Proparco
Proparco is a Paris-based organization established in 1977 that specializes in providing private sector funding for sustainable development initiatives. It focuses on financing and supporting companies and financial institutions across Africa, Asia, Latin America, and the Middle East. Proparco targets key development sectors, including infrastructure—especially renewable energy—agriculture, financial institutions, health, and education. The organization aims to enhance the role of private entities in achieving the Sustainable Development Goals (SDGs) established by the international community in 2015. By financing projects that create jobs, provide essential goods and services, and combat climate change, Proparco contributes to sustainable economic growth and development. Its financing solutions include loans, guarantees, equity, and quasi-equity options tailored to the needs of the private sector.
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Past deals in West Africa
First City Monument Bank
Debt Financing in 2025
First City Monument Bank, established in 1982 and headquartered in Lagos, Nigeria, is a prominent commercial bank that offers a diverse array of financial services. As part of the FCMB Group, the bank caters to individuals, small and medium enterprises, and large corporations through its personal, business, and corporate banking divisions. Its offerings include loans, savings and current accounts, credit cards, and online banking, facilitating digital transformation in the banking sector. Additionally, First City Monument Bank provides specialized services such as cash management, foreign exchange, corporate finance, and trade services, which encompass financial advisory, capital raising, and infrastructure financing.
Letshego Holdings
Debt Financing in 2024
Letshego Holdings is a regional financial services provider in Africa, specializing in consumer lending. The company offers short to medium-term secured and unsecured loans primarily to employees in the public, quasi-public, and private sectors. It serves various customer segments, including small and micro-entrepreneurs, salaried employees, and civil servants. Operating across multiple African countries, including Botswana, Ghana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Rwanda, Swaziland, Tanzania, and Uganda, Letshego aims to meet the diverse financial needs of its clients while promoting financial inclusion in the region. The company considers its banking and other financial services as a unified operating segment, focusing on delivering accessible credit solutions to enhance economic empowerment.
Beacon Power Services
Series A in 2024
Beacon Power Services, established in 2013 and headquartered in Lagos, Nigeria, specializes in designing and implementing energy management solutions for commercial and industrial facilities. The company's core offering is its AI-enabled grid management platform, Adora, which provides real-time visibility into network performance for electric utilities, enabling them to anticipate outages, identify network losses, and distribute electricity more efficiently. Additionally, Adora empowers consumers with control over their energy infrastructure, facilitating invoicing, installations, and logistics. Beacon Power Services aims to enhance the quality and duration of electricity supplied in African cities by building smart grids and leveraging data to reduce inefficiencies in power distribution systems.
Lapaire Glasses
Debt Financing in 2024
Lapaire Glasses manufactures and sells eyewear and provides eye-care services across Africa, offering prescription eyeglasses, sunglasses and fashion eyewear with lenses and tailored testing. Using technology, it provides free vision tests and affordable eyewear to lower- and middle-income populations through online orders, mobile clinics, free delivery and flexible payment options. The company serves customers in Kenya, Uganda, Ivory Coast, Burkina Faso and Mali, with East African and West African operations headquartered in Nairobi and Abidjan respectively. Founded in 2018 in Nairobi, Lapaire aims to improve access to eye health for millions of Africans who need eyeglasses but cannot afford them.
Sonatel
Debt Financing in 2024
Sonatel SA, headquartered in Dakar, Senegal, is a leading telecommunications provider in West Africa, offering a wide range of services including fixed line, mobile, Internet, television, voice, and mobile money to both individuals and businesses. Established in 1985, Sonatel operates in Senegal and has expanded its reach to Mali, Guinea Bissau, Guinea, and Sierra Leone. The company has developed a modern, fully digitized network supported by high-speed optical fiber submarine cables, boasting one of Africa's largest Internet bandwidths at 6.5 Gbps. Through its Orange brand, Sonatel facilitates the convergence of mobile, Internet, and television technologies, playing a crucial role in the economic development of Senegal and positioning the country as a telecommunications hub in the region.
Maad
Debt Financing in 2024
Maad is a rapidly growing B2B marketplace based in Dakar, Senegal, serving Francophone Africa. It offers a tech-driven solution that enables retailers to order products from its one-stop shop and access working capital loans.
NCBA Group
Private Equity Round in 2024
NCBA Group is a financial services conglomerate operating in East and West Africa, offering retail, corporate, digital banking, brokerage, bancassurance, and investment banking services. Its primary revenue sources are Kenya, followed by Uganda, Tanzania, and Rwanda.
