Enko Capital Secures $130 Million for Impact Credit Fund Targeting African Mid-Sized Enterprises

Enko Capital, a prominent African asset manager, has announced a significant fundraising milestone for its Enko Impact Credit Fund, successfully mobilizing $130 million towards its investment goals. This achievement follows a major $30 million commitment from the Public Investment Corporation (PIC), South Africa’s largest asset manager. The PIC’s investment has pushed the fund’s total commitments to 86.7% of its initial target, with the potential to reach its authorized ceiling of $200 million within the next seven months. The PIC, fully owned by the South African state and responsible for overseeing the vast resources of the Government Employees Pension Fund, has a long history of supporting Enko Capital’s initiatives across Africa dating back to 2016. The Enko Impact Credit Fund is strategically designed to provide essential financing to mid-sized African Small and Medium Enterprises (SMEs) that currently face an estimated financing gap of $330 billion. The fund aims to close this critical gap by providing medium-sized companies with dollar-denominated private credit, offering attractive maturities and customized financing structures tailored precisely to their specific growth needs. The increasing demand for private credit in Africa, as noted by PIC CEO Patrick Dlamini, stems from many growing companies actively seeking reliable alternatives to the often restrictive and short-term nature of traditional bank loans. Key target sectors for the fund include agriculture, telecommunications, manufacturing, renewable energy, and financial services. These sectors have been identified as accounting for a disproportionately large share of both existing financing demand and a significant number of high-growth-stage companies crucial for continental development. The PIC commitment joins a robust consortium of existing impact and commercial investors, which collectively mobilized the initial $100 million by the end of October 2025. This group includes prominent institutions such as British International Investment, the International Finance Corporation (IFC), SICOM Global Fund Limited, along with various African pension funds and influential family offices, underscoring broad international and local investor confidence in the fund’s model and objectives.