History
Advanced Finance & Investment Group (“AFIG Funds”) is a leading private equity fund management company founded in 2006 and making growth equity investments across diverse sectors in West, Central and East Africa. The Company has an investment philosophy anchored on funding and supporting local entrepreneurs as well as developing African companies into regional and global leaders. AFIG Funds is incorporated in Mauritius, with its main office in Dakar. AFIG Funds’ regional presence places it at the heart of its markets.
Today, AFIG Funds manages over USD 267 million of assets across two private equity funds. Our track record places us among the top performing African private equity fund managers. Through its world class investment team, AFIG Funds has invested in 16 companies operating across 13 countries.
The AFIG Funds team is comprised of experienced professionals based in Africa who collectively have over 100 years of collective African experience, come from 10 countries and speak 10 languages. The diversity allows AFIG Funds to benefit from local cultural integration, deep local networks, and an understanding of factors that influence local investment outcomes. Our team members have extensive finance, accounting, legal and operating experience, enabling the team to actively support senior portfolio company management with strategy execution and the realization of expansion plans. We are comfortable operating in both Anglophone and Francophone Africa
AFIG Funds’ LPs include some of the most active investors in African Private Equity: AfDB, Africa Re, CDC, DEG, EIB, Finnfund, IFC, Old Mutual, Pinebridge Investments, Swedfund, etc.
Our Funds
Atlantic Coast Regional Fund (“ACRF”)
Atlantic Coast Regional Fund (“ACRF” is a USD 122 million regional fund launched in 2008 to accelerate the growth of local champions. The Fund targets strong growth companies operating in 29 countries across West and Central Africa, preferably with a regional scope.
ACRF considers investments in all sectors, with a particular focus on industrial firms, financial institutions and companies investing in infrastructure and other related sectors. Target companies are mature and cash-flow generative companies operating in sectors with high entry barriers and/or enjoying market dominance. In addition, target companies exhibit a proven track record in terms of managerial competence, satisfactory and measurable performance and a solid business plan.
AFIG Fund II LP (“Fund II”)
AFIG Fund II is USD 135 million fund launched in 2016 to invest in African companies that have the potential to be regional “blue chips”. Fund II is sector agnostic and considers investments in various sectors including financial services, light industrials, FMCG, agribusiness, and more. AFIG Fund II covers 32 countries in West, Central, and East Africa. The investment ticket size ranges from USD 5 to 20 million.
Investment Strategy
Our investment strategy, in effect the practical application of our philosophy, relies on 3 pillars
Local Market
Local market presence, knowledge and relationships.
Strategic Partnership
Strategic partnerships designed to enhance deal-sourcing and maximize.
Broad Investing
The broad investing expertise and experience accumulated by the AFIG team.
Investment process
Our investment process is characterized by:
- A rigorous investment selection process.
- Early identification and close monitoring of the operational and business risks.
- Negotiation of favorable investment terms and conditions.
- Maximization and diversification of exit/liquidity options.
We generally combine a top-down investment strategy with a bottom up approach by starting with a careful analysis of regional and country economic and industry trends that make certain sectors attractive. Leveraging our local relationships, our team then analyzes the companies within those sectors to find the best potential investment candidates. The companies that we target have a strong local presence and significant opportunities for growth and value creation. The companies will also have capable and responsible management and a market advantage such as long-term contracts, strategic location, first-mover advantage, recognized market leadership, more advanced technology or a unique expertise.
Once a company is identified, we will perform extensive financial, technical, operational, legal and environmental due diligence to determine whether it meets our investment criteria. We will generally seek significant minority stakes and structure our investments to ensure strong shareholder rights, including board representation. We will work closely with our portfolio companies and have developed tools and partnerships to add value in ways ranging from analysis of strategic issues to recruiting senior management.
Read MoreOur People
The AFIG Funds Investment and Operations teams and its Advisory board are driven by a strong dedication to excellence. By combining international best practices with its wide expertise of the target region’s economic environment, and proven operational skills, they demonstrate a unique knowledge in private equity in Africa to achieve higher returns for AFIG’s investors.
Investment Team
Careers
The AFIG Funds staff is driven by a strong dedication to quality and excellence. Through ambitious training, internship, mentoring, and in-house training programs we are committed to make a difference in the African private equity and capital investment sectors. See below how you can join our team.
Please contact us at recrutement@afigfunds.com
Aminata DRAME
Master Degree ISM
It is within a dynamic team that we started this internship is a real springboard to identify and understand activities of an investment company such as AFIG Funds.
Aminata DRAME
Master Degree ISM
It is within a dynamic team that we started this internship is a real springboard to identify and understand activities of an investment company such as AFIG Funds.
Aminata DRAME
Master Degree ISM
It is within a dynamic team that we started this internship is a real springboard to identify and understand activities of an investment company such as AFIG Funds.
