Africa-focussed asset manager Enko Capital has secured $100m at the first close of its flagship private credit vehicle targeting mid-market companies across sub-Saharan Africa, according to a report by Bloomberg. The fund has a target size of $150m at final close and a hard cap of $200m.
Enko, which manages around $1.3bn in assets, intends to lend to established, cash-generating businesses in sectors such as agriculture, telecommunications, manufacturing, renewable energy and financial services, companies traditionally underserved by banks in the region.
Investors for the first close include the UK’s development finance institution British International Investment, the International Finance Corporation and a mix of African pension funds and family offices.
For private markets participants, this raise signals growing institutional interest in private-credit strategies across emerging markets and reflects the increasing role of impact-oriented capital flows into Africa’s mid-market.
