Bpifrance and AfricInvest announce launch of French African Fund
Bpifrance and AfricInvest are pleased to announce the launch of the French African Fund (“FFA”), the first cross-border investment fund dedicated to the development of small and medium-sized enterprises (SMEs) in both Africa and France. The fund will be managed by AfricInvest. A pool of diverse investors have subscribed to the fund including Bpifrance, two French private-sector groups—Société Générale and Orange, and Proparco (the AFD group). In addition, more than 25% of the fund’s subscription comes from African investors, including the Caisse Nationale de Prévoyance Sociale de Côte d’Ivoire (CNPS); the Moroccan insurance company Saham; the Moroccan industrial and financial group Financecom; the Central Bank of Kenya Pension Fund; private investors from Kenya and Nigeria, as well as AfricInvest itself.