SFC Finance

providing customized debt solutions
to Small and Medium Enterprises (SMEs) in Africa

Who We Are

SFC Finance Limited (SFC) is a non-bank financial institution, providing secured medium- and long-term debt financing to Small and Medium Enterprises (SMEs) in Africa.

The AfricInvest Group, one of the leading private equity firms in North and sub-Saharan Africa, partnered with FMO, the Dutch development bank, an emerging market private equity fund managed by MicroVest Capital Management and Finnfund, the Finnish development finance institution, to create SFC. While delivering market returns, SFC aims to achieve social impact.

SFC was launched in May 2014 and commenced its operations with committed shareholders’ equity of USD 20 million and an initial USD 50 million debt facility extended by the Overseas Private Investment Corporation (OPIC).

SFC will focus on lending to successful African SMEs in need of funding for growth or expansion, as a senior secured offshore lender. It will structure financial offerings with tenors adapted to the cash generation capabilities of the SME.  SFC has management, staff and a board of directors that are independent of the AfricInvest Group’s private equity activities.

Understanding that medium-sized African businesses typically have different collateral to offer than their larger counterparts, SFC will work with them on a flexible basis to ensure that deserving borrowers have access to appropriate debt financing.

What We Finance

SFC is targeting growing SMEs with solid track-records, proven cash generation capabilities and viable business plans, in various sectors except non-ethical or speculative industries. SFC’s objective is to assist companies to expand, improve their performance and to become more competitive in a sustainable way. Companies financed by SFC will take advantage of :

• The AfricInvest Group’s 20 years of SME expertise
• Capacity development possibilities to assist clients (when available),
• Senior secured debt from USD 1.5 million to USD 4 million and with longer weighted average life than typically available locally in most African markets,
• Debt service structured to match cash flows.

SFC analyzes clients using in-depth due diligence to ensure credit quality and to identify added value through the group's network. SFC is positioning itself as a business partner to its SME customers, endeavoring to contribute to the enhancement of their businesses.

Our people

Fethi Mestiri

CEO

Fethi Mestiri joined SFC in 2017. Previously he served as Managing Director of Tunisie Leasing for thirteen years, having joined the company when it was created in 1984 as Finance Director. He is also a member of the Boards of Directors of Tunisie Valeurs, Ennakl Automobile, Integra Partners, Tuninvest Finance Group, and Tunisie Leasing.

Mr. Mestiri has a Master’s degree in Accounting Management from the Institut des Hautes Etudes Commerciales de Tunis, and a Certificat Supérieur de Révision Comptable.

Samia Tnani

Head of Credit

Samia joined SFC Finance as Head of Credit in January, 2014. Prior to that, since 2009 she was Managing Director of the Université Paris-Dauphine, Tunis Campus, where she led the launch of the University's Tunis campus. Samia also has 11 years of banking experience with Citibank in Tunis, where she joined as a Relationship Manager and subsequently concentrated on Credit and Risk by establishing a Credit Analysis unit, managing the remedial management portfolio and then serving as Country Risk Manager;

Samia is a graduate of the IHEC Carthage (BA), and Université Paris-Dauphine (Masters and PhD in Finance).

Kouraiech Belhajali

Head of Risk and Operations

Prior to joining SFC Finance in 2013, Kouraiech spent 13 years working in IT, operations and banking in Europe and Tunisia.
With several French consulting firms he participated in IT projects for Société Générale, BNP Paribas, Natixis and Dexia. He was part of the team managing the worldwide IT integration for the Crédit Lyonnais and Crédit Agricole merger. With Protivtiti (Robert Half Group) he worked on a quality review of the internal audit business line for the entire Crédit Agricole group.
At Banque Zitouna he co-led the bank launch program (69 Projects) and was a member of the steering committee. He managed the division in charge of processes, policies and IT business analysis.

Kouraiech is a graduate of the University IHEC Carthage (BA), and Laval University, Québec, Canada (Masters).

Board of Directors

Michael Barth

Chairman

Michael Barth has had a long and distinguished career in global emerging markets investing. He is currently Managing Partner of Washington based Barth & Associates LLC, an independent emerging markets investment advisory firm, and holds various board directorships. Between 2006 and 2012, he held different senior positions in Darby Overseas Investments Ltd., an emerging markets private equity firm. In 2005, Mr. Barth completed his term of over five years as Chief Executive Officer of FMO. In his last two years at FMO, he also served as Chairman of the European Association of Private Sector-Oriented Development Banks (EDFI). Prior to his tenure at FMO, he served as Director at the International Finance Corporation (IFC) and the World Bank.

Aziz Mebarek

Director

Aziz Mebarek is a co-founder of AfricInvest. He has over 20 years of experience in the private equity industry both in the Maghreb region and in Sub-Saharan Africa. As AfricInvest's Executive Partner, Mr. Mebarek has participated in raising around $1 billion in private equity funds as well as structuring and executing several equity transactions on the investment and divestment sides. He acts as a board member for certain investee companies in the Maghreb region, Sub-Saharan Africa and Europe. Prior to co-founding AfricInvest, Mr. Mebarek was the General Manager of two industrial companies, ILVA Maghreb and Tunisacier International (which are affiliates of ILVA, a large Italian conglomerate).

Skander Oueslati

Director

Skander Oueslati is Senior Partner and co-head of sub-Saharan Africa at AfricInvest. Prior to Joining AfricInvest in 2008, he was head of Structured Finance with MediCapital Bank, a wholesale and investment bank dedicated to Africa and based in London as well as Senior Investment Officer with the International Finance Corporation in Washington DC, USA. During his time with IFC he worked on investments across several sectors including, Telecoms and Infrastructure as well as Treasury where he executed IFC's first local currency bond issue in Francophone West Africa.

