Emerging Capital Partners

Emerging Capital Partners

Emerging Capital Partners (ECP) is one of the main African investment fund managers, managing over 1.8 billion US dollars of assets. Operating on the African continent since 2001, ECP has created 4 regional funds and 3 Pan-African funds (ECP Africa Fund I, ECP Africa Fund II and Africa ECP Africa Fund III) for development institutions, sovereign funds and private investors.

A privileged knowledge of Africa

ECP has seven African offices (Tunis, Casablanca, Lagos, Abidjan, Nairobi, Johannesburg, Douala) and encompasses over 30 professionals from 10 different countries, all inspired by the same passion for African investment. ECP has made over 50 investments on the continent in over 40 countries, in a wide variety of sectors including energy, consumer goods, telecommunications, financial services, natural resources, agriculture and public services.

ECP’s investment strategy is to identify growing businesses in an environment that has an increasing need for infrastructure in the face of an emerging middle class, and that can benefit from the acceleration of regional integration. For ECP, the opportunity is in the identification of high growth potential businesses which are capable, with ECP’s financial and technical support, of creating added value on the continent, of being at the origin of technical progress, of encouraging the development of technical and managerial skills, or of being the catalyst for the emergence of a class of African entrepreneurs.

ECP, a valuable partner:

  • For governments: to accompany them in projects that structure the economy in the field of infrastructure or public service management. ECP has thus invested in water management and distribution services in Morocco and has participated in the emergence of Celtel, the Pan-African operator.
  • Entrepreneurs seeking capital to finance the growth of their businesses to become national or regional champions. ECP thus financed the regional development of NSIA, the insurance leader which has since become a banking-insurance sector champion. It also supported the financial restructuring of the biggest African sub-Saharan tuna canning plant, Pêche et Froid-SCODI, currently seeking new markets, and steered the turnaround of the Financial Bank which has become Oragroup, present in 6 African countries, and currently showing solid performances.

The differentiating factors for ECP and the keys to the success of its investment strategy are:

  • An in-depth knowledge of the continent, its needs, its risks and its opportunities.
  • A wide network built over the years including Africa’s development partners: development institutions, private investors, merchant banks, public services, politicians…
  • Close collaboration with its companies: ECP’s strong presence on the African continent makes it possible for it to be constantly involved alongside the businesses in its portfolio and to participate in their growth.
  • Professional ethics based on the respect of its commitments to its stockholding partners
  • A corporate social and environmental responsibility policy both in its investments and within its companies: ECP attaches special importance to the fact that its companies and portfolio adopt a good citizen attitude and encourages them to adopt innovating corporate policies such as extended insurance coverage, pension policies, equal opportunities for women, training, etc.

The eranove majority shareholder 

In 2009 ECP Africa Fund II, a 523 million US dollar fund, took control of the eranove group having in mind the will to promote more local shareholders. Thanks to the support of a major financial partner, ECP has structured its investment to buy the Bouygues shares in partnership with local management, employees, and local investors.

The purpose of this purchase was, for ECP, to raise eranove to the leading position in the water and electricity industries in West Africa, and to place its financing expertise and its capacity to mobilise resources at the service of this objective.

The different steps ECP’s plan of action were:

  • To unify employees around an objective and a common vision of which the priorities are the improvement of the quality of service, customer satisfaction, increased output, the fight against fraud, and the pursuit of social cohesion and sustainable development policies
  • To build a policy to increase the responsibility of managers by strengthening managerial capacities
  • To re-establish businesses and African skill and training centres for the water and electricity industries by pursuing an active policy to recruit young talent, and by organising the passing down of knowledge and giving access to the latest technological evolutions
  • To consolidate the social progress achieved by the company for its employees using a model that is unique in Africa
  • To export these management models to other African countries