AFIG FUNDS

On November 20, I had the privilege of participating in AVCA - The African Private Capital Association’s inaugural Francophone Africa Briefing in Dakar. As a board member of AVCA, kudos to the management team and the event’s sponsor for delivering such a well-organized and impactful gathering. A special thanks to Alfonso Campo and Aurore Sokpoh for their exceptional leadership in running the event seamlessly. It was a privilege to see private capital leaders come together to discuss the unique opportunities in Francophone Africa and chart a path forward for the region. During the panel discussion on “Unpacking the Macro – Opportunities and Challenges of Allocating in Francophone Africa,” I had the opportunity to share insights on macroeconomic opportunities across Francophone Africa. I emphasized the following points: 🔹 Countries primed for growth: I spoke about the leading Francophone economies, with an emphasis on Senegal, which are paving the way for economic development. These economies are supported by a young, dynamic population, increasing infrastructure investments, and economic reforms. 🔹 Comparing Francophone and Anglophone markets: While entrepreneurs across Africa face common challenges, the legal frameworks (e.g., OHADA law), monetary systems (e.g., the CFA franc vs. local currencies), and levels of regional economic integration present distinct opportunities and complexities. I compared AFIG Funds’ investment experience in both regions and concluded that Francophone countries should maximize their legal and economic integration. I particularly enjoyed the other event panel (an all-women panel, no less!), which focused on “The State of Venture Capital in Senegal.” The region is rapidly emerging as a hub for innovation and opportunity, with a wealth of untapped potential. By working collaboratively, private capital, VC as well as PE, has the power to drive sustainable development and economic transformation. Thank you to my co-panelists, Coumba Sarr and Arnaud Wernert, our moderator Mouhamed KEBE, my AFIG Funds colleagues who attended (yes, that's all of us in the picture! 😊), and everyone who joined for this milestone event. I left the event deeply encouraged about the future of alternative investments in Francophone Africa. I look forward to seeing how we continue to build on this momentum! Abi Mustapha-Maduakor, CA, MBA Nadia Kouassi Coulibaly

Ce jeudi 20 novembre, j'ai eu le privilège de participer au tout premier Francophone Africa Briefing organisé par AVCA - The African Private Capital Association à Dakar. En tant que membre du conseil d'administration d'AVCA, je tiens à féliciter l'équipe de direction et le sponsor de l'événement pour avoir organisé un rassemblement aussi bien structuré et impactant. Un grand merci à Alfonso Campo et Aurore Sokpoh pour leur leadership exceptionnel et leur gestion impeccable de l'événement.    Ce fut un honneur de voir les leaders du capital-investissement se réunir pour discuter des opportunités uniques qu'offre l'Afrique francophone et tracer une voie prometteuse pour la région.  Lors de la table ronde intitulée « Explorer l'environnement macroéconomique : opportunités et défis liés à l’investissement en Afrique francophone », j'ai eu l'occasion de partager des idées sur les opportunités macroéconomiques dans cette région. J'ai mis l'accent sur les points suivants :   🔸 Marchés porteurs : J'ai évoqué les économies phares de l'Afrique francophone, avec un accent particulier sur le Sénégal, qui ouvrent la voie au développement économique. Ces économies bénéficient d'une population jeune et dynamique, d'investissements croissants dans les infrastructures et de réformes économiques.   🔸 Comparaison entre les marchés francophones et anglophones : Bien que les entrepreneurs africains soient confrontés à des défis communs, les cadres juridiques (par exemple, le droit OHADA), les systèmes monétaires (comme le franc CFA vs les devises locales) et les niveaux d'intégration économique régionale offrent des opportunités et des complexités spécifiques. J'ai comparé l'expérience d'investissement d'AFIG FUNDS dans les deux régions et conclu que les pays francophones devraient maximiser leur intégration juridique et économique.  J'ai particulièrement apprécié l'autre table ronde de l'événement (entièrement composée de femmes, rien de moins !), qui portait sur « L’état du capital-risque au Sénégal ». La région émerge rapidement comme un centre d'innovation et d'opportunités, avec un énorme potentiel inexploité. En collaborant efficacement, le capital privé, que ce soit le capital-risque ou le private equity, peut jouer un rôle essentiel dans le développement durable et la transformation économique. Merci à mes co-panélistes, Coumba Sarr et Arnaud Wernert, à notre modérateur Mouhamed KEBE, à mes collègues d'AFIG Funds qui étaient présents (tous sur la photo 😊) , et à tous ceux qui ont participé à cet événement historique. J'ai quitté cette rencontre profondément encouragé par l'avenir des investissements alternatifs en Afrique francophone. J'ai hâte de voir comment nous continuerons à bâtir sur cet élan ! Abi Mustapha-Maduakor, CA, MBA Nadia Kouassi Coulibaly

