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The commitment has been confirmed by IFC with the planned equity investment in the fund being up to the lower of US$25 million or 20% of total Limited Partner (LP) commitment to EICF. The project is being processed under IFC's Debt Funds Project (DFP) Investment Framework.

EICF is Enko's first private credit vehicle. It has a target LP commitment size of US$150 million, targeting US$80 million at first close, expected to take place in Q3 2025. EICF's objective is to invest in a diversified portfolio of USD denominated senior secured and unsecured debt to mid-sized corporates in sub-Saharan Africa, excluding South Africa.

EICF will seek to invest in SDG-aligned, ESG focused and gender-oriented businesses, while generating commercial returns and utilising guarantees, insurance wraps and collateral to hedge downside credit risks.

Alain Nkontchou, Managing Partner of Enko, said, "We are delighted to have received this invaluable support from IFC for our debut private credit fund. The fund will provide critical growth capital for mid-market SMEs on the continent and will deliver both positive social impact and compelling risk-adjusted returns. This growth capital can help address the massive funding gap which businesses on the continent face while driving sustainable development."