The French National Private Equity and Venture Capital Association (AFIC) has created a Club dedicated to bringing together private equity professionals interested in Africa.
The Africa Club has been created in the wake of unprecedented economic growth witnessed in Africa over the past 10 years. The region's population is set to double by 2050, and the World Bank estimates financing needs at USD90 billion annually for the next 15 to 20 years. The Club will support the growing interest of French private equity and venture capital professionals in Africa.
It is chaired by Hervé Schricke, a seasoned private equity professional and former Chairman of AFIC with considerable knowledge and in-depth experience of Africa, who worked for over ten years in major African banks.
The Club aims to create and lead a group of professionals in the private equity sector operating in Africa or wishing to expand their activities on the Continent. The Club will help identify and foster French expertise, as well as play a role in sharing experiences and pooling knowledge.
It will also have an instructional role for French, African and international investors on the nature and advantages of the French market to attract capital and expertise from Paris for Africa.
The Club will help build ties with African private equity players and especially professional associations. It will also represent the French industry at international events and work with French institutions that play a role in the development of private equity in Africa.
Hervé Schricke, Chairman of AFIC's Africa Club, says: "While a promising private equity industry is emerging in Africa, AFIC wishes to bring together through the Club a range of expertise to help with the development and financing of growth on the African continent. It is an opportunity to contribute to strengthening the economic and financial ties between France and Africa, which are close both geographically and culturally".
