YEELEN FINANCIAL FUND CURRENTLY IN FUND RAISING
Following a tender launched by the West African Development Bank (BOAD), the Yeelen Capital consortium, made of Cauris Management, Mr. Paul Derreumaux, founder and former Chairman and Chief Executive Officer of the Bank Of Africa Group, Mr. Amadou Raimi, Formerly Chairman of Deloitte France and Vice-President of Deloitte Monde, and Finactu, a consulting firm dedicated to the African continent and specialized in finance and insurance, has been selected to raise and manage Yeelen Financial Fund, dedicated to the financial sector in the WAEMU region.
Indeed, Yeelen Financial Fund, with a target size of € 150 million, aims among other, at supporting banks, insurance, microfinance, fintech companies and other financial institutions of the WAEMU in their expansion and further development. The fund will invest between € 2 million and € 11 million in targeted companies operating in WAEMU countries (Benin, Burkina Faso, Cote d'Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo) throughout operations of creation, restructuring, privatization and / or mergers and acquisitions.
Cauris Management will provide Yeelen Capital, the Manager of Yeelen Financial Fund, with a dedicated team led by Mr. Benjamin Kouakou, Partner and Director, who has a cumulative 25 years of experience in the banking and financial sector in West and Central Africa after having held senior positions in several banks (Chief Executive Officer for Orabank Tchad, Regional Director for Diamond Bank ...). Cauris Management will also provide Yeelen with ESG support, reporting and back-office services.
For Noël Yawo Z. Eklo, Managing Director of Cauris Management, «WAEMU's financial sector is in a major phase of its development with the raising of the minimum capital of banks and insurance companies which will require players to raise long term capital and to review their strategy to better tackle challenges. Yeelen Financial Fund, thus aims to provide pragmatic solutions to financial institutions that support SMEs, to achieve financial inclusion of region’s populations».
About Cauris Management
Cauris Management is a private equity fund manager that has been investing in West African SMEs, mainly Francophone for over 15 years. Cauris Management invested in 47 companies and completed 40 exits during that period. Cauris Management made 11 investments in the financial sector with a return above 3 times the amounts invested in the banking sector. The portfolio of Cauris Management, in addition to investments in the financial sector, has included sectors as diverse as agribusiness, hospitality, telecoms, consumer goods, and downstream oil and gas. Cauris Management operates from Lomé and Abidjan.
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