TanzaniaInvest conducted an exclusive interview with Frannie Leautier, Chief Executive Office of the recently launched MKOBA private equity fund. MKOBA focuses on investing in African small and medium enterprises. TanzaniaInvest and Mrs. Leautier discuss the rational, the strategy and the ambitions of MKOBA, and the investment opportunities available.
TanzaniaInvest: What’s the origin of MKOBA private equity fund and why such focus on small and medium enterprises, in 8 African countries namely Tanzania, Ivory Coast, Democratic Republic of Congo, Ethiopia, Liberia, Mozambique, Rwanda, Sierra Leone, and South Africa?
TanzaniaInvest: What’s the origin of MKOBA private equity fund and why such focus on small and medium enterprises, in 8 African countries namely Tanzania, Ivory Coast, Democratic Republic of Congo, Ethiopia, Liberia, Mozambique, Rwanda, Sierra Leone, and South Africa?
Frannie Leautier: MKOBA private equity fund is the realization of a group of executives who came together to fill a perceived gap in the capital available for small and medium enterprises in Africa.
We realize that small and medium enterprises really create the bulk of the jobs in Africa, between 60% and 80%, depending on the country.
These are the companies that have the hardest time having access to capital; even those that have very important niche markets, ideas and opportunities for expansion, because of lack of adequate collateral.
Because the way the banking sector works, the demands for collateral are mostly real estate based, and small and medium enterprises, don't own much that is capitalized in physical terms.
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