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Incofin Investment sells its 20% stake in Acep Burkina to French Sidi

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(Agence Ecofin) – 13 years after its first investment in the microfinance structure Acep Burkina, the Belgian investment firm Incofin announces its departure, with “an attractive return on investment” released, and shares sold to the French investor Sidi.

The impact investment manager, Incofin Investment Management, recently announced the sale of its 20% stake held through its investment fund Incofin CVSO, to the capital of the microfinance institution Acep Burkina. Financial details of this transaction were not disclosed.

The Belgian Incofin will give way to the French investor Sidi (International Solidarity for Development and Investment) which will become the new minority shareholder of the second microfinance institution in Burkina Faso, due to the size of its loan portfolio (approximately 41.7 million euros in December 2021)

“Incofin CVSO has been an investor in Acep Burkina from the start of the company. Incofin played a key role in providing an additional senior loan, and microfinance technical assistance. In addition, Incofin has led efforts to professionalize corporate governance and roll out its expansion,” indicated the Belgian investment firm.

This sale comes 13 years after Incofin entered the capital of Acep Burkina. The institution specializing in the financing of micro-enterprises and very small enterprises had at that time accumulated 7 years of activity and exercise on the Burkinabè market.

Without giving figures, Incofin claims to have achieved “an attractive return on investment” following his withdrawal. The new shareholder sees this as an opportunity to strengthen and diversify its operations in Burkina Faso, a country in which it operates in various sectors ranging from finance to agricultural value chains.

While stepping up its operations in the financial sector in the Sahel region, Sidi intends “playing 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”. The French will join three other shareholders, namely: the investment fund I&P Afrique Entrepreneurs, the Belgian investment company for developing countries, BIO, and Acep International.

Chamberline MOKO

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