Incofin sells its 20% equity stake in ACEP Burkina
After 13 years, Incofin cvso is no longer shareholder of ACEP Burkina. Incofin finalized the sale of the equity stake of 20%, which has enabled the fund to achieve an attractive return on investment. The shares have been acquired by the French impact investor SIDI (Solidarité Internationale pour le Développement et l’Investissement).
Incofin cvso has been ACEP’s investor from the very start of the company. Incofin played a key role by providing additionally senior debt and technical assistance. Furthermore, Incofin has led the efforts of professionalizing the corporate governance of the company and the rollout of ACEP Burkina’s successsful expansion.
Today, ACEP Burkina is the second-largest microfinance institution in Burkina Faso by portfolio size (Gross loan portfolio of EUR 41.7 million as of December 2021) and offers a broad range of financial solutions, including loans, deposit accounts, money transfer services to SMEs, institutions and net-worthy individuals. The company serves over 32,000 customers. ACEP’s main focus are micro, small and medium enterprises.
SIDI has a similar mission to that of Incofin cvso. The French impact investor, founded in 1983, also wants to improve living conditions in developing countries and, with this acquisition, particularly wants to further promote the development of financial inclusion in Africa. SIDI already works with nine other African partners from various sectors for this purpose.