Finance

Private equity targeting West African SMEs secures US$10 mln commitment

Private equity targeting West African SMEs secures US$10 mln commitment
Wednesday, 11 May 2022 18:49

Kuramo Capital is committing funds to  Uhuru Growth I, one year after its first commitment. This time, the fund wants to finance high-growth SMEs in West Africa.

Investment management firm Kuramo Capital announced, Saturday (May 7), a US$10 million commitment to Uhuru Growth Fund I (“UGF”), a private equity targeting high-growth companies in West Africa.  

The investment will mainly fund SMEs operating in West Africa. “We are very excited by our commitment to UGF. Kuramo believes in indigenous teams like Uhuru whose local but global edge is critical to Kuramo’s strategy of generating excellent long-term risk-adjusted returns for our investors. We believe Uhuru has a compelling investment strategy with a competitive edge in identifying relatively attractive opportunities due to their extensive local network. Additionally, the Uhuru team is expected to bring their experience in global best business practices to their portfolio companies as part of their value creation process,” commented Wale Adeosun (photo), Kuramo Capital’s Founder, CEO, and Chief Investment Officer.

The commitment is announced one year after Uhuru Growth Fund I made its first closing at US$113 million.  In May 2021, several financial institutions, including Kuramo Capital, committed funds to the investment vehicle. At the time, the funds raised were aimed at supporting the post-Covid-19 recovery of local businesses and stimulating intra-African trades.   

Thanks to the new commitments,  Uhuru Growth Fund I plans to partner with companies in the consumer and financial services sectors. The financial support this vehicle will provide is expected to improve beneficiaries’ operations and business practices. By doing so,  the fund hopes to have a positive impact on the growth of West African economies.

Kuramo, which has approximately US$500 million in assets under management, says it is ready to continue its catalytic investments in sub-Saharan Africa. 

This support includes opportunities for GPs and entrepreneurs to access institutional capital, as well as develop a global footprint and deep understanding of the region,” Kuramo indicates. 

Chamberline MOKO

On the same topic
Mobile microloans reach 897,021 in CEMAC, totaling CFA14.45 billion Growth driven by mobile money expansion, fintech partnerships, automated...
Letshego Africa Holdings, a Botswana-based financial services group listed on the Botswana Stock Exchange, signed agreements with Axian Digital...
First RMBS listing on BRVM backed by NSIA Banque Côte d’Ivoire CFA10 billion securitization aims to expand housing finance Move seeks to deepen...
Holmarcom to acquire BNP Paribas 67% stake in BMCI Deal pending approvals, expected to close Q4 2026 Move strengthens Holmarcom...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...

Tanzania Secures $2.33 Billion in Syndicated Financing for Standard Gauge Railway
03

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
04

Jetour to produce T1, T2 SUVs in South Africa from 2027 Chery to acquire Rosslyn plant, cre...

Chinese Automaker Jetour to assemble SUVs in South Africa from 2027
05

Ecobank named alongside AfDB, ECOWAS, EBID and BOAD in the April 27, 2026 corridor financing mis...

Ecobank's Quiet Inclusion in the AfDB Mission Reshapes the Abidjan-Lagos Corridor Story
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.