Teranga Capital, an African impact fund sponsored by the IPDEV2* program, announces its complete exit from the Women's Initiative Support Center (CAIF) in December 2024. Based in Dakar, Senegal, CAIF is a dedicated school to creative professions such as culinary arts, fashion and crafts, aiming to train a new generation of professionals capable of transforming their sectors and promoting African creativity on an international scale. Icone Capital, an investment bank operating in sub-Saharan Africa and led by Sidy Niang, acted as exclusive financial advisor on this transaction.
Teranga Capital invested 88 million FCFA in CAIF in 2018 as part of a development project. During its investment, Teranga Capital contributed to the growth of the school, allowing the expansion of the site, the opening of new training courses and the strengthening of existing activities. Insa Dramé, Director General of CAIF, emphasizes that this transition opens a new chapter focused on innovation in training for creative professions and the transformation of the vocational training sector in Africa. Olivier Furdelle, Managing Director of Teranga Capital, says he is proud of his company's role in the development of the CAIF and convinced of its lasting impact, particularly in terms of women's empowerment and the professional integration of young people. Mohamed Ngom, investment director of Teranga Capital, adds that this exit allows Teranga Capital to reallocate its resources to support new initiatives in priority sectors.
Teranga Capital is an impact investment company focused on high-potential small and medium-sized businesses in West Africa. Its model is based on investments of up to 1 billion FCFA, active and personalized support for businesses and an investment horizon of five years. Its partners include Investors & Partners, the Sovereign Fund for Strategic Investments, SONATEL, ASKIA Assurances, Société Générale Sénégal, Africarena Ventures, as well as several Senegalese individual investors.
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The financial company I&P Development 2 (IPDEV 2), managed by Investisseurs & Partenaires, is an impact investor dedicated to African SMEs, which closed its fundraising in 2018 with a total capital of 21 million euros. With the support of several committed investors, including the African Development Bank and the Soros Economic Development Fund, IPDEV 2 will be able to continue its investment program: forming, sponsoring and inaugurating ten impact funds in ten African countries. The five IPDEV 2 funds are already operational in Burkina Faso, Ivory Coast, Madagascar, Niger and Senegal.
