I&P celebrates opening of new office and 2nd investment in Ghana

On the occasion of CEO Jean-Michel Severino’s visit to Accra, I&P organized a launch event on Wednesday 4th February to mark the opening of its new office and the announcement of its second investment in Ghana. The opening of the new office demonstrates I&P’s commitment to strengthening its footprint in Anglophone Africa.

 ► Read the Press Release 

I&P strengthens footprint in Anglophone Africa 

Speaking at the launch event, Jean-Michel Severino, former Vice President at the World Bank and former CEO of Agence Française de Développement, remarked that “Ghana is a major western African country with a solid growth track record, but SMEs need there as all across Africa, more support to emerge and thrive. I&P can bring to the Ghanaian market its successful experience of investment in 60 SMEs across the continent, but also learn a lot in this dynamic market, that will benefit all its investee corporations."

From left to right: E.Debled,  Catherine Krobo-Edusei (Eden Tree), J.-M. Severino, S. Boyé, B. Out-Boateng, Francesco Ramella (VRS)

Since its inception, I&P has funded 3 companies based in Anglophone Africa, in Namibia, Kenya and Uganda. Ghana is the first Anglophone country where I&P has opened an office. 

Ghana's portfolio welcomes a new investee company: Eden Tree

For the past 3 years, I&P has worked in Ghana towards building a significant SME investment portfolio. The new local office is headed by Baafour Otu-Boateng, Investment Manager, whose background combines investment banking experience at UBS Investment Bank in New York with on-the-ground expertise building enterprises at TechnoServe in Ghana.

Currently, I&P’s portfolio in Ghana counts 2 investee companies: Voltacars Rental Services and Eden Tree: 

Voltacars Rental Services (VRS) is a long-term rental and servicing company. The company was founded in 2003 and now manages a fleet of 120 vehicles as a highly-competitive partner for multinational firms such as Total and Tigo

Eden Tree Ltd has been the leading independent provider of fresh fruits, vegetables and herbs in Ghana, relying on a network of over 375 out grower farming families. This investment has been approved by I&P Investment Committee and is currently being closed.

The I&P Afrique Entrepreneurs (IPAE) fund targets 4 to 5 new investments in Ghana by 2017 

In the Press

• Business & Financial Times Ghana (B&FT), "Changing Africa through responsible entrepreneurship", February 6, 2015
• Daily Guide, "French Investor commits 1,5m Euros for SMEs development", February 9, 2015
• Modern Ghana, "I&P celebrates 2nd Investment and opening of new office in Ghana", February 10, 2015
• Agence Ecofin, ''Ghana: le fonds I&P acquiert 45,5% du capital du producteur de fruits et légumes Eden Tree Ltd.", February 11, 2015
• Daily Graphic, February 11, 2015
• La Nouvelle Tribune, "Les news d'Afrique du 16 février", 16 février 2015