Databank awarded Deal of the Year (Small Cap) at Private Equity Africa Awards

For the second consecutive year, Databank Agrifund Manager Limited (DAFML) was presented with the Private Equity Africa Deal of the Year (Small Cap) award during the PEA awards ceremony in London.

The fund manager was recognized for its investment in MOABLAOU, the largest table eggs business in Burkina Faso.

Following what has been an exceptionally strong year for private equity in Africa, the 4th Private Equity Africa PEA Awards celebrated the achievements in the market, focusing solely on the best-in-class achievements of investors and advisors in the industry. The ceremony, which was hosted at the prestigious Grosvenor House, London, saw 21 firms collect accolades in recognition of their investment and advisory services across Africa. Award recipients were selected by an independent panel of highly respected industry participants.

Brian Frimpong, Managing Partner of DAFML, received the award on behalf of the fund manager. He commented that such a repetition of success in a growing competitive market was not a coincidence. “The niche role played by DAFML along the private equity value-chain is core to the success of African private equity, as well as the companies who rely on the industry across the continent.” He added that the investment in MOABLAOU represented another venture by DAFML into a frontier market which was unpopular to private equity but had exciting untapped opportunities.

Ken Ofori-Atta, founder of Databank Group echoed that “ these awards embolden us to doggedly pursue our commitment to bring both capital and expertise to the SME Agriculture sector in Africa, the most critical but weakest and difficult link to achieve not only food sufficiency but to also create jobs and propel industrialization.”

In her closing remarks, Gail Mwamba, the Awards Chair and Editor of Private Equity Africa, said: “As the dynamic private equity market in Africa continues to go from strength to strength, this year’s awards have distinguished the innovative investment and advisory work and some of the region’s most transformative deals over the last year.”

Since its inception in 2012, DAFML has made investments in 8 companies across Sub-Saharan Africa (Burkina Faso, Cameroon, Ethiopia, Nigeria, Madagascar, South Africa, Zambia, and Zimbabwe) through its AAF-SME Fund.