Joliba Capital, a private equity VC firm raised $59 million to closely support West African PMEs

Joliba Capital, an expert private equity company focused on investing in small and medium-sized enterprises (SMEs) in West Africa, has recently concluded the first phase of fundraising for Joliba Fund I, securing an impressive sum of $59 million.

Joliba Capital, an expert private equity company focused on investing in small and medium-sized enterprises (SMEs) in West Africa, has recently concluded the first phase of fundraising for Joliba Fund I, securing an impressive sum of $59 million.

The fund received significant attention, surpassing expectations as both commercial and developmental supporters showed more interest than anticipated. Key supporters of the fund include IFC, Proparco, FMO, LBO France, CDC Group, as well as a Proparco-managed account representing French institutional backers, along with numerous family trusts.

Joliba Fund I aims to provide assistance to fast-growing small and medium-sized enterprises (SMEs) in West Africa that have the potential to generate employment opportunities and contribute to economic development. It will prioritize industries such as manufacturing, agribusiness, and services.

Joliba Capital was established in 2019 by Mamadou Diallo, a former investment banker at Goldman Sachs. This financial firm has its offices in Abidjan and Lagos. The creation of Joliba Fund I represents a significant milestone for private equity in West Africa.

In recent times, there has been a noteworthy allocation of funds specifically for the region, signifying a growing interest in investing in African small and medium enterprises (SMEs). The Joliba Capital team's skill and dedication are highlighted by their effective fundraising efforts. They have a thorough understanding of the business landscape in West Africa and have consistently proven their investment expertise.

Joliba Capital, now equipped with the addition of Joliba Fund, is ready to have a substantial impact on the economic direction of West Africa. This will lead to the creation of job opportunities, increased economic activity, and improved quality of life for numerous individuals.