Kessner Capital Management has launched its first private credit fund focused on Africa, aiming to provide growth capital to small and mid-sized businesses across the continent. This fund is positioned not just as a lending vehicle but as a long-term partner for businesses, emphasizing governance, transparency, and sustainable impact.
The co-founders, Bruno-Maurice Monny and Benny Osei, highlight the changing financial environment where banks are reducing liquidity, and the demand for financing in Africa is rapidly increasing. Their fund seeks to offer structured, patient capital informed by local knowledge to foster systemic change.
The fund has already gained strong backing, including support from Swiss private investment holding NFG SA and other international partners involved in structured finance and private equity. This support reflects growing recognition of the opportunity that Africa’s small and medium-sized enterprises (SMEs) represent—they are often too large for microfinance but too small or risky for traditional banks.
Kessner’s leadership combines global finance experience with an understanding of African markets. Monny brings expertise from J.P. Morgan and BNP Paribas, focusing on structured credit and emerging markets, while Osei’s background includes multi-asset strategies across frontier economies, with experience at Leifbridge Capital and Bloomberg.
An advisory board with strong credentials supports the fund, including former French defense minister Charles Millon, Africa finance specialist Colin Rezek, development finance advisor Christiane de Livonnière, and investor Frédéric Le Bourgeois, enhancing the fund’s strategic depth.
The launch is timely, given that African SMEs face an annual financing shortfall exceeding US$331 billion, according to the World Bank. Meanwhile, the continent is expected to grow at over 5 percent in 2025, outpacing many other regions, making the funding gap a critical barrier to scaling businesses, creating jobs, and expanding Africa’s global economic role.
Kessner’s strategy focuses on direct lending, incorporating rigorous due diligence and risk management in every deal. However, what differentiates it is a long-term approach, prioritizing sustainable business growth over quick financial exits.
This philosophy aligns with a broader trend in private credit, where investors are entering markets underserved by banks but rich in potential. For Africa, Kessner’s fund could represent a shift toward providing entrepreneurs and growth companies with long-term partners rather than short-term loans or donor aid.
If successful, Kessner’s model might inspire similar funds, potentially reshaping the financial landscape in Africa by improving access to patient, structured capital for SMEs.
