Okoumé Capital commits to over 1 billion FCFA in support of high-potential gabonese businesses
Libreville, May 23, 2023 - Okoumé Capital, a subsidiary of the Gabonese Strategic Investment Fund (FGIS) dedicated to financing and supporting SMEs, is investing over 1 billion FCFA to support the growth and sustainability of Gabonese companies operating in the agriculture,mining, construction, timber, and healthcare sectors.
This overall investment amount by Okoumé Capital in six (6) companies comes at the end of its series of support programs for SMEs, micro-enterprises, and start-ups implemented during the year 2022. The investment committees have identified the beneficiary SMEs from the nineteen (19) proposals submitted for funding. The funded companies meet eligibility criteria and undergo a rigorous selection process, including the following criteria:
· Willingness of SMEs to open their capital.
· Refined value proposition: existing competitive positioning.
· Defined vision on financing needs, viable and clear economic model.
· Existing, cohesive, mobilized, and committed team.
· Promising market prospects and significant job creation potential.
Adherence to ESG criteria: integration of environmental and societal requirements.
The investment of over 1 billion FCFA marks the culmination of operational, commercial, legal, tax, and accounting due diligence processes, as well as negotiations with the promoters on the terms of the transaction. This support aims to strengthen their financial solidity, clarify their governance, facilitate internationalization, and enhance their contribution to wealth and job creation. In 2022, the companies benefiting from this equity investment achieved a cumulative turnover of 2,438,998,121 FCFA.
Through this equity investment, Okoumé Capital demonstrates its trust in Gabonese SMEs. Indeed, this equity participation for a duration of 5 to 10 years grants Okoumé Capital the status of a minority shareholder and is accompanied by a strategic component: operational advice, intangible resources, and networking.
Fifty (50) promoters from the first cohort of the program were supported by local actors in various fields (management tools development, accounting, good governance practices, individual coaching, etc.). They all had access to business opportunities and key market data to consolidate their strategy and its execution.
Aligned with the Acceleration Plan for Transformation(PAT), which reflects the vision of the President of the Republic, His Excellency Ali Bongo ONDIMBA, this commitment by Okoumé Capital to support SMEs, 50% of which operate in the agriculture-livestock sector, contributes to encouraging the development of sustainable economic models and addressing the financial needs of entrepreneurs.
Okoumé Capital is preparing to launch registrations in the coming days for the recruitment of the second cohort of "La Fabrique Des Champions" (The Champions' Factory), where by the program's objective will be to prepare companies for investment by strengthening their fundamentals so that the most high-performing ones can be financed by the Fund, including through equity participation. For the implementation of this second cohort,Okoumé Capital will benefit from the technical support of Entrepreneurial Solution Partners (ESP), a consulting and investment firm that assists in the management of the "La Fabrique Des Champions" programs. All these initiatives driven by Okoumé Capital aim to provide tailored support and financing solutions to meet the needs of Gabonese SMEs.
ABOUT OKOUMÉ CAPITAL
Okoumé Capital SA, a subsidiary of the Gabonese Strategic Investment Fund (FGIS), is a private equity company created to contribute to the consolidation and diversification of the Gabonese economy through two pillars: [1] financing national SMEs and growing businesses through various types of investments (equity participation, portfolio company loans,etc.) [2] supporting project owners through a range of support services aimed at ensuring the viability and profitability of existing companies by helping them structure themselves to become high-performing enterprises. In its commitment to providing financing solutions adapted to the needs of local SMEs,Okoumé Capital established the Gabon Guarantee Company (SGG) in 2021 to enhance the capacity of financial institutions to support Gabonese SMEs. The company also positions itself as a key player in mobilizing and attracting funds from national and international donors wishing to support and finance national entrepreneurship. For more information: okoumecapital.ga
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ABOUT LA FABRIQUE DES CHAMPIONS
La Fabrique des Champions offers tailor-made support programs for high-potential small and medium-sized enterprises (SMEs) in Gabon. As part of this program, Okoumé Capital is supported by the ESPartners firm, an expert in supporting African SMEs.
ABOUT THE GABONESE STRATEGIC INVESTMENTFUND (FGIS)
The Gabonese Strategic Investment Fund (FGIS) is the exclusive manager of the Gabonese Republic Sovereign Fund (FSRG) and the unallocated holdings of the Gabonese state portfolio. The Fund invests toachieve shared prosperity for the Gabonese population and future generations.The Fund operates in three strategic sectors: infrastructure financing, SME support, and support for social sectors. The FGIS also acts as the exclusive manager responsible for the commercialization of carbon credits owned by the Gabonese Republic as part of the fight against climate change. For more information: www.fgis-gabon.com / LinkedIn and Twitter.
PRESS CONTACTS
Aunel Loumba
Communication and Public Relations Manager
+241 076 29 25 12
aloumba@fgis-gabon.com