Investisseurs & Partenaires

Investisseurs & Partenaires (I&P) is a Paris-based impact investment group, established in 2002, focusing on African Small and Medium Enterprises (SMEs). With a team of approximately forty professionals across Paris and seven African offices, I&P provides long-term financing, strategic, managerial, and technical support to SMEs, fostering local value creation and job generation. Since inception, I&P has invested in over 90 companies across 16 African countries and various sectors, generating significant social, environmental, and governance impact. The group manages four pan-African funds totaling €135 million and sponsors five African impact funds, demonstrating its commitment to African development through impact investing.

Nouss Bih

Investment Manager

Sébastien Boyé

Chief Investment Officer and Executive

Jérémy Hajdenberg

Co-CEO and Member of the Executive Board

Past deals in West Africa

Lapaire

Venture Round in 2024
Lapaire Glasses Kenya Ltd. is a manufacturer and retailer of eyewear products, including prescription glasses and sunglasses, aimed at making eye care accessible and affordable for the lower and middle-income populations in Africa. Founded in 2018 and headquartered in Nairobi, Kenya, the company utilizes innovative technology to provide free vision tests and a range of eyewear options to the estimated 550 million Africans in need of corrective lenses. Lapaire operates an online shop and offers accommodating services such as 24/7 online chat, mobile clinics for free vision testing, free delivery, and flexible payment plans. In addition to its operations in Kenya, Lapaire serves customers in Uganda, Ivory Coast, Burkina Faso, and Mali, with a commitment to improving eye health and vision across the continent.

Afrikamart

Seed Round in 2022
Afrikamart is a West African distribution platform focused on fresh produce, serving as a vital link between producers and customers, including retailers, hotels, and restaurants. The company utilizes digital technology and its expertise in the food value chain to facilitate effective communication regarding pricing, product availability, and market forecasts. Afrikamart organizes comprehensive logistics through a network of transporters, ensuring efficient financial and product flows tailored to various purchasing and payment terms. By leveraging artificial intelligence and innovative algorithms, Afrikamart enhances the efficiency, accessibility, and profitability of agribusiness, enabling farmers to engage in fair trade practices. Additionally, the company is committed to empowering underprivileged women and young people, creating economic opportunities while addressing inefficiencies within the food value chain in West Africa.

Zeepay

Series A in 2021
Zeepay Ghana Limited is a Ghanaian-owned mobile financial services company that specializes in integrated mobile payment solutions. Headquartered in Accra, Ghana, Zeepay offers a mobile money payment application that facilitates various financial transactions, including mobile money payments, bill payments, airtime top-ups, instant domestic money transfers, and international remittances. The company aims to serve both unbanked and banked populations by providing easy access to financial services and enhancing payment and collection processes. Zeepay operates as an aggregator, consolidating transactions from various players on a single platform and supporting the integration of different payment systems, including banks, merchants, and mobile network operators. Its platform is built on open-source technology, enabling seamless connectivity between mobile wallets, bank accounts, and other financial assets. Additionally, Zeepay offers services such as cash-in and cash-out, peer-to-peer payments, as well as loyalty and campaign management solutions.

XpressGas

Venture Round in 2021
Xpress Gas Limited is a company based in Tema, Ghana, specializing in the marketing and distribution of liquefied petroleum (LP) gas. It serves a diverse clientele, including industries, public institutions, and commercial consumers, offering services through a network of refilling stations, consumer service stations, and cylinder depots. Xpress Gas also provides operational management for mini-refilling plants and bulk transportation services for oil marketing companies and allied mini-refilling stations. The company operates a fleet of bulk haulage trucks, including bobtails and semi-trailers, to facilitate efficient gas distribution. With a focus on providing environmentally friendly alternatives to traditional wood fuel, Xpress Gas aims to ensure that households and businesses have ready access to clean gas solutions across Ghana.

New Crystal

Venture Round in 2020
New Crystal Group Limited is a healthcare provider based in Ashaiman, Ghana, established in 2003. The company focuses on delivering affordable and reliable health care services to the urban poor, serving over 250,000 clients annually. Its comprehensive range of services includes laboratory and diagnostic care, pharmacy, obstetrics and gynecology, emergency care, prosthetics, maternity services, offshore medical fitness certification, orthotics and bracing, ENT, physiotherapy, dietetics, pediatrics, family practice, dental care, ambulance services, and clinical psychology. New Crystal has positioned itself as a national leader in the healthcare sector, addressing the diverse needs of clients and their families.