George Janssen

Director

George Janssen joined FMO’s Private Equity department in 2012, and currently focuses on direct (mainly financial institutions (FI)) and indirect (fund) investments in Africa. From 2008 to 2011, he worked at FMO’s Structured Financing Housing department where he was responsible for origination, due diligence and execution of structured finance transactions for developers and FIs in Africa, Asia and Eastern Europe. From 2004 to 2008, Mr. Janssen worked for FMO’s Eastern Europe and Central Asia department where he was responsible for portfolio management and origination, due diligence and execution of repeat transactions in Eastern Europe and Central Asia, with a special focus on FIs in Russia, Kazakhstan and Azerbaijan.

Frederic Mille

Director

Frederic Mille is a Private Equity Investment Officer with MicroVest. Prior to MicroVest, he spent three years in Cameroon, both with GFI, an impact investor, and with Médecins sans Frontières. Before that, Frederic held various positions over a ten-year period, mostly focusing on Mergers and Acquisitions, with French investment banks, including Rothschild, Athema, and Arjil & Associés. Mr. Mille has a Masters in International Public Policy from Johns Hopkins University’s School of Advanced International Studies in Washington, D.C., and is a graduate, with a Masters in Management, of ESCP Europe, in Paris.

Ashraf Ali Deenmahomed

Director

Ashraf Ali Deenmahomed leads the Trident Trust Company's Mauritius office Fund Administration team. He previously was the Senior Fund Administrator for a large Mauritius-based offshore management company where he also supervised funds based in various jurisdictions. Prior to entering the fund industry, Mr. Deenmahomed worked for a number of years at HSBC Bank (Mauritius) Limited.

Randhirsingh Juddoo

Director

Randhirsingh Juddoo is the Managing Director of Trident Trust Company (Mauritius) Ltd. He began his career in Financial Services in 1996 and was part of the original team when Trident Trust opened its Mauritius office in 2000. He has headed the office since July 2002. Mr. Juddoo serves as a Director on the boards of some of the largest Africa development funds and funds investing into India, all of which are administered by Trident’s Mauritius office. The promoters of these funds include the World Bank’s International Finance Corporation, the European Investment Bank, the African Development Bank, FMO and BIO.

Ziad Oueslati

Alternate Director

Ziad Oueslati is currently the MD and a co-founding Partner of AfricInvest. Mr. Oueslati participated in the structuring and raising of several investment funds targeting the Maghreb and Sub-Saharan Africa totaling about US$ 1 billion. He is a board member of several North African and sub-Saharan companies. Mr. Oueslati has structured over 50 investments in Africa in several industrial and service sectors. Between 1990 and 1994 he was head of the Financial Institutions and Capital Markets Department at Citibank, Tunis. Mr. Oueslati is a member of the Board of Amcham Tunisia, PNB-NAPEO Tunisia, the Emerging Markets Private Equity Association, the African Venture Capital Association, and the Tunisian Venture Capital Association.

Juha-Pekka Tuomipuu

Observer, Finnfund

Juha-Pekka Tuomipuu has been a Senior Investment Manager at Finnfund (Finnish Fund for Industrial Cooperation) since 2004 and is a Member of Finnfund’s credit risk committee. Before joining Finnfund he was Senior Adviser to FIDE, a subsidiary of Finnvera responsible for international relations. Mr. Tuomipuu was also a Finnish Government representative in the EU working group on Export credits and the OECD Participants and ECG Working Group. Previously he held different positions in large Finnish institutions.

Credit Committee

William Thomas

Previously CEO, Bill Thomas joined SFC Finance in 2013 after many years as a banker, largely focused on Africa and the Middle East. During this time, he was Country Head for Citibank in Tunisia and for the Standard Bank of South Africa in Ghana. He concentrated on credit and risk as Director of Credit for Africa with the Standard Bank and Head of Risk and Underwriting at Citicorp International Trade Indemnity. In the early part of his career, he held various positions covering Africa with Chemical Bank and HSBC, located in New York, Nairobi, London and Hartford, Connecticut.

Mr. Thomas is a graduate of Occidental College in Los Angeles and did his Masters work in the MSFS program at Georgetown University in Washington, D.C.

Alain Lepatre-Lamontagne

Alain Lepatre-Lamontagne is an experienced emerging markets banker. He is Board Chairman of Microcred Senegal and Director at Microcred Ivory Coast, Mali & BPEC Togo. From 1997 to 2007 Mr. Lepatre-Lamontagne was General Manager of Bank of Africa in Burkina Faso and in Madagascar. Previously, Mr. Lepatre-Lamontagne worked for over 20 years with Credit Agricole, both in France and in emerging markets.

Joël Sibrac

Joël Sibrac is the Managing Director of 3 J S Conseil, an independent advisory firm in Casablanca, Morocco. He is also member of the Boards of Directors of AXA Assurance Maroc, Delattre Levivier Maroc, Banque Commerciale du Congo, DOCArchives and SAGFI Group. Earlier, Mr. Sibrac spent over 30 years with the BNP Parisbas Group in Europe, North America and Africa, including serving as Chairman of the Management Board of BMCI in Morocco and Director and Senior Executive Vice-President of Bank West in the USA.

Contact Details

SFC Finance Limited

contactsfc@africinvest.com

Immeuble Integra Centre Urbain Nord, 1082, Tunis, Tunisia

Tel: (+216) 71 189 800 | Fax: (+216) 71 189 850