the help of professional investors while addressing very concrete development challenges. LBO France will pursue its strategy in Africa with the ambition to support local communities and entrepreneurs unlock the full potential of the continent.”
The founders of Joliba Capital, Hamada Touré and Yann Pambou state: “We are pleased to count on the trust and support of DFC and Swedfund on our mission to boost the Francophone Africa private sector and create sustainable jobs. We sincerely thank our partner LBO France and our initial anchor investors Proparco, FMO, and IFC for their confidence and support.”
“DFC is proud to support Joliba Capital in expanding its investments to small and medium sized businesses in Cote d’Ivoire, Senegal, Cameroon and other Francophone West and Central African countries. DFC’s support will provide vital access to capital in these regions to support small businesses facing barriers to financing,” says Mateo Goldman, Acting Vice President of DFC’s Office of Equity, and Investment Funds.
“We are happy to be part of Joliba’s first fund, which will invest in sectors like financial services, consumer goods, insurance, and education. This gives Swedfund the opportunity to strengthen the private sector and to contribute to socio-economic development via increased decent job opportunities and enhanced gender equality. The investment will also support improved access to goods & services for the underserved, says Sofia Gedeon, Investment Director Sustainable Enterprises at Swedfund
About LBO France
A pioneer in private equity in France, LBO France is today a leading multi-specialist and multi-country investment platform. Active in Private Equity, Real Estate, Venture and Listed Investment, the Company has been expanding for several years its activities in Europe, especially in Italy via its subsidiary Polis Fondi SGR, as well as on the African continent via its subsidiary CGF bourse. Wholly owned by its managers, LBO France is one of the founding members of the International Climate Initiative and one of the first signatories of the France Invest charter for parity.
Find out more: www.lbofrance.com
About Joliba Capital
Joliba Capital is a private equity firm, founded by two seasoned African investment professionals, Hamada Touré & Yann Pambou, in partnership with LBO France, to target investment opportunities across Francophone countries in WAEMU and CEMAC regions to develop small and mid-cap regional champions seeking growth capital and operating expertise.
Find out more: www. joliba-capital.com
About the U.S. International Development Finance Corporation (DFC)
The U.S. International Development Finance Corporation (DFC) is the U.S. Government’s development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.
Find out more: www.dfc.gov
Media contacts LBO France
Nizar Berrada: +33 (0)6 38 31 90 50 / nizar.berrada@taddeo.fr
Julia Paget: +33 (0)6 38 55 68 78 / julia.paget@taddeo.fr
Media contacts Joliba Capital
Dieynaba Kamara/ dkamara@joliba-capital.com
Yann Pambou / ypambou@joliba-capital.com
Hamada Touré / htoure@joliba-capital.com