Rensource

Venture Round in 2020
Rensource Inc, established in 2015 and headquartered in Lagos, Nigeria, is a unique energy company operating as a financial services business. It offers subscription-based solar power services to consumers and small businesses, generating electricity through small solar-hybrid systems installed on customers' premises. Rensource provides tailored plans such as Go, Eco, Duplo, and Pro, catering to diverse energy needs. Central to its operations is an internal 'bank' that finances these systems and manages credit operations, underwriting and servicing monthly collections from final customers. Rensource's mission is to transition Nigeria towards predominantly distributed, renewables-based power generation.

PEG

Series C in 2019
PEG is an asset financing company based in Accra, Ghana, that specializes in providing affordable solar energy solutions to off-grid households in West Africa. Founded in 2013 by Hugh Whalan and Nate Heller, PEG offers a Pay As You Go financing model that enables customers to acquire solar home systems, which enhance their quality of life by providing reliable lighting, mobile phone charging, and access to appliances like radios and televisions. By facilitating the transition from traditional, polluting fuels such as kerosene to sustainable solar energy, PEG empowers its customers to invest in clean technology while reducing their ongoing energy costs. The company's operations extend to countries including Ghana, Côte d'Ivoire, and Senegal, where it addresses the energy needs of underserved communities.

PEG

Series C in 2019
PEG is an asset financing company based in Accra, Ghana, that specializes in providing affordable solar energy solutions to off-grid households in West Africa. Founded in 2013 by Hugh Whalan and Nate Heller, PEG offers a Pay As You Go financing model that enables customers to acquire solar home systems, which enhance their quality of life by providing reliable lighting, mobile phone charging, and access to appliances like radios and televisions. By facilitating the transition from traditional, polluting fuels such as kerosene to sustainable solar energy, PEG empowers its customers to invest in clean technology while reducing their ongoing energy costs. The company's operations extend to countries including Ghana, Côte d'Ivoire, and Senegal, where it addresses the energy needs of underserved communities.

Golden Nuts and Grain

Venture Round in 2018
Golden Nuts and Grain, established in Senegal, is a specialized food processing company. It produces natural juices using locally sourced ingredients like bouye, bissap, and ginger. The company's focus is on creating healthy, delicious beverages that preserve the authentic tastes of Senegalese products while promoting consumers' well-being.

CoinAfrique

Corporate Round in 2018
CoinAfrique is a Senegalese startup founded in 2014 with additional offices in Benin, Ivory Coast, and France. It operates a mobile application for classified advertisements, primarily serving Francophone Africa. The platform facilitates the buying and selling of second-hand goods, connecting users to make quality deals through their phones.

CoinAfrique

Series A in 2018
CoinAfrique is a Senegalese startup founded in 2014 with additional offices in Benin, Ivory Coast, and France. It operates a mobile application for classified advertisements, primarily serving Francophone Africa. The platform facilitates the buying and selling of second-hand goods, connecting users to make quality deals through their phones.

PEG

Series B in 2017
PEG is an asset financing company based in Accra, Ghana, that specializes in providing affordable solar energy solutions to off-grid households in West Africa. Founded in 2013 by Hugh Whalan and Nate Heller, PEG offers a Pay As You Go financing model that enables customers to acquire solar home systems, which enhance their quality of life by providing reliable lighting, mobile phone charging, and access to appliances like radios and televisions. By facilitating the transition from traditional, polluting fuels such as kerosene to sustainable solar energy, PEG empowers its customers to invest in clean technology while reducing their ongoing energy costs. The company's operations extend to countries including Ghana, Côte d'Ivoire, and Senegal, where it addresses the energy needs of underserved communities.

Oui Carry

Seed Round in 2017
OuiCarry is a delivery service based in Senegal that facilitates the purchasing of products from international commercial websites for both individuals and businesses. Customers have the flexibility to select items from a wide range of online retailers, and for those lacking credit cards, OuiCarry offers to make purchases on their behalf. The company prides itself on delivering high-quality services at moderate costs, with expeditions from Europe typically taking less than ten days. Since its inception, OuiCarry has grown its customer base to several thousand and has received recognition for its services, including the Orange FAB prize in 2016 and a finalist position in the Great Entrepreneur Competition organized by the British Council. Alongside its core delivery services, OuiCarry also provides logistics solutions that simplify the export and import of goods, including customs clearance and storage, ensuring efficient transportation without prolonged waiting times for approvals.

SENAR Les Délices de Lysa

Venture Round in 2017
SENAR (SENégal Peanut) is a Senegalese family SME located in Dakar specialized in the processing and sale of nut products.

