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About IPAE 1
I&P Afrique Entrepreneurs 1 (IPAE 1) is the second fund launched by I&P to support entrepreneurs seeking economic growth and societal impact.
It targets SMEs operating in Sub-Saharan Africa and the Indian Ocean whose financing needs are higher than the companies supported by IPDEV 1 and IPDEV 2, ranging from €300,000 to €1,5 million.
Click here to read more about IPAE's successor fund, IPAE 2
Key takeaways
⇒ 12 different countries, half of which are classified as Least Developed Countries.
⇒ The companies operate in a dozen different sectors (Food, Microfinance, Construction, Transport, Health, Services, IT, Energy...).
⇒ A combination of companies at different stages of growth, with around ¼ investing in start-ups and ¾ investing in companies in expansion phase.
⇒ IPAE1's partner companies are showing strong growth, both in turnover and number of employees.
⇒ The fund has fully exited 2 companies and has completed 8 partial exits or exits in progress.
IPAE 1's portfolio
IPAE 1's governance
IPAE 1 is governed by 3 bodies:
Every month the following professionals from the private equity and the development sectors meet to discuss on ongoing projects and investment decisions.
- Olivier Lafourcade, Consultant, former director at the World Bank
- Luc Rigouzzo, CEO of Améthis Finance, former CEO of Proparco
- Jean-Michel Severino, CEO of I&P and former CEO of AFD (2001-2010)
- François Wohrer, CEO of Compagnie Financière Degroof and former Senior Investment Officer at IFC
- Hervé Schricke, President "Club Afrique", AFIC
- Ann Katrin Dolium, Expert on ESG and CSR issues
- A member of the I&P team
Composed of representative of key investors of the fund, it meets at least twice a year to give another perspective on potential conflicts of interest and on the funds activities.
IPAE's investment team
Alioun Badara Sane
Anna Traoré
Ben Kouakou
Ben Kouakou
Ben Kouakou joined I&P in 2021 and is operating as Investment Director for the funds I&P Afrique Entrepreneurs (IPAE 1 and IPAE 2).
...
Faniry Razafimamonjy
Francis Owusu
Francis Owusu
Francis joined the team in 2018 and operates as Investment Director in the Accra office. He manages the activities of IPAE 1 and IPAE 2 in Ghana and Nigeria.
...
Kanto Fy Tsiky RAFA NY HERY
Mame Seynabou Ndiaye
Mialy Ranaivoson
Miora Maminjoary
Ny Andraina Andriamanantena
Oty Kévin Aie
Rasmey Chhun
Rasmey Chhun
Based in Dakar, Senegal, Rasmey holds the position of Investment Manager.
With over 7 years' experience in SME financing and the design of financial mechanisms dedicated to SMEs in...
Shino Grivel
Latest IPAE 1 News
 I&P publishes its Annual Impact ReportNews | 13/12/2022 I&P is pleased to present its Annual Impact Report, that presents the collective results of our different programs and funds. The report presents an overview of I&P's activities and impact methodology and goes through our six impact pillars : developing Africa entrepreneurship... |
 "Manifesto for the financing and support of entrepreneurship in Africa"News | 27/10/2022 As I&P celebrates its 20th year of activity, the team is pleased to present its "Manifesto for the financing and support of entrepreneurship in Africa. Based on 20 years of learning, entrepreneurial adventures, successes as well as failures and challenges, this manifesto aims to... |
 I&P presents the annual ESG Impact reports of the IPAE 1 and IPAE 2 fundsNews | 29/08/2022 2022 marks the twentieth anniversary since the creation of I&P. These 20 years of funding and advocating for African entrepreneurship have constantly strengthened our convictions about the importance of relying on a responsible private sector to contribute to Africa's development. The... |
 "Lead Campus - Sustainable Leadership In Africa'': Mialy Ranaivoson and Job Zongo complete their journeysNews | 08/07/2022 Mialy Ranaivoson and Job Zongo, respectively Investment Director of the IPAE fund and Managing Director of Sinergi Burkina, graduate with their "Lead Campus: sustainable leadership in Africa" 2022 executive certificates. The closing ceremony of this second class,... |
 Newsletter of April - May & Edito by Carole RAMELLANews | 10/05/2022 The April-May 2022 Newsletter is available! The newsletter notably contains: ⇒ An editorial signed by Carole Ramella, Managing Director of GFA Consulting and member of the IPAE 2 Investment Committy ⇒ A review of the latest IPAE 2 fund investments (HerI in Madagascar... |
 I&P exits Delta IrrigationEntrepreneurs | 31/03/2022 I&P, through its fund I&P Afrique Entrepreneurs 1 (IPAE 1), announces a new exit: the sale of its shares in the Senegalese company Delta Irrigation to CMGP, a strategic player in the irrigation sector, which shares the long-term vision of Delta Irrigation's promoter. Delta... |
 Impact investment in Madagascar: I&P completes its exit from UltramailleEntrepreneurs | 27/01/2022Since the first exit from the Mali based company CAMED in 2009, I&P has made 30 exits to date. We have published a summary note on our exit experience , recalling the key issues and looking back at some emblematic exits, including Ultramaille. Founded in 1998, Ultramaille... |
 I&P publishes its second global impact reportNews | 20/12/2021 Investisseurs & Partenaires publishes the second edition of its annual impact report, a summary of our impact mission and the most significant achievements and progress made in 2021. In a time period strongly marked by the Covid-19 crisis, I&P's teams have grown stronger, new... |
 Publication of ESG / Impact reports for IPAE 1 and IPAE 2 fundsNews | 18/08/2021 Each year, I&P produces an impact report to assess the progress of projects and analyze the environmental, social and governance (ESG) performance of our investments. The latest IPAE 1 and IPAE 2 reports are online: Read the IPAE 1 report Read the IPAE 2 report... |
 PEG Africa sponsored by USAID to bring electrification to off-grid health clinics in AfricaEntrepreneurs | 27/10/2020 PEG Africa is one of the 9 solar energy companies sponsored by USAID to provide reliable, affordable off-grid electricity to nearly 300 healthcare facilities in sub-Saharan Africa. PEG Africa aims to bring off-grid solar energy access to rural and peri-urban communities in West Africa... |