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I&P conducts every year an in-depth impact study on one of its portfolio's company. These studies give a great insight on the impacts of our partners on their stakeholders (employees, clients, contractors, local communities) and their environment.


Country: Cameroon
Fund: IPAE


Country: Burkina Faso
Fund: IPDEV2


Country: Madagascar
Fund: IPAE


Country: Madagascar
Fund: IPDEV1


Country: Cameroon
Fund: IPDEV1

Country: Cameroon
Fund: IPDEV1


L'Afrique dans la gouvernance économique et financière mondiale, Jean-Michel Severino et Pierrick Baraton, Novembre 2014, Rapport Moral sur l'Argent dans le Monde , Association d'Economie Financière

Développement : Que peut-on attendre de 2015 ?, Jean-Michel Severino et Mathilde Bouyé, Revue Projet, Janvier 2014

A New Economic Path For Subsaharan Countries Through Private Impact Equity - Jean-Michel Severino et Pierrick Baraton, Brookings Blum Roundtable, Août 2013

Le Grand Boom Economique de l'Afrique - Jean-Michel Severino et Emilie Debled, Project Syndicate, Octobre 2012



Le Grand basculement, Jean-Michel Severino et Olivier Ray - Octobre 2011 - Editions Odile Jacob

Le Temps de l’Afrique, Jean-Michel Severino et Olivier Ray - Septembre 2011 - Editions Odile Jacob

Le Guide de la microfinance, Sébastien Boyé, Jérémy Hajdenberg, Christine Poursat, David Munnich - Octobre 2009 - Editions Eyrolles

Advocacy Projects

Study: Impact Investment and the Sustainable Development Goals


Investisseurs & Partenaires (I&P) and the Foundation for International Development Study and Research (FERDI) publish a study on impact investment in Africa, entitled “Investing in Africa’s development: how impact can contribute to meeting the Sustainable Development Goals (SDGs) in Africa”. According to the study, impact investment offers a wide range of growth opportunities and represents an innovative and efficient answer to the development challenges of the continent.

Download the Study

Read the Executive Summary


"As part of this agenda, the UN put out a strong call to action for the private sector to play a fundamental role in achieving these goals. Indeed, the SDGs cannot be achieved without the active involvement of responsible businesses. The private sector will be essential in creating sustainable, productive and decent employment, economic prosperity, resilient infrastructure that underpins sustainable development and innovations that create green growth and opportunities for all, especially the poor. Impact investors can be at the forefront of addressing this challenge"

The study presents:

► The main characteristics of impact investors, and how they can contribute to solve development challenges

The landscape of impact investment in Africa: 19% of total assets under management in 2015 has been disbursed in Sub-Saharan Africa (the second largest amount worldwide, behind North America), but a very limited number of countries and sectors benefitted from it

How Impact Investment can contribute to meeting the SDGs in Africa, grouped into 8 main “SDG investment areas” where the private sector can play a key role: 1) Fighting poverty and inequalities, 2) Agriculture, Nutrition and Food Security, 3) Healthcare, Water and Sanitation, 4) Education, 5) Energy Access, 6) Infrastructure and Innovation, 7) Sustainable cities and 8) Environment and Biodiversity


Read more on our ongoing projects
Handbook: Investing in Africa's SGBs

Investisseurs & Partenaires published the handbook "Investing in Africa's Small and Growing Businesses", a new tool to foster the development of early-stage SME investment in Africa and encourage the rise of new investors on the continent.


The lessons learned by 6 investors that have collectively invested several hundred million euros in African SGBs

The testimonials of 10 African entrepreneurs who share their feedbacks about their partnerships with investors

The methodology of equity investment to target small and medium-sized enterprises explained in 11 key points

A roadmap in 7 steps to launch an investment vehicle targeting African SGBs

Designed in partnership with Ernst & Young, the Aspen Network of Development Entrepreneurs and INSEAD Business Schools, and funded by The Rockefeller Foundation and The Tony Elumelu Foundation, the handbook is intended for investors, entrepreneurs and anyone interested in the field of SME financing in Africa.


As stated by Jean-Michel Severino, "the primary objective of this handbook is to provide an operative document for the future investment companies of the continent"


The Handbook is available in free access on:

Small is Powerful

Initiated by the photographer Joan Bardeletti and Investisseurs & Partenaires, "Small is Powerful" aims to show a new facet of the African continent and to demonstrate the key role played by the small and medium-size enterprises for the development of the continent.

The project follows five SMEs, operating across the continent in various sectors: Agrisatch, a local producer of good-quality eggs in Benin, Centrale du Solaire (CDS) in Mauritania, which provides access to water and electricity in rural area, the Senegalese clinic NEST, dedicated to the care of woman and child, Indian Ocean Trepang (IOT), specialized in the breeding of sea cucumbers in Madagascar and Wecyclers in Nigeria, which provides an innovative recycling service in Lagos.


As an analytical and visual project, Small is Powerful gathers impact studies and on-site reportages. The project focuses on the entrepreneurs and office life, but also assesses the impacts these enterprises have on their environment and their stakeholders (job creation, infrastructure, improvement of living conditions…)

Before each reportage, there is extensive preparatory work with the SMEs, filling in an impact assessment matrix specifically drawn up by the project team and based on EU recommendations in the domain. The study questions the impacts of the company on its ecosystem (employees, clients, suppliers, local communities…). The contents of the matrix constitute a check-list which then guides the visual production (photo and video) during a 10-day reportage on-site.