Lebanese private equity firm, EuroMena Fund LP, is working to establish a $200 million debt fund which will benefit African companies. The fund which will provide loans to the firms will close by the end of 2017.

According to Bloomberg which reported the news, the fund and another of $100 million also in the pipeline, fall under the investor’s strategy which aims at tapping into the potential of the Lebanese diaspora (which is highly present in Africa) which is three times the size of the population residing in Lebanon itself.

Euromena has already invested in Africa through stake acquisition. Amongst assets it acquired across the continent, a clothing stores operator in Tunisia, a higher education institute based in Morocco and a toilet-paper manufacturer in Nigeria.

Chamberline Moko