Enko Capital, an Africa-focused alternative asset manager with $1.3 billion in assets under management, has announced the first close of its new impact-focused private credit fund, raising $100 million toward a $150 million target, with a hard cap of $200 million at final close. The fund has attracted commitments from a range of high-profile investors, including British International Investment (BII), the International Finance Corporation (IFC), SICOM Global Fund Limited, and several African pension funds and family offices.
The Enko Impact Credit Fund will provide US dollar-denominated private credit to mid-market companies across Sub-Saharan Africa, focusing on established, cash-generating businesses in sectors such as agriculture, telecommunications, manufacturing, renewable energy, and financial services. By offering flexible, tailored financing to enterprises often underserved by traditional banks, the fund aims to help close the region’s structural credit gap while demonstrating the commercial viability of private credit in Africa.
Leslie Maasdorp, CEO of BII, highlighted that the institution’s participation reflects confidence in the growth potential of Africa’s private credit market. He said that anchoring the fund’s first close sends a strong signal to other investors, helping attract additional capital and build a viable private credit market that supports businesses critical to economic growth in Africa.
Alain Nkontchou, Enko Capital’s managing partner, emphasized that the milestone demonstrates growing investor confidence in Africa’s sustainable development through private credit. He noted that the fund is strategically positioned to offer customized capital solutions to high-quality mid-market SMEs, supporting growth, job creation, and sustainable development while delivering compelling risk-adjusted returns for investors.
The close also marks the first investment under a new partnership between BII and the IFC, aimed at deepening collaboration to promote impactful and sustainable growth across the continent. Mohamed Gouled, IFC vice president of industries, said the initiative will strengthen access to finance for mid-sized African firms, supporting businesses across sectors critical for sustained economic growth, including agribusiness and telecommunications.
