April 6 2017: On the eve of AVCA’s 14th Annual Conference in Abidjan, the Pan-African news site La Tribune Afrique profiled Hurley Doddy and Vincent Le Guennou, Emerging Capital Partners’ (ECP) Co-CEOs, on private equity’s developmental impact in Africa over the past 16 years. The article reflects on how private equity has driven job creation, economic growth, and development, ultimately contributing to a more vibrant and diverse economic landscape referenced as “Africapitalism.”
The article highlighted that ECP has been a part of Africa’s economic development since the early 2000s and a witness to the continent’s rebound following headwinds in the aftermath of the 2008 financial crisis. Last year, private equity investments across the finance, energy, industrial, health, technology, and consumer sectors resurged, totaling US$3.8 million, up from US$2.5 million in 2015. And with growing support from international Development Finance Institutions, an average of US$2.7 million in funds were raised each year since 2011, attesting to Africa’s continued potential and attractiveness for international investors.
ECP’ spokespeople emphasized that since the early 2000s, the firm has played and continues to play a significant role in supporting high-growth and entrepreneurial African businesses. ECP’s investment in Eranove has strengthened the company’s position as a leading public service manager contributing to electricity and drinking water security in West Africa. ECP’s investee company Oragroup has expanded across and supported SME financing in 12 countries in West Africa. Through its Africa presence, locally-sourced advice, long-term capital investments, and commitment to delivering value to investors and shareholders alike, ECP contributes to economic growth not only for portfolio companies but also the communities in which they operate.
Today in its 16th year, ECP continues to drive Africa’s development at a time when well-managed investment opportunities poised for growth are few and far. With investments in more than 60 African companies, a total of US$2.7b raised, of which US$850m were raised in the last five years, and nearly 40 exits, ECP remains as an entrenched and committed investor on the continent.
To access the full article, please see Afrique La Tribune.