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Just weeks after guiding Africa-focused private investment firm Silverbacks Holdings to its 10th portfolio exit, Senegalese financier Ibrahim Sagna has taken on a new role that broadens his influence beyond capital markets. Sagna has been appointed a member of the Board of Advisors at the Africa GCC Council, a platform designed to deepen economic ties between African economies and the Gulf states.
The Africa GCC Council positions itself as a connector between African growth markets and capital from the Arabian Gulf, including Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Bahrain and Oman. The council focuses on long-term investment flows, trade partnerships and risk management as Gulf investors boost their exposure to Africa’s infrastructure, consumer and technology sectors. According to the council, investment flows between Africa and the Gulf exceeded $100 billion between 2012 and 2022, and activity has continued to rise since then.
Sagna joins Africa-Gulf advisory council
Ibrahim Sagna brings nearly three decades of experience across finance, technology and private investment. Over that period, he has been involved in more than $30 billion in company-related financings across over 40 African and emerging markets, spanning sectors such as consumer services, infrastructure and natural resources. His career has included senior executive roles and board-level governance positions, with a reputation for backing institutional platforms and early-stage businesses with regional ambitions.
Announcing the appointment, Sagna said he was pleased to join a group focused on strengthening ties between Africa and the Gulf. He said the council links markets with Gulf economies to facilitate capital and expertise. The advisory role comes shortly after Silverbacks completed its latest exit, following the acquisition of Nigerian open-banking startup Mono by payments company Flutterwave. The transaction, completed in an all-stock deal in early January, marked Silverbacks’ 10th exit and reinforced fintech’s position as one of the most reliable exit routes for venture investors operating on the continent.
Investing in Africa’s future platforms
Ibrahim Sagna, who chairs Silverbacks Holdings, said the Mono transaction reflected the firm’s early belief in foundational fintech infrastructure across Africa. While fintech remains central to its strategy, Silverbacks is now expanding further into African sports and entertainment, sectors that continue to attract growing audiences but remain undercapitalized.
Under Sagna’s leadership, Silverbacks has built a diversified sports portfolio that includes the African Warriors Fighting Championship, the Cape Town Tigers basketball team and sports-technology company NERGii. The firm has also emphasized backing platforms that support youth employment and women-led enterprises, alongside a broader push to help private companies scale beyond their home markets.
Financially, Silverbacks’ fintech investments have delivered strong returns. Over the past five years, the firm has recorded a 13.7 times cash-on-cash return across its fintech portfolio. It posted a 29 times return on its investment in remittance startup LemFi following the company’s $53 million Series B funding round, and a five times return from OmniRetail, a Nigerian B2B commerce platform, after a partial exit.
