Africa-focused investment firm Enko Capital has raised $100 million in the first close of a new private credit fund aimed at financing growth across sub-Saharan Africa.
The fund, which targets a final close of up to $150 million and is capped at $200 million, will provide USD-denominated private debt to established, cash-generating businesses. Enko Capital plans to channel the funds into sectors such as agriculture, telecommunications, manufacturing, renewable energy, and financial services.
The anchor investor in the fund’s first close is British International Investment (BII), the United Kingdom’s development finance institution. Mauritius-based SICOM Global Fund also participated as a co-investor.
Founded in 2008 by brothers Alain and Cyrille Nkontchou, Enko Capital manages about $1.3 billion in assets across Africa. The firm has been expanding its footprint in the region — most recently acquiring Société Générale’s Mauritania unit and increasing its influence in the banking sector after Alain Nkontchou’s private vehicle purchased a 21% stake in Ecobank.
The new fund underscores growing investor appetite for private credit opportunities in Africa, as international and regional investors seek alternatives to traditional equity investments. Enko’s strategy focuses on supporting companies with steady cash flows while offering investors exposure to dollar-denominated returns.
The firm said the fund will help bridge Africa’s financing gap by providing flexible, long-term capital to businesses that are often underserved by commercial banks.
