Our Mission

SMEs are a crucial driver of economic development in Sub-Saharan Africa (SSA). Every $1 invested in an SME generates an additional $10 in the local community and $1 of SME finance creates 3 times more jobs than an equivalent investment in microfinance. In order to grow, SMEs need access to both capital and management support; however, the availability of growth capital in SSA is limited. Bank loans are difficult to secure, are short-term and expensive and the private equity industry in SSA is extremely under-developed.

Jacana believes that private equity in SSA now represents an attractive investment opportunity. African GDP grew by 1.7% in 2009, vs. -3.4% for the advanced economies. Private equity success stories covering medium-sized investments, such as Aureos and Africinvest, demonstrate that it is possible to build successful SME investment operations in emerging markets; however, emerging growth capital investment managers (“GCMs”) in SSA are generally sub-scale and lacking in experience. Small funds mean a lack of capacity to invest in the breadth and depth of the investment team. Without support, most of these aspiring GCMs (many of whom have real potential) will fail.

Our vision is the creation of a sustainable, responsible and robust SME growth capital industry in Sub-Saharan Africa that supports local SMEs, fuels economic growth, creates employment and thereby makes a major contribution to the reduction of poverty in Africa.