Deals - Jul 01, 2022

Asafo & Co. advised the investment fund, Fonds d’Investissement Africain (FIA), in structuring and obtaining the approvals necessary to launch its pan-African fund.

Founded in response to the shared goal of the 17 African CIPRES member countries (States of the Inter-African Conference on Social Welfare) to join forces and pool the management of part of their financial reserves, the FIA’s “Fonds I PCC”, was recently approved by the Financial Services Commission in Mauritius, creating a major pan-African investment fund. The fund is actively seeking additional investors to raise additional capital with the aim to reach FCFA 150 billion (approximately $240,700,000) in its first financing round.

The Asafo & Co. team advising FIA included partners Patrick Larrivé and Mouna Boubia, based in Casablanca, who were assisted by associate Cyril Kalfat.