COGELEC ENERGY

Venture Round in 2017
COGELEC ENERGY is an engineering firm based in Senegal that focuses on electrical work and rural electrification. The company provides a range of services, including the supply, installation, and maintenance of electrical and hydraulic equipment. COGELEC ENERGY aims to serve commercial clients by facilitating the construction of conventional grid connections, ensuring that these services are delivered at an affordable cost. Through its efforts, the company contributes to improving access to electricity in rural areas, enhancing the overall infrastructure and quality of life for local communities.

Malian Laundry Society

Venture Round in 2017
Malian Laundry Company is a Malian company providing a complete linen maintenance service for hotels in Bamako.The company collects, cleans and delivers flat linen for its customers (bed linen, aprons, sponges, table linen, bath towels, etc.). The company has solid references and counts among its customers the largest hotels in Bamako, notably Azalaï, Radisson and El Farouk.

PEG

Series A in 2016
PEG is an asset financing company based in Accra, Ghana, that specializes in providing affordable solar energy solutions to off-grid households in West Africa. Founded in 2013 by Hugh Whalan and Nate Heller, PEG offers a Pay As You Go financing model that enables customers to acquire solar home systems, which enhance their quality of life by providing reliable lighting, mobile phone charging, and access to appliances like radios and televisions. By facilitating the transition from traditional, polluting fuels such as kerosene to sustainable solar energy, PEG empowers its customers to invest in clean technology while reducing their ongoing energy costs. The company's operations extend to countries including Ghana, Côte d'Ivoire, and Senegal, where it addresses the energy needs of underserved communities.

PEG

Series A in 2016
PEG is an asset financing company based in Accra, Ghana, that specializes in providing affordable solar energy solutions to off-grid households in West Africa. Founded in 2013 by Hugh Whalan and Nate Heller, PEG offers a Pay As You Go financing model that enables customers to acquire solar home systems, which enhance their quality of life by providing reliable lighting, mobile phone charging, and access to appliances like radios and televisions. By facilitating the transition from traditional, polluting fuels such as kerosene to sustainable solar energy, PEG empowers its customers to invest in clean technology while reducing their ongoing energy costs. The company's operations extend to countries including Ghana, Côte d'Ivoire, and Senegal, where it addresses the energy needs of underserved communities.

Careers and Lime of Mali (CCM)

Venture Round in 2016
Careers and Lime of Mali (CCM) is a Malian company specialized in the production and marketing of quick lime and agricultural lime.

Tincy Boulangerie

Private Equity Round in 2015
Tincy Boulangerie is an industrial bakery that produces and distributes bread to consumers in Cotonou. It distributes its product through a shop, a network of 24 kiosks, more than 50 shopkeepers and professionals from hostelry and restauration sectors. The bakery is launched in 2009. Initially conceived as a simple marketing exercise, the project proved to be a real success. In 2010, the turnover of the bakery exceeded the one of the consulting firm. Gatien Adjaboni is deeply involved in this new activity and has notably launched the National Association of Bakers of Benin, which gathers a dozen of professionals and represents to this day the only union in the sector.

Eden Tree

Venture Round in 2015
Eden Tree is a producer and distributor of high-quality fresh vegetables, fruits, and herbs based in Ghana. The company is dedicated to promoting healthy eating habits among the Ghanaian population by offering a diverse range of products, including cabbage, capsicum, and broccoli, alongside various spices. Eden Tree focuses on hygienic packaging and efficient distribution to ensure that consumers have access to fresh and safely packaged food items at competitive prices. Through its commitment to quality and health, Eden Tree aims to enhance the nutritional standards of its community.

PEG

Venture Round in 2015
PEG is an asset financing company based in Accra, Ghana, that specializes in providing affordable solar energy solutions to off-grid households in West Africa. Founded in 2013 by Hugh Whalan and Nate Heller, PEG offers a Pay As You Go financing model that enables customers to acquire solar home systems, which enhance their quality of life by providing reliable lighting, mobile phone charging, and access to appliances like radios and televisions. By facilitating the transition from traditional, polluting fuels such as kerosene to sustainable solar energy, PEG empowers its customers to invest in clean technology while reducing their ongoing energy costs. The company's operations extend to countries including Ghana, Côte d'Ivoire, and Senegal, where it addresses the energy needs of underserved communities.