🌟 🌟 Mr. Papa Madiaw Ndiaye took to the stage at Francotech 🌟🌟 ''Francophonie, Innovation, and Economy'': Mr. Papa Madiaw Ndiaye, CEO of AFIG Funds and Chairman of Ecobank Transnational (ETI), took the stage at the Francophonie Summit in Paris to share insights on Responsible Innovation, Digital Transformation, and Economic Inclusivity. A day of innovation and exchanges capped by a high level dinner at the Elysee Palace offered by President and Mrs. Macron. #Francophonie #Francotech #Paris AFIG FUNDS Ecobank Transnational Incorporated Papa Madiaw Ndiaye Patrice Backer Kelechi Okoro Aïda-Léna N. Mimi Kadiatou Traore

🌟🌟Driving Innovation: #ADEPME joins forces with #AFIGFunds in Venture Studio initiative🌟🌟 We are excited to announce that ADEPME has us joined at #AFIGFunds in our Venture Studio initiative. This new partnership further strengthens our commitment to supporting African start-ups and entrepreneurs. With ADEPME's expertise and resources, we aim to continue institutionalizing these businesses and preparing them to become independent regional players. Together, we look forward to promoting innovation and driving sustainable growth across the continent. 🌟🌟Stimuler l'Innovation : #ADEPME s'associe à #AFIGFunds dans l'initiative de Venture Studio🌟🌟 Nous sommes ravis d'annoncer qu'ADEPME nous a rejoint a #AFIGFunds dans notre initiative Venture Studio. Ce nouveau partenariat renforce davantage notre engagement à soutenir les start-ups et entrepreneurs africains. Avec l'expertise et les ressources d'ADEPME, nous visons à continuer d'institutionnaliser ces entreprises et à les préparer à devenir des acteurs régionaux ou mondiaux indépendants. Ensemble, nous nous réjouissons de promouvoir l'innovation et de stimuler une croissance durable à travers le continent. #ADEPME #AFIGFunds #AfricanStartUps #VentureStudio ADEPME OFFICIEL AFIG FUNDS Marie Rose Faye Dr Soyibou NDAO Aminata M. DRAME Fatou Tayinah SALL Papa Madiaw Ndiaye Patrice Backer Mimi Kadiatou Traore

🌟 Celebrating Growth and Success at AFIG Funds 🌟 This week, we at AFIG FUNDS organized our inaugural Alumni Gathering in Dakar. This hybrid event brought together our team and local alumni for a fun and lively cocktail reception in Dakar, while our international alumni checked in via teleconference from such locations as the Central African Republic, Côte d'Ivoire, France, Japan, the Netherlands, and the U.S., highlighting the extensive reach of our network. Since launching our internship programs in 2009, we have been dedicated to cultivating future leaders in finance and industry. Our tailored initiatives include: + A year-long program for MBA students from Senegalese business schools. + A summer internship for U.S. undergraduate and MBA students. + A six-month experience for students from France's Grandes Ecoles. These programs have welcomed African and international professionals from diverse backgrounds, building a dynamic community of talent and innovation. Our alumni have achieved remarkable success, founding their own companies, excelling as leading executives in financial services or industry, or pursuing other impactful endeavors. These accomplishments highlight the transformative impact of our commitment to nurturing the next generation of business leaders. We extend our heartfelt thanks to our local business school partners—CESAG BUSINESS SCHOOL, Groupe Institut Africain de Management 2, Groupe ISM, BEM Dakar, and Groupe SupDeco Dakar—for their continued support and for recommending their top students to our program. We are immensely proud of our alumni's achievements and the growth of our network. This week's event was not only a celebration but also a reaffirmation of our collective potential to drive meaningful change in the finance industry. We eagerly anticipate future gatherings and look forward to reconnecting with those alumni who could not attend. #AlumniSuccess #BusinessLeaders #GlobalNetwork #Investment #Empowerment #Innovation #AFIGFunds Aissatou Gaye Alima BA Laeticia BALOU Imelda C. Hounsinou Cheikh Ahmadou Bamba Fall Ornella K. Francis David SOSSAH Yacine Amar Jean Marc SÉNE Thierry Ekwalla Dieynaba Ndiaye Papa O. Syr Diagne, MBA Ndèye Thioro FAYE EL HADJI MALICK SOUMARE , ASMEC Sophia Sharara Axel Claude DOVI Mamadou Gueye Sow Adji Zamtato Gane-Bang Cindy Dossou Valentin Dikongué Marie Louise Esi Ndiaye