Ecobank
Post in 2023
Ecobank Transnational Incorporated, established in 1985 and headquartered in Lomé, Togo, provides a range of retail, corporate, and investment banking services across Africa and internationally. Its operations include Corporate & Investment Banking, Commercial Banking, and Consumer Banking, offering products such as current and savings accounts, loans, cards, and digital banking services. The bank serves a diverse clientele, including individuals, small and medium enterprises, multinationals, government agencies, and non-governmental organizations. With a network of 888 branches and over 2,460 ATMs, Ecobank facilitates various financial services, including treasury, cash management, remittance, and bancassurance. Subsidiaries such as Ecobank Nigeria Limited and Ecobank Zimbabwe Limited extend its services, focusing on commercial and retail banking tailored to local markets.
Dakar Mobilite
Debt Financing in 2023
Dakar Mobilité is the Senegalese business that operates the Dakar BRT. The company is concerned with road safety, air pollution, and greenhouse gas emissions.
Husk Power Systems
Series D in 2023
Husk Power Systems Pvt. Ltd. is a renewable energy company based in Patna, India, that focuses on generating and distributing electricity to households, community services, small businesses, and factories. Founded in 2007, the company utilizes biomass waste—such as rice husks and other agricultural residues—to produce electricity through its proprietary technology. Husk Power Systems designs and operates mini-power plants and micro-grids, offering electricity as a pay-for-use service primarily to rural areas. This approach not only provides reliable lighting, reducing reliance on kerosene, but also fosters economic development by enabling microenterprises and the use of electricity-operated machinery. By creating a sustainable energy ecosystem at each power plant, Husk Power Systems aims to deliver shared value to its stakeholders and stimulate local economies.
Maad
Debt Financing in 2023
Maad is a rapidly growing B2B marketplace based in Dakar, Senegal, serving Francophone Africa. It offers a tech-driven solution that enables retailers to order products from its one-stop shop and access working capital loans.
Jetstream Africa
Seed Round in 2023
Jetstream Africa Limited is a cloud-based logistics company headquartered in Accra, Ghana, established in 2018. The company operates a digital platform that facilitates cross-border marine logistics services for African businesses. It specializes in freight forwarding and global exports, enabling small and medium-sized enterprises (SMEs) to access international trade more easily. By offering services such as shipment booking and tracking, as well as consolidated shipping options, Jetstream enhances the supply chain experience for its users, effectively leveling the playing field in the competitive global market.
Paps
Seed Round in 2022
Paps is a Senegalese transport and logistics company established in 2016. It specializes in innovative distribution solutions for businesses and merchants, offering real-time delivery scheduling and tracking via its e-commerce platform. Services include secure warehouse storage, insured parcel delivery, cash on delivery management, courier provision, returns management, collection, and periodic reporting.
Medsaf
Debt Financing in 2021
Medsaf operates an end-to-end pharmaceutical procurement and distribution platform in Nigeria that connects hospitals, pharmacies, and patients to affordable, quality medications with timely delivery. The platform combines an online marketplace with blockchain-backed track-and-trace, data analytics, and embedded financing to improve efficiency, safety, and transparency across the pharmaceutical supply chain. It provides quality-control as a service and links manufacturers, vetted suppliers, and logistics providers to health-care buyers, enabling automated procurement and financing options, including buy-now-pay-later for medication procurement. Based in Lagos, the company aims to streamline procurement, enhance visibility into the movement of medicines, and ensure reliable access to medications for health-care providers and consumers.
Paps
Seed Round in 2021
Paps is a Senegalese transport and logistics company established in 2016. It specializes in innovative distribution solutions for businesses and merchants, offering real-time delivery scheduling and tracking via its e-commerce platform. Services include secure warehouse storage, insured parcel delivery, cash on delivery management, courier provision, returns management, collection, and periodic reporting.
Rensource
Venture Round in 2020
Founded in 2015, Rensource offers subscription-based solar power services primarily for consumers and small businesses in Nigeria. The company generates electricity using small solar-hybrid systems installed on-site, providing flexible plans such as Go, Eco, Duplo, and Pro based on customers' energy needs.
Meditect
Pre Seed Round in 2019
Meditect is a social enterprise dedicated to digitizing the medicine supply chain in French-speaking sub-Saharan Africa. Its platform offers pharmacy management software, drug traceability, patient application, and community outreach initiatives, enhancing access to quality medicines and improving healthcare efficiency.
Africa Finance
Venture Round in 2013
Africa Finance Corporation, established in 2007 and headquartered in Nigeria, is a multilateral development financial institution focused on addressing infrastructure financing needs across Africa. The organization provides a range of services, including debt, equity, project development, financial advisory, and treasury management, aimed at fostering sustainable economic growth. Africa Finance Corporation invests in high-quality infrastructure assets within key sectors such as power, natural resources, heavy industry, transport, and telecommunications. By targeting essential services in these core areas, the institution plays a critical role in promoting infrastructure development across the continent.
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