Senegal: Khuwaylid Capital launches Islamic impact fund
The fund will target SMEs in agribusiness, healthcare, and education.
Khuwaylid Capital has announced the first close of the Khuwaylid Capital Fund 1, an Islamic impact investment fund in Francophone Africa. The fund, anchored by local investors, has a maximum target size of €8 million.
The inaugural fund will initially target small and medium-sized enterprises (SMEs) in Senegal in agribusiness, healthcare, and education.
"This fund represents a significant step forward for the region. By channelling capital into SMEs, we are not only addressing critical socio-economic challenges but also fostering a more resilient and inclusive economy,” said Sokhna Diagne, chair of the board of directors of Khuwaylid Capital.
Nafissatou Fall Diagne, representative of MMA Holdings, one of the corporate investors in the fund, commented: "MMA Holdings is proud to be part of this groundbreaking initiative. We believe in the transformative power of impact investment and are confident that this fund will pave the way for sustainable growth and development in Senegal and beyond."
Diago Dieye, founder and managing partner of Khuwaylid Capital, added, "We are pleased to introduce the first Islamic impact investment fund to Francophone Africa. Khuwaylid Capital is poised to make a tangible difference by investing in impactful ventures that address critical socio-economic challenges. We extend our heartfelt gratitude to our initial investors for their trust and confidence in us. We eagerly anticipate welcoming more mission-aligned investors in the coming months as we work towards our final close."
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