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Submitted by on Thu, 02/18/2016 - 16:44
The last edition of the newsletter reviews I&P's busy agenda over the last two months, with the 4th entrepreneur seminar, the official launch of the "Club of Entrepreneurs", the new investments of IPAE portfolio and the first closing of the fund IPDEV2.
Paul Derreumaux, deeply involved in IPDEV2 project since the beginning, signs the editorial of the newsletter and comments this major event for the Fund:
Edito of Paul Derreumaux: "Support financial inclusion in Sub-Saharan Africa"
With the launching of the Fund IPDEV2, I&P’s team and shareholders take an important step toward their main objective: to support the expansion and strengthening of African small enterprises, which are key contributors to job creation and local development. IPDEV2 project consists in the creation of ten African funds in the decade to come. Each of these funds will invest in capital and will bring all the support needed by their portfolio companies. Local institutions and individuals will take part of the funding roundtable of these national funds.
Sinergi Niger, launched in 2006, is working on this model. Being a pioneering actor in this sector has proven to be tough but also particularly helpful for the companies in which Sinergi has invested. Sinergi Burkina, created in 2014, has realized its first investments this year, and Teranga Capital, based in Senegal, should be fully operational by December 2015.
IPDEV2 today announced its first closing, with a capital of 9.5 million euros. The second closing should be announced in 2016. This initial closing gathers institutional partners such as Proparco or the West African Bank of Development, but also international philanthropy actors and individual shareholders. All of them share the strong conviction that small and medium enterprises are a main driving force of African economic development, with strong benefits for local populations. All of them agree that the low direct profitability of IPDEV2 is largely compensated by the positive impacts expected in targeted countries (more than 500 companies supported, and about 15,000 jobs created). African entrepreneurs are truly “every heroes”, characterized by a deep understanding of local needs, an unvarying tenacity, and a strong capacity to innovate. All these elements are vital to ensure an inclusive growth on the African continent.
