November newsletter, with an editorial signed Mamadou Lamine LoumSubmitted by Admin on Tue, 11/08/2022 - 09:02
An editorial signed Mamadou Lamine Loum, a retrospective on the celebration of 20 years of I&P activity, the publication of the "Manifesto for the financing and support of entrepreneurship in Africa", news from our portfolio companies and our funds and programs... find the latest news from I&P in our newsletter n°39!
⇒ An edito signed by Mamadou Lamine Loum, Chairman of the Board of Directors of Teranga Capital (Senegal) since 2016 and Director of the IPAE1 Fund, Former Prime Minister of Senegal (1998 - 2000)
⇒ Publication of the "Manifesto for the financing and support of entrepreneurship in Africa", on the occasion of I&P's 20th anniversary
⇒ Last investments of the IP2E, IPAS, Sinergi Burkina and Miarakap programs.
Edito signed by Mamadou Lamine Loum
A Senegalese statesman, Mamadou Lamine Loum was Prime Minister of Senegal from 1998 to 2000. He has been Chairman of the Board of Teranga Capital since 2016 and is also an Administrator of the I&P Africa Entrepreneurs 1 Fund (IPAE 1).
Meeting the challenges of development!
Having been lucky enough to be a long-time partner of I&P and Teranga Capital, following their work very closely, it is without hesitation that I accepted to open this last newsletter for 2022, the year of I&P's 20th anniversary and Teranga Capital's 6th anniversary!
In just a few years, impact investing has come a long way to prove its contribution to the development of African economies, especially for African entrepreneurs and companies.
For its part, I&P has adopted and adapted a hand-on approach: private investment makes it possible to develop companies, improve their performance, generate profitability and, above all, generate a considerable and sustainable social and economic impact. To support and promote entrepreneurs, I&P mobilizes a full range of investment instruments in favor of development. This is what the I&P Afrique Entrepreneurs 1 and 2 funds have been doing for over 10 years.
It is precisely this mindset that has animated me in my role as Chairman of the Board of Directors of Teranga Capital in Senegal since its launch in 2016. Financing entrepreneurship champions is a great challenge that must be taken up by African investors and economic actors themselves. To do so, they must be able to rely on local African teams, anchored in their territories.
Financing entrepreneurship champions is a great challenge that must be taken up by African investors and economic actors themselves
At its creation, Teranga Capital was supported by several key players in the Senegalese economy: FONSIS, Sonatel, and other institutional and individual investors. Teranga Capital was the first fund to benefit from the legal status of a Private Equity Company in Senegal. Teranga Capital's pioneering activity has enabled us to initiate, accelerate and support the growth of dozens of (future) national champions in various sectors: ICT, access to energy, agribusiness, health, training...
All these companies are taking up the challenges of development, generating more inclusive, better distributed, and more diversified growth. Half of the leaders of these companies are women. These SMEs promote local products, skills, and know-how. They create qualified and formalized jobs, and indirectly provide a living for nearly 2000 people via their suppliers. They generate tax revenues as well as social welfare resources for the benefit of the State and society.
The example of Teranga Capital shows that the Senegalese economy knows how to work towards financing its heroes and that we are already preparing a better economy and better prospects for the future in the sense of further structuring our economy and the degree of transformation of its landscape by a denser and more dynamic fabric of SMEs and SMIs.
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