Joliba Capital of Côte d’Ivoire recently raised EUR 55 million (USD 57.8 million) for its newly launched Joliba Capital Fund. The participants in this first close of the fund are the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO); the International Finance Corporation (IFC), a member of the World Bank Group; and Proparco, a member of the French government’s Agence Francaise de Developpement Group. The funding is to be invested as equity in small and medium-sized enterprises (SMEs) as well as mid-caps in Francophone West and Central Africa. In particular, the fund will target sectors such as “agribusiness, manufacturing, FMCG [fast-moving consumer goods], education, healthcare, financial services, and logistics.” Joliba Capital will also support these investees with technical assistance.
Joliba Capital was founded in 2021 and – through October 2023 – has invested USD 500 million across Africa. The firm is majority-owned by LBO France, a Paris-based private equity firm. Financial details on LBO France are not publicly available.
By Pranav Agarwal, Research Associate
Sources and Additional Resources
LBO France press release on Joliba Capital Fund
https://www.lbofrance.com/en/joliba-capital-and-lbo-france-announce-the-first-close-of-joliba-capital-fund-i/
Joliba Capital homepage
https://joliba-capital.com
FMO homepage
https://www.fmo.nl
IFC homepage
https://www.ifc.org
Proparco homepage
https://www.proparco.fr
Previous MicroCapital article on FMO
https://www.microcapital.org/microcapital-brief-fmo-committing-30m-to-south-asia-growth-fund-iii-to-support-equity-placements-in-businesses-reducing-environmental-impacts-mainly-in-india/
Previous MicroCapital article on IFC
https://www.microcapital.org/microcapital-brief-akbank-selling-300m-in-bonds-to-dfc-aiib-ifc-half-to-support-women-owned-businesses-in-turkiye/
Previous MicroCapital article on Proparco
https://www.microcapital.org/microcapital-brief-fmo-proparco-lend-125m-to-nmb-for-msme-agriculture-green-financing-in-tanzania/
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