Voltacars Rental Services

Venture Round in 2014
Voltacars Rental Services Limited is a vehicle rental company founded in 2003 and headquartered in Accra, Ghana. It specializes in long-term rentals of new multi-brand vehicles, including sedans, 4x4s, pick-up trucks, minibuses, small trucks, and utility vehicles, primarily catering to businesses in Ghana, Ivory Coast, and Senegal. The company offers a comprehensive management service for its clients' fleets, which includes all-risk insurance, maintenance, and technical control throughout the rental period, which ranges from 12 to 48 months. Additionally, Voltacars provides a replacement vehicle during maintenance or in the event of an accident, as well as 24/7 telephone support. The company also offers associated services such as drivers, a tracking system, and pan-African insurance, ensuring a premium and customized experience for its clients.

Acep Burkina

Venture Round in 2013
ACEP Burkina is a MFI specialized in the financing of micro companies and very small enterprises existing in towns and close suburbs. Granted credits are mainly used to finance required working capital and investments. I&P and ACEP International which are old partners have decided to partner in 2008 to try to start a microfinance institution like ACEP in the country. In spite of a preexisting important mutual fund present in town zone, small entrepreneurs remain hardly linked to microfinance. Besides, it does not exist for the moment in Burkina Faso, a microfinance institution specialized in individual credit with an effective and appropriate technique of credit risk analysis towards very small companies. Financings trough subventions have been secured from the French Agency of Development then an agreement has been obtained from the ministry of finances in June 2012. The microfinance institution has started its activities in October 2012.

Bakou Logistics

Venture Round in 2013
Bakou Logistics S.A. is a logistics service provider based in Bobo-Dioulasso, Burkina Faso, specializing in the West African market. Established in 2006, the company offers a comprehensive range of transport and logistics solutions, including cargo transportation, fleet management, warehousing, and supply chain services. Bakou Logistics focuses on delivering customer-specific logistics tailored to meet the unique needs of its clients, ensuring efficient transportation and distribution. The company emphasizes quality, safety, and durability in its services, supported by advanced technology such as geolocation for tracking trucks and goods. With a commitment to flexibility and responsiveness, Bakou Logistics aims to optimize transport and supply management, enabling businesses to achieve their operational objectives while ensuring prompt delivery and minimal loss rates.

Conergies Group

Venture Round in 2012
Conergies Group specializes in designing, engineering, installing, and maintaining air conditioning and industrial cooling systems, with a strong focus on energy efficiency and environmental sustainability. The company serves residential, commercial, and industrial markets in West Africa, offering products such as split inverters, building automation systems with remote monitoring, and air conditioning units. Additionally, Conergies Group provides integrated irrigation solar pumping systems and related spare parts. With over 30 years of operational experience in the region, the company is committed to professionalism, quality service, and ethical conduct, ensuring compliance with local laws and regulations.

Sofamac

Venture Round in 2012
Sofamac SA is a manufacturing company based in Dakar, Senegal, specializing in the production of terracotta tiles and clay bricks. Founded in 2012, Sofamac focuses on creating high-quality clay construction materials for the local market. The company's commitment to producing durable and aesthetically pleasing building products supports the growing construction industry in Senegal. Through its operations, Sofamac contributes to the development of local infrastructure and housing, meeting the demands of both residential and commercial projects.

Delta Irrigation

Venture Round in 2012
Delta Irrigation SA, founded in 2012 and located in Saint-Louis, Senegal, specializes in the design, manufacture, and marketing of hydraulic systems and equipment tailored for the agriculture sector. The company's offerings include a range of products such as pumps, filters, pivot systems, sprinklers, and other tools essential for efficient field irrigation and water treatment. In addition to manufacturing, Delta Irrigation provides installation and maintenance services, as well as education to clients, ensuring the effective and sustainable use of water resources in agricultural practices.

CDS

Venture Round in 2011
Established in 1980, CDS is a corporate citizen that works for everyone's access to water and electricity services. CDS offers optimized solutions via renewable energy, from the stand-alone kit to custom hybrid systems. Through effective collaboration with its partners and customers, and constant concern for the quality and viability of installed systems, CDS carries out sustainable projects. Leader in solar energy in Mauritania, it works on three complementary activities: Delegation of public services in rural areas Supply and installation of solar kits for access to water and electricity for household and collective use Implementation and follow-up of works

Fides Microfinance Senegal

Venture Round in 2011
Fides Microfinance Senegal is a microfinance institution dedicated to delivering financial services to both urban and rural populations, with a particular focus on northern Senegal. Based in St. Louis, the company offers solidarity and individual loans, savings accounts, insurance, and mobile banking services. Fides has established offices in Luga and Touba, with plans to open new agencies annually in the northern region, where financial services are less prevalent than in Dakar. The institution specializes in supporting micro-entrepreneurs and small agricultural businesses by providing financing for equipment such as motor pumps and irrigation systems. Fides Microfinance Senegal benefits from the expertise of FIDES consultants in developing microfinance operations in rural areas.

