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Yeelen Financial Fund: investing in the financial institutions of French-speaking Africa

Launched at the initiative of the West African Development Bank (BOAD), Yeelen Financial Fund (YFF) supports the growth of financial players, particularly those of the West African Economic and Monetary Union.

Fund size (€50.57m)
~33bn FCFA (€50.57m)
Launch vintage
July 2017
Fund status
Exits under way

A fund dedicated to the West African financial sector

Yeelen Financial Fund was launched at the initiative of the BOAD to support the growth and development of WAEMU financial institutions: banks, insurance companies, microfinance institutions, financial technology companies (fintech) and other players in the sector.

Four of these transactions are published on this site, for a cumulative amount of EUR 26.3 million. The fund’s first exit, the divestment of AFG Insurance Capital in May 2026, returned 2.5 times the investment.

Read the release

Profile of Yeelen Financial Fund

Name
Yeelen Financial Fund
Initiative
West African Development Bank (BOAD)
Capital
~33bn FCFA (€50.57m)
Vintage
July 2017
Status
Exits under way
Zone
WAEMU
Manager
Cauris Management
Targets
Regional financial institutions

The team and the consortium that manage Yeelen

Cauris Management has provided Yeelen with a benchmark consortium and a dedicated team led by Benjamin Kouakou, who has over twenty-five years of experience in the African financial sector.

Cauris Management also provides Yeelen Financial Fund with support in ESG, reporting and back-office services.

The consortium

Four partners

Yeelen Capital brings together Cauris Management, Paul Derreumaux, founder of the Bank of Africa group, Amadou Raimi, former chairman of Deloitte France and vice-chairman of Deloitte Global, and the firm Finactu.

The players targeted

  • 01 Banks
  • 02 Insurance
  • 03 Microfinance
  • 04 Fintech
  • 05 Financial institutions

Four published transactions

The release of 22 May 2026 reports five holdings financed since 2017. Four of them have been the subject of a release, listed here.

  • Fidelis FinanceIvory Coast · 2024

    In portfolio

    EUR 7.6M - XOF 5bn

    Financial institution engaged in a transformation into a bank.

    The release

  • Mansa BankIvory Coast · 2024

    In portfolio

    EUR 7.62M - XOF 5bn

    Recently created Ivorian commercial bank.

    The release

  • GAMMAMali · 2021

    In portfolio

    EUR 5.3M - XOF 3.5bn

    Insurance holding company owning SONAVIE and SABUNYUMAN, life and non-life.

    The release

  • AFG Insurance CapitalIvory Coast · 2019

    Divested in 2026, 2.5 times the investment

    EUR 5.8M - XOF 3.8bn

    Insurance sub-holding of the Atlantic group, in West and Central Africa.

    The release

The investors in Yeelen Financial Fund

All our financial partners The companies we back

  • AFGAtlantic Financial Group - Ivory Coast
  • BADAfrican Development Bank
  • BOADWest African Development Bank
  • CFOAWest African Financial Company - Senegal
  • CNPS Côte d’IvoireNational Social Insurance Fund of Ivory Coast
  • CNSS TogoNational Social Security Fund of Togo
  • NSIA VIE ASSURANCESIvory Coast
  • NSIA VIE ASSURANCESTogo
  • SGI TOGOManagement and Brokerage Company of Togo
  • SONAVIENew Life Insurance Company - Mali
  • SUNU Assurances VieBenin, Burkina Faso, Ivory Coast, Senegal, Togo
  • ZEENASenegal

A growing financial institution?

Discover all the investors of the funds managed by Cauris Management.

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Before you start

Two conditions open a review, and we check them straight away. If they are met, the questionnaire takes about ten minutes: you can stop and resume, your draft stays on this device, and nothing is sent before the summary.

Two conditions open a review

  1. West and Central Africafor the country of the head office; Nigeria remains outside our scope
  2. 1.3 billion FCFAat the very least, around 2 million euros or 2.13 million dollars

Both are cumulative: both must be met to continue.

What is worth having to hand

  • The figures from your last closed financial year: revenue, net profit, equity
  • The amount you are seeking and what the funds are for
  • Your business plan, if you already have one: it is optional at this stage

Let us check them now

XOF

The review threshold is 1.3 billion FCFA, around 2 million euros or 2.13 million dollars.

Step 1 of 5

Your company

Identifying the company and the stage it has reached.

Headcount *
What you are looking to do *
Optional, but it saves us one exchange.

Step 2 of 5

Your figures

Rough figures from the last closed financial year.

Currency of your accounts *
XOF
XOFIf negative, put a minus sign before the amount.
XOFShare capital, reserves and retained earnings.
XOFOptional. Bank loans outstanding.
Operating profit (EBITDA) *

Before interest, tax and depreciation.

Step 3 of 5

Your need

The instrument and the use of the funds.

Instrument you are seeking *
Use of the funds *

You may tick several.

Are you comfortable with Cauris taking a minority stake? *

Our stakes are usually minority ones, over a three to five year horizon.

When you need the funds *

Step 4 of 5

Your project

What the funding is meant to achieve.

  • The project: what you want to do, and why now.
  • The market: the demand you serve and your edge over competitors.
  • The company in three to five years: the revenue, headcount and locations you are aiming for.
0 of 1,500 characters, 120 at the very least.
Business plan A methodical document of 15 to 20 pages: the company, its environment, a 3 to 5 year projection, forecast financial statements.
Documents you can provide

They will be asked for if your case goes to review.

Step 5 of 5

Contacting you

So that our team can get back to you.

Preferred office

Last step

Summary of your request

Read your answers again before sending. Every block can be edited in one click.

Request sent

Thank you, your project is in our hands

Your case reference: . Keep it for our exchanges.

  1. Your request goes to the investment teamAn acknowledgement is sent to .
  2. An investment officer studies your caseAgainst our criteria: the company’s profile, its executives and governance, its market, and the shape of the stake.
  3. They get back to you for a first conversationHave your business plan and documents ready: they will be asked for if the case goes to review.

The companies we back