United Capital Plc Partners Societe Generale, Orange, Others To Support African SMEs With €77million Fund

• United Capital Plc, has signed a 10 years partnership with global financial and corporate institutions to set up a Franco-African Investment Fund (FFA), with investible funds of 77 million euro.

• Other investors in the Franco-African Investment Fund apart from United Capital include, Societe Generale Orange, BpiFrance, Africinvet, Caisse Nationale de Prevoyance Sociale of CDI, Proparco (AFD), SAHAM from Morocco, Financecom, the pension fund of the Central Bank of Kenya and other private investors in Kenya.

• The Group Chief Executive Officer Oluwatoyin Sanni explained, “United Capital is committed to expanding its investment horizon and identifying prime opportunities to grow returns for its investors not just in Nigeria but on the African continent.

• Fund will be split into half, with 50% to be invested in French SMEs who have interest in doing business in and with Africa and the other 50% will be invested in African SMEs.

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Source: Guardian