On March 25, 2025, InFiNe hosted Ciwara Capital to share insights into its mission of fostering African private sector development and creating positive environmental and social impact. The session highlighted Ciwara’s strategic investment approach, particularly in supporting African startups and SMEs through equity and debt financing.
Ciwara Capital’s mission is to support Africa’s economic growth through strategic investments, with a focus on leveraging the financial and technical expertise of the African diaspora. Founded by members of the diaspora, Ciwara invests primarily in equity and debt, targeting startups and SMEs with the potential to become regional leaders in their sectors.
The company believes that the development of Africa should be driven by the African diaspora, which represents a significant resource. With an estimated 9 million members living in Europe and 5 million in France alone, the diaspora’s remittances and investments are crucial for funding sustainable development initiatives across Africa. Ciwara aims to channel these resources effectively, acting as a trusted intermediary to drive sustainable growth and development.
Ciwara’s core objectives include:
Group JAD, the holding company behind Ciwara Capital, was also introduced. Operating across Europe and Africa, Group JAD aims to play a central role in ecological and energy transitions, as well as social entrepreneurship.
The event, presented by Moussa Bagayoko and Philippine de Breuvand, was attended by 19 participants at the Maison de la Microfinance. InFiNe’s members engaged with Ciwara’s leadership team on its mission and activities.
The speakers highlighted the pivotal role those strategic partnerships played in the creation and growth of Ciwara in 2023. Among these key partnerships, the International Fund for Agricultural Development (IFAD) stands out as a crucial financial partner, providing the vital funding that enabled the company to establish its foundation and scale its impact. Additionally, Investisseurs & Partenaires (I&P), a key technical partner, has contributed significantly to Ciwara’s success.
The speakers shared that these partnerships have already yielded significant results, including:
Zira Capital (Mali): A Malian fund focused on equity investments, Zira Capital provides strategic and operational support to startups, notably empowering women entrepreneurs.
LAFRICAMOBILE (Senegal): The first Senegalese aggregator of mobile services in French-speaking Africa, LAFRICAMOBILE drives linguistic inclusion and improves access to communication tools, contributing to job creation.
Eligibility Criteria for Investments: Ciwara employs sector-specific criteria tailored to the country and market. The company avoids sectors where it lacks expertise, ensuring investments are made where it can add the most value.
Technical Assistance: Ciwara’s technical assistance is provided locally through partners embedded in the regions or diaspora members who want to give time and expertise, ensuring support is tailored to the specific needs of invested businesses.
Profile of Future Investors: Confidence from foundational partners like I&P and the success of existing projects have been crucial in reassuring potential investors. Ciwara’s approach to project selection and management is designed to mitigate risks and enhance investor trust.
Monitoring Investment Impact: While Ciwara does not yet have a formal impact report, impact monitoring is integrated into its methodology and due diligence. Data is collected from invested companies, with a formal tracking system in development.
Exclusion Criteria: Ciwara excludes investments in industries linked to fossil fuels, arms, petroleum, or activities significantly contributing to carbon emissions, aligning with its commitment to sustainability.
Ciwara Capital is well-positioned to play a pivotal role in Africa’s economic transformation by leveraging the expertise of the African diaspora. Through strategic investments, Ciwara contributes to private sector development and creates lasting social and economic impacts across the continent.
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