Adenia Capital IV

Subsidy : January 2023

BIO has granted EUR 150,000 to the technical assistance facility of Adenia Capital IV, a PE fund focused on Sub-Saharan Africa

Amount

€ 150,000.00

Type of investment

Subsidy

Beneficiary locations

Sub-Saharan Africa: Benin, Burkina Faso, Burundi, Cameroon, Côte d'Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda

Investment field

Investment Companies & Funds

Activity

KK.64.300 SME Fund

Organisation

Adenia Capital IV

Domicile

Mauritius

More investments in

Adenia Capital IV

  • Equity € 9,000,000.00 (2016)

One of the key pillars of Adenia’s strategy lies in its capacity to positively and sustainably transform businesses, by “institutionalising” SMEs through different initiatives that enhance operational performances, build internal capabilities, mitigate risks and foster resilience. The use of technical assistance (TA) enables to address the limitations faced by companies that do not have the necessary internal human resources or/and the technical expertise to carry out the structural projects through which Adenia supports its investees’ institutionalization process; therefrom, naturally helping to accelerate the transformation of businesses. The deployment of TA funds to portfolio companies is of particular importance given Adenia's investment strategy, as it is one of the levers enabling the radical transformations targeted during the Fund’s value creation phase.

With the support of previous TAF contributions, Adenia has implemented projects in diverse areas for its investees to date; from the improvement of gender diversity and inclusion, to climate resilience, to ESG.

Technical assistance

The technical assistance facility will enable organisational, managerial, and financial improvements and support the delivery of positive impact to investee companies of the Fund, by:

  • Improving internal Social, Environmental and Governance (ESG) practices ;
  • Improving operational and business development performance ;
  • Improving gender inclusion; and
  • Promoting climate change mitigation.

Expected impact

The expected impact of the TAF, through the funding of specific TA missions at the investee level, is to leverage Adenia’s impact on its portfolio companies by promoting sustainable business practices and facilitating organisational, financial, and management improvements aimed at further institutionalising the SMEs in its portfolio, thereby also increasing the companies’ value.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

Kanu Equipment

Kanu Equipment is a pan-African distributor of earthmoving, mining, agriculture and construction heavy equipment. As one of the largest dealers for Liebherr and Bell Equipment in East, West and Southern Africa, Kanu has spare parts distribution centres across the continent.

Red Lands Roses

Kenya

Agribusiness

Tumaini

Kenya

Newpack

Madagascar

Newpack is the leader in corrugated cardboard packaging in Madagascar. With annual production of over 15 million square meters (10,000 tons), Newpack is also the largest cardboard producer in the islands of the south west of the Indian Ocean.

Quick Mart

Kenya

Consumer retail

Africa Biosystems

Kenya

Medical equipment distribution

Herholdt's

South Africa

Renewable energy

Eastcastle Infrastructure

Côte d'Ivoire, Democratic Republic of Congo, Nigeria

Telco Towers

Overseas Catering Services - OCS

Morocco, Côte d'Ivoire, Senegal

A leading corporate catering and related services provider in Africa and the Middle East

View more of our investments in this region

Electrical Controls and Switchgear Ltd.

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Electrical Controls and Switchgear Ltd.

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  Uganda

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TowerCo of Africa

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TowerCo of Africa

12,000,000.00

  Uganda

  09/01/2024

  Debt

SIMA Commercial & Industrial Solar Green Bond

Investment Companies & Funds

SIMA Commercial & Industrial Solar Green Bond

10,000,000.00

  Kenya, Nigeria, South Africa

  29/12/2023

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ACEP Group

Financial Institutions

ACEP Group

 4,824.00

  Niger

  28/11/2023

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Alterfin

Investment Companies & Funds

Alterfin

5,000,000.00

  23/10/2023

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EA Foods Ltd

Enterprises

EA Foods Ltd

 10,448.00

  Tanzania

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Poa! Internet

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Poa! Internet

13,543.00

  Kenya

  24/08/2023

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Gebana Burkina Faso

Enterprises

Gebana Burkina Faso

 3,000,000.00

  Burkina Faso

  20/07/2023

  Debt

ASA Tanzania

Financial Institutions

ASA Tanzania

7,000,000.00

  Tanzania

  19/07/2023

  Debt