AFDB injects €12.5M into Adiwale Partners Co to support SMEs’ development in francophone West Africa  

Finance
Monday, 01 April 2019 13:08
AFDB injects €12.5M into Adiwale Partners Co to support SMEs’ development in francophone West Africa  

(Togo First) - The African Developent Bank (AfDB) has approved a €12.5 million financing in first generation private equity fund Adiwale Fund 1. The information was revealed by the pan-African institution in a statement issued last Thursday.

The Bank’s investment in Adiwale Fund 1 will improve financing options and SMEs capacities in French-speaking West Africa,” said Alhassane Haidara, head of industries and non-sovereign services at the AfDB.

The recently approved financing will first profit Côte d’Ivoir, Senegal, Burkina Faso and Mali and then Togo, Benin and Guinea.

Adiwale Fund 1 was co-founded in 2016 by two Togolese citizens, Jean-Marc Savi de Tové and Vissého Gnassounou. It targets SMEs with a high potential in the French-speaking part of West Africa. Its transactions’ volume ranges between three and eight million euros according to the AfDB and it has capitalization of €75 million.

Ayi Renaud Dossavi

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