IFC plans to buy Sh3.8bn stake in Nairobi-linked African-focused PE fund

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IFC says the fund is expected to increase access to private equity capital and value-creation for small-cap companies in Africa.

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International Finance Corporation (IFC) plans to make an equity investment of up to $30 million (Sh3.87 billion) in a pan-African private equity fund focused on small and medium sized enterprises in markets such as Kenya.

The amount will be invested in Adenia Entrepreneurial Fund I (AEF I), which is headquartered in Mauritius and has five regional offices covering Kenya, Madagascar, Morocco, Nigeria and South Africa.

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