Duopharm

Venture Round in 2010
Duopharm, established in 2003 as a result of a merger involving nearly 150 Senegalese pharmacists, has emerged as a significant player in the Senegalese pharmaceutical sector. The company specializes in the distribution of pharmaceutical products to private pharmacies and drugstores across Senegal. It employs a proximity marketing strategy, which has enhanced its visibility and effectiveness in a highly competitive market dominated by European multinational corporations. With the pharmaceutical market in Senegal experiencing robust growth—evidenced by a doubling of drugstores since 1999 and an annual market increase of approximately 6%—Duopharm capitalizes on this expansion by promoting its products through mobile and online channels, thereby adapting to the evolving landscape of healthcare spending in the country.

CAT Logistics Niger

Venture Round in 2010
CAT LOGISTICS performs customs clearance and freight transport. The company manages goods and shipping from their arrival in one of the sub-regional ports directly to the client. It has subsidiaries in the three coastal countries of the region: Cotonou in Benin, Tema in Ghana and Lome in Togo. CAT LOGISTICS has experienced very rapid growth in business volume since 2008, supported by major contracts including AREVA and the World Food Program (WFP). It operates in a particularly buoyant market with oil and mining large-scale investments. It is the only Nigerian-founded company of this size that remains independent from international firms. In 2013-2014, CAT partnered with the UN for the peace keeping mission in Mali. The company loaded equipment, vehicles and over goods from Abidjan port in Ivory Coast to the Niger River and Gao in Mali.

Nomad

Venture Round in 2009
NoMAD (Le Nouveau Modèle Africain de Distribution), imports goods and offers a wholesale self-service to professionals in Benin. Nomad is now the main provider for traditional groceries and local minimarkets. In 2008, Nomad signed a master-franchise agreement with the French distribution group Casino. Since then, it undertakes the brand implementation in local stores in Benin. Nomad found its place in a market shared between family monopoles destined to the upper-class and the expatriates on one hand and informal corner shops on the other.

Carotech Bénin

Venture Round in 2009
CAROTECH Benin produces outside tiles, pavement blocks and other construction cement-based inputs. These are processed without any thermal energy. Carotech’s sector of activity is lifted by a swelling urban expansion in Benin and various state programs to renovate public infrastructures. The products are addressed to a diversified clientele: individuals, public collectivities, private companies.

Colaser

Venture Round in 2007
Colaser is an ophthalmologic clinic based in Senegal that serves a diverse clientele, including individuals, employees under healthcare programs, retirees, middle-class citizens, and foreign patients. Established with a commitment to quality care, the clinic has maintained steady growth since its inception, conducting approximately 10,000 consultations and 1,400 medical procedures annually. Among these procedures, it specializes in 110 retinal detachments and an equal number of refractive eye surgeries. Colaser has emerged as a leading ophthalmologic center in West Africa, renowned for its advanced equipment and expertise. It provides essential medical services that reduce the need for patients to travel to Europe for diagnostics and treatment, establishing itself as a benchmark for ophthalmological clinics in the region and attracting patients from neighboring countries.

Saphar

Venture Round in 2006
Saphar, a Nigerian company established in 1999, is the third largest pharmaceutical distributor in the country, after two subsidiaries of international groups. The company supplies the rural and public hospitals in Niger with generics. The project initially aimed to improve the offer in these underserved areas.

Acep Cameroun

Venture Round in 2005
ACEP Cameroun S.A. is a microfinance institution founded in 1999 and based in Douala, Cameroon. Established with the support of the European Union and the Agence Française de Développement, it initially operated as a project under the Ministry of Industrial and Commercial Development before becoming a public limited company in 2005. As the first institution in Francophone Africa to undergo this transformation, ACEP Cameroun focuses on providing microcredit to very small enterprises, public and private officials, retirees, and employees. The institution also serves individuals, business groups, and rural enterprises, primarily in urban areas such as Douala, Yaoundé, and Bafoussam. ACEP Cameroun is part of the ACEP International network, which includes subsidiaries in Senegal and Madagascar, applying proven methods and technologies developed by ACEP Développement across its operations.
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