The Belgian impact investment manager Incofin IM has just finalized the sale of the stake that its Incofin CVSO fund held in ACEP Burkina via a transaction with SIDI (Solidarité Internationale pour le Développement et l’Investissement), an investment company to impact founded in 1983 by the CCFD-Terre Solidaire.
Incofin CVSO, managed by Incofin Investment Management, sold its entire 20% stake in ACEP Burkina, which allowed the fund to obtain an attractive return on investment. Incofin CVSO has invested in ACEP since the very beginning of the company. Incofin played a key role in providing additional senior debt and technical assistance (project still ongoing). In addition, Incofin led efforts to professionalize governance and contributed to the successful expansion of ACEP Burkina.
Today, ACEP Burkina is the second largest microfinance institution in Burkina Faso by the size of its portfolio (gross loan portfolio of 41.7 million euros in December 2021) and offers a wide range of financial solutions, including including loans, deposit accounts, money transfer services to SMEs, institutions and individuals. The company serves more than 32,000 customers. ACEP mainly focuses on micro, small and medium enterprises (with an average loan of 4,000 euros).
Through this acquisition, SIDI consolidates its commitment to the development of inclusive finance in Africa and more particularly in the Sahel region. SIDI sees this as an opportunity to strengthen and diversify its activity in Burkina Faso where it is already working with 9 partners in various sectors such as inclusive finance or sustainable agricultural value chains. SIDI will therefore play an active role in the governance of ACEP Burkina in order to help ensure the promotion of social and environmental performance as well as the financial and operational viability of the company.
About Incofin CVSO
Incofin CVSO is a cooperative impact investment fund, open to retail investors, which invests in financial institutions in emerging countries through loans and equity investments. Incofin CVSO strives to achieve significant social added value. It aims to help enterprising people in emerging economies improve their own living conditions. The fund currently reaches 3.4 million entrepreneurs through 44 local partner organizations in 28 countries www.incofincvso.be/fr/
About Incofin IM
Incofin Investment Management (www.incofin.com) is a leading, AIFM-licensed, international impact investment firm focused on financial inclusion, agribusiness value chain and clean water, driven by the will to promote inclusive progress. Incofin IM is an AIFM approved fund manager and manages over €1 billion in assets. Incofin has a team of 80 professionals divided between its headquarters in Belgium and local investment teams in India, Colombia, Kenya and Cambodia. The investment in ACEP-Burkina was managed from Incofin’s regional office in Nairobi. www.incofin.com
About SIDI (International Solidarity for Development and Investment)
SIDI is a social investor created in 1983 by CCFD-Terre Solidaire to improve the living conditions of vulnerable populations in developing countries, by creating and strengthening income-generating activities at individual and community level. SIDI supports local actors, such as financial institutions and producer organizations, which serve populations excluded from traditional financial and economic circuits. It provides financial (equity investments, loans, guarantees) and non-financial support to strengthen institutions (governance, management, strategy, social performance, etc.). www.sidi.fr
About ACEP Burkina
ACEP Burkina began operations in 2012 and is one of the main players in the microfinance landscape in Burkina Faso funding over 20,000 micro-entrepreneurs through nine branches in five of the country’s largest cities. The company specializes in the financing of micro-enterprises and very small businesses existing in cities and near suburbs. The loans granted are mainly used to finance working capital and the necessary investments. www.groupacep.com
SIDI: Isabelle Brun – [email protected] – Tel: +33 6 74 59 62 40
Incofin Investment Management: Jorgen Muylaert – [email protected] – Tel: + 32 495 66 89 58