Enko Capital, an Africa-focused alternative asset manager with US$1.3 billion in assets under management (AUM), announced the first close of its flagship impact-focused private credit strategy, securing US$100 million toward a target of US$150 million and a hard cap of US$200 million. The fund aims to provide flexible, USD-denominated financing to mid-market companies across Sub-Saharan Africa, strengthening access to capital for enterprises driving sustainable economic growth on the continent.
Investors participating in the first close include British International Investment (BII), the UK’s development finance institution; IFC, a member of the World Bank Group; SICOM Global Fund Limited, a leading European impact investor; as well as African pension funds and family offices. The new fund represents a significant step in building Africa’s private credit market by unlocking new sources of liquidity for businesses traditionally underserved by commercial banks.
The Enko Impact Credit Fund targets established, cash-generating businesses in non-cyclical sectors such as agriculture, telecommunications, manufacturing, renewable energy, and financial services. By offering tailored, long-term capital solutions, the fund seeks to address the continent’s structural financing gaps, promote job creation, and stimulate inclusive economic development.
This first close also represents the first investment under the partnership between BII and IFC, two global development finance institutions jointly committed to expanding sustainable private credit markets across Africa. The collaboration underscores their shared focus on mobilizing institutional capital to drive long-term economic resilience and private sector-led growth.
Enko Capital, co-founded and managed by Alain Nkontchou, has established itself as a leading Africa-focused investment platform with strategies spanning private credit, private equity, and listed equities. Its latest fund builds on the firm’s deep local expertise and proven ability to deliver both impact and strong risk-adjusted returns.
KEY QUOTES:
“Our commitment to the Enko Impact Credit Fund reflects BII’s belief in the commercial potential of private credit in Africa and its role in closing the financing gap for mid-sized businesses. By anchoring the fund’s first close, our aim is to send a strong signal to other investors, attract additional capital and help build a viable private credit market that supports businesses critical to economic growth in Africa.”
Leslie Maasdorp, Chief Executive Officer, British International Investment (BII)
“The successful first close of Enko’s flagship private credit strategy underscores growing investor confidence in Africa’s sustainable development through private credit. With the support of leading international institutional development and impact investors, and local partners, the Fund is strategically positioned to offer customised capital solutions to high-quality mid-market SMEs, unlocking growth, supporting job creation, and advancing sustainable development, while generating compelling risk-adjusted returns for our investors. We are also proud that this marks the first investment under the partnership between BII and IFC, a collaboration that strengthens shared commitment to foster impactful, sustainable growth on the continent.”
Alain Nkontchou, Managing Partner, Enko Capital
“Expanding access to finance for mid-sized companies is critical to accelerating inclusive growth across Africa. IFC’s support for the Enko Impact Credit Fund demonstrates IFC’s commitment to channelling longer tenor and flexible funding to African businesses for growth and job creation. Through this partnership, we will support businesses across a range of sectors, from agribusiness to telecoms, that are critical for sustained economic growth.”
Mohamed Gouled, Vice President of Industries, International Finance Corporation (IFC)
