Joliba Capital Fund I
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Joliba Capital Fund I is a first-time fund raised by Joliba Capital. The Fund targets EUR 150 million in fund size and will build a diversified portfolio of 8-10 investments in consumer-driven sectors across Francophone West- & Central Africa. The fund is set up by Yann Pambou and Hamada Touré, two experienced African investment professionals in partnership with LBO France, an established French private equity firm based in Paris, operating primarily in Western Europe.
What is our funding objective?
The private equity market development in the fund’s target region lags behind many of the other large economies in the continent. The resulting funding gap hampers the growth of SME’s in the region. By contributing to the establishment of a dedicated and professional fund manager, our capital commitment supports the success of local entrepreneurs in the region. Economic growth funded by ‘conscious capital’ also helps to engrain institutional quality to the benefit of all stakeholders, whilst improving the appeal of the portfolio companies to international investors. In collaboration with Joliba we expect to promote SDG5 (gender equality), SDG8 (decent work and economic growth) and SDG 10 (reduced inequalities). These objectives are aligned with the mandates of both MASSIF and Building Prospects, which both contribute to this investment (EUR 10 million and EUR 5 million respectively).
Why do we fund this investment?
In Joliba Capital we have found a partner that shares our mission to “enable entrepreneurs to increase inclusive and sustainable prosperity.” The core team are from the nationals of the target investment countries and aims to bring their international experience from other private equity firms to the region. LBO France has considerable experience and capability in European private equity and adds invaluable institutional strength and rigour to this endeavour.
What is the Environmental and Social categorization rationale?
The E&S categorization of Joliba Capital Fund I is ‘B’, based on the pipeline, the Fund Manager’s investment strategy and demonstrated commitment to E&S. FMO and other DFI investors intend to continue supporting the Fund Manager on further refining its ESMS as well as the management of E&S risks in the investment portfolio, in line with the IFC Performance Standards.
More investments
| Date | Total FMO financing |
|---|---|
| 8/24/2023 | EUR 10.00 MLN |
- Website customer/investment
- https://joliba-capital.com/
- Region
- Africa
- Country
- Africa
- Sector
- Infrastructure, Manufacturing and Services
- Publication date
- 2/3/2023
- Effective date
- 8/24/2023
- Total FMO financing
- EUR 5.00 MLN
- Funding
- Building Prospects
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B