High-potential SMEs in French-speaking West Africa

We support the small and medium-sized companies that form the heart of the West African economy, with long-term financing and a partnership geared towards value creation.

of the economy carried by SMEs: +80%
only of bank lending captured: 20%
years of private equity experience: +30
priority area of investment: WAEMU

SMEs, the engine of the West African economy

The economic fabric of West Africa rests on its small and medium-sized companies. They create the jobs, structure local supply chains and carry the growth of French-speaking West African economies.

Yet these companies account for more than 80% of the economy while capturing only around 20% of banking services and lending. That gap is both a brake and an opportunity: well-supported equity unlocks sustainable, value-creating growth.

The gap, on the same scale

80 %of the economy carried by SMEs

20 %of banking services and lending

x4SMEs weigh four times more in the economy than in the credit they obtain.

What we believe

An SME ready to change scale does not lack potential: it lacks a long-term financial partner able to strengthen its equity and structure its growth.

Our targeting criteria

Beyond financial indicators alone, we look for the fundamentals that set apart a company ready to take a step up.

Regional roots
A head office in the WAEMU area first, or elsewhere in French-speaking Africa, with a sound knowledge of the regional market.
Growth potential
A proven business model and a clear, credible development path.
Management team
Committed executives, open to structuring and to professionalising management.
Sound governance
A will to be transparent, and solid, lasting governance practices.
Mass consumption
A position in markets carried by demographics and an expanding middle class.
Job intensity
Activities with a high human resource intensity, with a direct impact on local employment.
Innovation
Companies that evolve their model, their tools or their services to get ahead of their market.
A company from our investment area
Roots in West or Central Africa, the area where Cauris Management has invested since 1995.

A long-term partnership

Our support goes beyond providing capital: it secures growth and prepares the structuring milestones.

01
Strengthening equity
Long-term financing in equity and quasi-equity, to give the company the means to grow.
02
Strategic assistance
Technical and strategic support to professionalise management and secure the path ahead.
03
Structuring milestones
Preparing external growth, financial structuring or an ownership transfer.