Leapfrog Investments

LeapFrog Investments, established in 2007, is a London-based private equity firm that focuses on growth-stage investments in the financial services and healthcare sectors. It primarily targets emerging markets, including Africa and Asia, with a particular emphasis on countries like Kenya, Nigeria, Ghana, South Africa, India, Indonesia, the Philippines, and Sri Lanka. The firm invests in businesses that provide essential financial and healthcare products and services, such as insurance, pensions, savings, credit, mobile payments, and medical products distribution. LeapFrog typically invests between $10 million and $50 million, aiming for both minority and majority stakes, and expects to exit its investments within four to seven years through IPOs, trade sales, or secondary sales.

Stephen Bowey

Operating Partner

Partrick Duff

Investment Director

Gary Herbert

Co-Founder, COO, Board Member and Member of Management and Investment Committee

Michael Jelinske

Director of Investments

Annabelle Jurd

People Associate

Kuper Ph.D., Andrew

Founder and CEO

Stewart Langdon

Partner and Co-Head

Fernanda Lima

Partner

Biju Mohandas

Partner and Global Co-Lead, Healthcare

Felix Olale

Partner, Global Co-Lead, Health Investments, Board Member and Member of Investment Committee

Raimund Snyders

Partner

Nakul Zaveri

Partner and Co-Head

Past deals in Ghana

Fidelity Bank Ghana

Secondary Market in 2021
Fidelity Bank Ghana Limited is a commercial bank based in Accra, Ghana, established in 2006. It offers a range of banking products and services, including current and savings accounts, time deposits, internet banking, SMS banking, and money transfer services. The bank caters to various clients through executive and private banking, corporate finance, retail banking, mortgage, trade, wholesale banking, and treasury services. Additionally, Fidelity Bank Ghana supports government objectives in electrification and power generation by financing independent power providers and facilitates importation of refined crude oil. It also provides advisory services, issues securities, raises capital, and manages portfolio investments for clients through its subsidiaries. The bank is committed to meeting the financial needs of low-income customers, small-scale entrepreneurs, and rural communities.

AFB

Private Equity Round in 2015
afb is a financial services company based in Accra, Ghana, that provides credit solutions to individuals and small businesses across Africa. Founded in 2010, afb operates through four main divisions: cards, loans, mobile, and insurance. The company focuses on harnessing data to understand consumer behavior, enabling it to offer innovative financial products such as mobile money, working capital solutions, and loyalty programs. With a growing customer base of over 300,000 in Kenya, Ghana, and Tanzania, afb has established partnerships with more than 400 retail outlets and has pioneered the provision of unsecured credit via digital channels in collaboration with major mobile network operators.

Petra Trust

Private Equity Round in 2014
Petra Trust Company Limited is a provider of trustee services in Ghana, catering to both employers and individuals. The company specializes in personal pension and retirement planning, helping clients navigate their financial futures. Petra Trust offers a range of services, including investment policy formulation, strategic and tactical asset allocation, and benchmark design. Additionally, it assists clients in selecting and evaluating fund managers and custodians, as well as providing comprehensive fund administration services. The company also delivers customized pension training aimed at individuals and corporate executives, ensuring that they meet regulatory requirements. Petra Trust is headquartered in Accra, Ghana.

Express Life Insurance Company

Acquisition in 2012
Express Life Insurance is a provider of life insurance products and services based in Ghana. The company specializes in offering credit life and disability plans, which insure the outstanding balance of consumer loans against risks associated with death and disability. Additionally, Express Life Insurance provides personal pension plans designed to offer both living and death benefits, while also serving as a vehicle for individuals to save for retirement. Through these offerings, the company aims to meet the insurance and savings needs of its clients effectively.
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