Uhuru Growth Fund I

In brief

Uhuru Growth Fund I is a mid-market private equity fund that will provide growth capital to mid-market companies across West Africa, focusing on Nigeria, Ghana, Cote d’Ivoire, Burkina, Faso, Mali, and Senegal. Uhuru Growth Fund I will invest in high-growth sectors, emphasising consumer-related sectors and financial services.

Main development impact

The Fund’s priority target consumer goods and financial services sectors typically have large development effects. The generalist fund financing growth-oriented companies are expected to create employment effects, local production, and tax revenues.

Investment details

Name: Uhuru Growth Fund I
Project number: 80000183
Region: Africa
Country: Nigeria, Ghana, Ivory Coast, Senegal, Burkina Faso
Sector: General fund
Signing date (month/year): March 2021
Currency: USD
Finnfund's financing (commitment): 10,000,000
Instrument: Fund
Status: Active

Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.

Companies financed by the fund

Name Sector Region Country
Phoenix Life Insurance Co Insurance Africa Ghana
Everyday Group Retail trade Africa Nigeria

Key facts

Name:

Uhuru Growth Fund I

Sector:

General fund

Region:

Africa

Country:

Nigeria, Ghana, Ivory Coast, Senegal, Burkina Faso

Currency:

USD

Finnfund's financing (commitment):

10,000,000

Signing date (month/year):

March 2021

Last update:

September 2021