Last week, impact investor Investisseurs & Partenaires (I&P) announced news of two minority investments it has recently made in West Africa. Both investments were made from its €54 million I&P Afrique Entrepreneur Fund and the financial terms of each deal were not disclosed. The first is the acquisition of a 35% stake in Enval Laboratoire, a physicochemical and microbiology lab located in the Côte d’Ivoire, while the second is participating in a consortium investing $3.2 million in PEG Africa, a renewable energy company bringing off-grid solar energy access to underserved communities.
ENVAL was founded by Bakary Coulibaly in 2012, and, while specializing in providing microbiological and physico-chemical analysis services, has expanded its activities to soil testing, foliar analysis and oil analysis as well as noise-measuring and air quality analyses. In anticipation of the growth expected from Côte d’Ivoire’s promising but immature mining market, the company plans to launch the country’s first accredited mining laboratory. The capital provided by IAPE and a local commercial bank will be used to execute these plans.
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