In Africa, SMEs accounts for about 50 percent of job creation and 33 percent of gross domestic product (GDP), the sector has a funding gap of more than $140 billion. This is the gap AFIG (Advanced Finance & Investment Group) Funds saw in the market and decided to put together a private equity fund with a strong developmental angle that can address it.
AFIG Funds is a private equity firm, which provides its corporate clients with expertise in management (account & auditing) and finance, argued that SMEs in Africa do not need only financing, they also need management and operational expertise to enable them to grow.
The Chief Executive Officer of Funds at the Advanced Finance and Investment Group (AFIG), Papa Madiaw Ndiaye, says his company will raise $200 million over the next two years as part of its commitment to support Small and Medium Enterprises (SMEs) in Africa. Following on this big venture, the private equity continues to make waves in the African continent.
AFIG Funds is proud to be one of the sponsors of the 14th Annual African Private Equity and Venture Capital Association (AVCA) Conference 2017 #AVCACon2017 held in Abidjan, Côte d’Ivoire.
The annual AVCA Conference is the largest private equity gathering globally, attracting investors who collectively manage over US$1.5tn in assets. Over the past 13 years, the AVCA conference has become the most important forum for promoting, developing, and stimulating private investment in Africa. The conference continues to be a rallying beacon, shedding light on the vast opportunities available to global investors, and guiding the industry with informative research and thought leadership.
