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About IPAE 1
I&P Afrique Entrepreneurs 1 (IPAE 1) is the second fund launched by I&P to support entrepreneurs seeking economic growth and societal impact.
It targets SMEs operating in Sub-Saharan Africa and the Indian Ocean whose financing needs are higher than the companies supported by IPDEV 1 and IPDEV 2, ranging from €300,000 to €1,5 million.
Click here to read more about IPAE's successor fund, IPAE 2
Key takeaways
⇒ 12 different countries, half of which are classified as Least Developed Countries.
⇒ The companies operate in a dozen different sectors (Food, Microfinance, Construction, Transport, Health, Services, IT, Energy...).
⇒ A combination of companies at different stages of growth, with around ¼ investing in start-ups and ¾ investing in companies in expansion phase.
⇒ IPAE1's partner companies are showing strong growth, both in turnover and number of employees.
⇒ The fund has fully exited 2 companies and has completed 8 partial exits or exits in progress.
IPAE 1's portfolio
IPAE 1's governance
IPAE 1 is governed by 3 bodies:
Every month the following professionals from the private equity and the development sectors meet to discuss on ongoing projects and investment decisions.
- Olivier Lafourcade, Consultant, former director at the World Bank
- Luc Rigouzzo, CEO of Améthis Finance, former CEO of Proparco
- Jean-Michel Severino, CEO of I&P and former CEO of AFD (2001-2010)
- François Wohrer, CEO of Compagnie Financière Degroof and former Senior Investment Officer at IFC
- Hervé Schricke, President "Club Afrique", AFIC
- Ann Katrin Dolium, Expert on ESG and CSR issues
- A member of the I&P team
Composed of representative of key investors of the fund, it meets at least twice a year to give another perspective on potential conflicts of interest and on the funds activities.
IPAE's investment team
Alioun Badara Sane
Ando Annette
Anna Traoré
Ben Kouakou
Ben Kouakou
Ben Kouakou joined I&P in 2021 and is operating as Investment Director for the funds I&P Afrique Entrepreneurs (IPAE 1 and IPAE 2).
...
Fitia Fonenantsoa
Fitia Fonenantsoa
Fitia joined I&P Madagascar's investment team as a Investment Officer in December 2021 and is in charge of developing new investments and monitoring the investment portfolio of IPAE in...
Francis Owusu
Francis Owusu
Francis joined the team in 2018 and operates as Investment Director in the Accra office. He manages the activities of IPAE 1 and IPAE 2 in Ghana and Nigeria.
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Landry Parkouda
Mialy Ranaivoson
Ny Andraina Andriamanantena
Oty Kévin Aie
Shino Grivel
Latest IPAE 1 News
 Article of Pharmivoire Nouvelle (Côte d’Ivoire) : Local production of medicine and accessibility challengesEntrepreneurs | 25/01/2018 The latest edition of the quarterly magazine « Private Sector and Development » focuses on the issue of African medicine. As recalled by Philippe Abecassis and Nathalie Coutinet in the introduction, access to proper medicine is a major challenge for African countries. The... |
 EVPA success stories: NEST in SenegalEntrepreneurs | 27/10/2017 The European Venture Philanthropy Association (EVPA) launched a new website featuring a set of innovative projects supported by foundations and impact funds. The Senegalese company NEST counts among the ‘’success stories’’ selected by EVPA. The stories showcase how these companies... |
 New impact study on I&P’s portfolio: ITGStore in CameroonEntrepreneurs | 19/10/2017 Each year I&P conducts an in-depth impact study on one of its portfolio companies. This year’s study focuses on ITGStore, an ITC company based in Cameroon. It was conducted by I&P and FERDI (the Foundation for International Development Study and Research). Download... |
 The funds IPAE ends its investment period with 2 new investments in MaliEntrepreneurs | 29/08/2017 The fund I&P Afrique Entrepreneurs (IPAE), launched in 2012, ends its investment period by realizing a second investment in Mali. IPAE now counts two Malian investees in its portfolio: Carrières et Chaux du Mali and the Société Malienne de Blanchisserie. ... |