Did you know about #InternationalCapeVerdeanWomenDay? This date is celebrated by #CapeVerdeanWomen, only. Let me take you back to 1981 in Cape Verde where the Women’s Organisation of Cape Verde suggested March 27th to honour Cape Verdean women globally. Also known as #InternationalKriolaDay, it recognizes and celebrates the remarkable contributions and achievements of Cape Verdean women. #AFIGFunds is thrilled to highlight the inspiring initiatives orchestrated by our portfolio company, #Tecnicilindustria, a beverage-producing company based in Praia, Cape Verde, with a manufacturing facility in the town of Trindade. Throughout the month on March, activities will be as follow: ·         On March 8th, messages of recognition and congratulations will be extended to all female collaborators. ·         On March 26th, #Tecnicilindustria hosted open conversations themed around " #InspiringWomen, women's intimate health," featuring the esteemed participation of the President of the Cape Verde Women's Organization (OMCV). guided by a pelvic physiotherapist. ·         As we reach the pinnacle of the celebration on March 27th (Cape Verdean Women's Day), each employee will be presented with a rose as a gift accompanied by a card personally signed by the company's CEO. These activities reflect #TecnicilIndustria's dedication to honoring and valuing the contributions of women, making this celebration truly special. Tecnicil Indústria Tecnicil Indústria Alex Varela Papa Madiaw Ndiaye  Patrice Backer Awa Diallo Essane Stéphanie WADIA Mimi Kadiatou Traore #InspireInclusion #InternationalWomenDay

As we are still in the month of March, celebrating #InternationalWomenDay, #AFIGFunds is delighted to showcase the programs and activities which were spearheaded by our portfolio company, #NEMInsurance. Renowned in the Nigerian insurance sector #NEMInsurance celebrated this occasion by paying tribute to women, hosting captivating games, awarding prizes, and delighting attendees with culinary delights throughout the event. #InspireInclusion Tope Smart Arimoro Kayode Idowu Semowo Papa Madiaw Ndiaye Patrice Backer Kelechi Okoro Awa Diallo Kady Fatem TRAORE Mimi Kadiatou Traore

Mustapha EZZEDDINE, Papa Madiaw Ndiaye, Patrice Backer, Arjette van den Berg, Albert Claude DIADHIOU, Ebbah Armande Anita KADJO, valerie kouandi, Salma Ely Manel Fall, Essane Stéphanie WADIA. #AFIGFunds met en lumières les actions marquantes de notre société du portefeuille, #NouvelleMiciEmbaci, un leader régional dans l'industrie de l'emballage et du recyclage, à l'occasion de la #JournéeInternationaleDesFemmes la semaine dernière : ·      Une procession vibrante avec des fanfares traversa toute l'usine, accompagnant la distribution de cadeaux aux femmes. ·      Une projection de deux vidéos inspirantes : -         L’une axée sur l'inclusion, partageant des récits inspirants de femmes techniciennes prospérant dans des professions traditionnelles masculins, inspirant les générations futures, et aussi portant sur l'engagement de la direction et du personnel de NME à faveur de l'inclusion des femmes. -         L'autre mettant en lumière les jeunes filles du Lycée Professionnel des Métiers de la Mécanique et de l'Electricité qui ont choisi de poursuivre des carrières traditionnellement masculines. ·      Une conférence intitulée ‘’Accélérer l'inclusion et l'épanouissement des techniciennes dans le secteur industriel’’ animée par un professeur du Lycée Professionnel des Métiers de la Mécanique et de l'Electricité et spécialiste des questions de genre. L'événement s'est conclu par une cérémonie de remise de prix honorant les réalisations des techniciennes de NME et des entreprises clientes suivi par un déjeuner convivial

Mustapha EZZEDDINE, Papa Madiaw Ndiaye, Patrice Backer, Albert Claude DIADHIOU, Arjette van den Berg, Ebbah Armande Anita KADJO, Salma Ely Manel Fall, Essane Stéphanie WADIA, Mimi Kadiatou Traore #AFIGFunds highlights the impactful initiatives of our portfolio company, #NouvelleMiciEmbaci, a regional leader in the packaging and recycling industry, on the occasion of International Women's Day last week: • A vibrant procession with brass bands traversed the entire factory, accompanying the distribution of gifts to women. • Screening of two inspiring videos: One focused on inclusion, sharing inspiring stories of female technicians thriving in traditionally male-dominated professions, motivating future generations, and highlighting the commitment of NME's management and staff to promoting #WomenInclusion. The other showcasing young ladies from a Professional High School of Mechanics and Electricity who have chosen to pursue traditionally male-dominated careers. • A conference titled "Accelerating the Inclusion and Flourishing of Female Technicians in the Industrial Sector," led by a professor from the Professional High School of Mechanics and Electricity and a gender equality specialist. • The event wrapped up with an award ceremony honoring the achievements of NME's female technicians and those from client companies followed by a social lunch.