PE firm signs 11 new seed funding deals in West Africa
Launched in July 2020 with the support of the European Union through the Emergency Trust Fund for Africa, the I&P Acceleration in Sahel programme has signed a dozen new seed investments these last months.
I&P Acceleration in Sahel is an innovative programme providing seed funding and technical assistance missions to small companies and start-ups that are considered too young to benefit from conventional financing (bank loans, capital investment, etc.).
During the last few months, I&P and the impact investment funds – Comoé Capital, Sinergi Burkina, Sinergi Niger and Teranga Capital – have welcomed eight new companies in three Sahelian countries:
In Burkina Faso:
– Fenel, a fashion accessory design house based on handwoven fabrics
– Salgatech, a company producing and installing multifunctional cold rooms and ice machines
– Yam Agro Industries, a company specialised in the production of syrups (bissap, ginger) and mango jam
In Côte d’Ivoire:
– Citrine Corporation, a company specialised in the processing and marketing of cassava into fresh attiéké and placali
– Ecoclair, a company specialised in industrial laundry for hotel complexes, companies, industries and private customers
– E’Sens, an Ivorian company specialised in the production of essential oils of citrus fruits (bitter orange, bergamot)
– Syn’el, a company specialised in the artisanal manufacturing of sorbets on sticks from entirely natural juices
In Mali:
– Fulbe & Khem, a laboratory specialised in the transformation of local medicinal plants into food supplements and cosmetic products and the marketing of the products through pharmacies, parapharmacies, mini-markets and organic chain stores.
Moreoever, three new companies received additional support from the local teams in charge of the programme, enabling them to strengthen their cash flow, develop new services, or strengthen their supply sources:
– Africa Radio, a private pan-African and independent radio station
– Firefly, a communication company within public transport in Senegal, particularly buses in Senegal
– Golden Nuts & Grains, a company specialised in the production of natural juices from local products.
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