SouthBridge Investments (SBI) and New African Capital Partners (NACP) have announced the launch of their joint venture – SBNA.
SBNA will act as a “permanent capital fund” aiming to attract investors who take a long-term view on Africa. The joint venture intends to directly invest in Africa’s future with long-term capital, focusing on FinTech, the financial sector integration, and micro and meso finance.
The CEO and co-founder of New African Capital Partners, Charles Kié, will head SBNA. His professional career has included top jobs at Citibank, Banque Atlantique, Ecobank and AFC (Africa Finance Corporation), before co-founding NACP in October 2018 with Paulo Gomes.
The financial sector remains critically important to the continent’s development. Long-term capital, modernisation, and investor commitment are key to the transformation of one of the world’s most promising banking markets.
“With a substantial rate of return, the financial sector is set to attract more flows and generate many more opportunities. In this particular area, SBNA wishes to focus on digitalization, inclusion and sustainable finance. Efficiency and technology are expected to open the banking system to the millions of people who deserve and need it.
“To fulfill these goals, SBNA brings together African know-how, strong financial, banking and technology skills, experience and knowledge. The joint venture will leverage this outstanding human capital and market knowledge to be a truly pan-African endeavor dedicated to Africa’s growth and integration,” a statement explained.
SouthBridge Investments (SBI) is the investment arm of SouthBridge Group. It was incorporated in 2020 and represents a major commitment to invest directly in Africa’s future.
