The African Development Bank (AfDB) has approved a US$20 million equity investment in Uhuru Growth Fund 1.
The Fund is a first-generation fund sponsored by Uhuru Partners Limited, a private equity firm, focused on high growth middle market businesses across West Africa.
Uhuru Partners Limited is composed of an experienced indigenous team with strong local networks, extensive knowledge of the West Africa market and a track-record of SME investments in the region.
The Bank’s equity support will enable Uhuru Partners to make investment forays into consumer facing and financial services sectors in West African countries including Nigeria, Ghana, Cote d’Ivoire, Senegal, Burkina Faso and Mali..
Investments of $5 million and above will be made in companies in these sectors, helping them grow into regional champions, and creating new, high quality jobs.
The proposed investment will give the Bank approximately 10% of the Fund’s target capitalization of $200 million.
Equity…
Source: News Agency of Nigeria
