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Enko Capital, the Africa-focused investment firm led by Cameroonian financier Alain Nkontchou, has secured $100 million in the first close of its flagship private credit fund. The fund is aiming for a final size of $150 million, with an upper cap of $200 million, and is designed to widen access to finance for mid-sized African companies that often struggle to borrow at reasonable terms.
The announcement came during the World Bank and IMF Annual Meetings in October 2025. The deal ranks among the continent’s biggest private credit moves this year and reflects growing confidence among investors that Africa’s middle market can deliver steady returns while creating jobs and boosting local economies.
Global and African backers on board
The Enko Impact Credit Fund will provide dollar loans to established, profitable firms operating in agriculture, manufacturing, telecoms, renewable energy, and financial services.
Its investors include British International Investment (BII), the International Finance Corporation (IFC) of the World Bank Group, SICOM Global Fund Limited, a European impact investor, and several African pension funds and family offices.
Enko’s managing partner said the firm’s regional teams conduct rigorous, hands-on due diligence and closely track borrowers. “This isn’t just about financial returns,” Nkontchou told reporters. “It’s about showing that African businesses can compete and deliver lasting impact.”
Filling Africa’s $300 billion credit gap
Across Africa, an estimated $300 billion financing gap keeps many promising businesses from expanding. These firms are often too large for microfinance yet still considered too risky for commercial banks.
Enko’s fund intends to bridge part of that divide with loans that allow entrepreneurs to grow without having to give up ownership stakes. “Private credit is still young in Africa,” Nkontchou said. “We want to connect global investors with local opportunities and back businesses that create real value and jobs.”
A growing footprint in alternative finance
Founded in 2008 by two brothers, Alain Nkontchou and Cyrille Nkontchou, Enko Capital now manages roughly $1.3 billion in assets across private equity, credit, and listed strategies. The firm has invested in more than 30 companies in 15 African countries, typically targeting firms with reliable cash flow and strong governance.
Lending under the new fund is expected to begin within six months, with ticket sizes ranging between $5 million and $20 million per borrower. While private credit has surged globally to more than $1.7 trillion, Africa’s focus is shifting from government and infrastructure projects to established private firms seeking flexible capital.
By anchoring this first round, the firm hopes to attract additional institutional investors and help deepen Africa’s still-young private credit market.
