Enko Capital has invested in Nigeria Mortgage Bank Mortgage Bank Ltd. (IHMB) through the Africa Private Equity Fund (“EAPEF”).
This is the fifth investment for EAPEF, which supports the IHMB expansion strategy in Nigeria. The investment will be used to increase the capital of the IHMB to increase its loan portfolio and improve its operational performance and efficiency through the participation of EAPEF in the strategic direction of the company at the level of the Board of Directors. ‘administration.
ECM Director Ralph Gilchrist, who led the transaction on behalf of the investor, said, “EAPEF is delighted to team up with the shareholders and management of a well-established player in the Nigerian mortgage industry. . Given the breadth and reputation of IHMB in the market, as well as the inherent growth potential of the Nigerian mortgage industry, we believe that IHMB is well positioned to take advantage of the vast potential of the untapped Nigerian mortgage market and we We are looking forward to helping develop business in Nigeria. ”
Imperial Homes Mortgage Bank Limited (www.imperialmortgagebank.com) is a mortgage bank licensed by the Central Bank of Nigeria to engage in mortgage lending and related services. It was incorporated in 1992 as Citizens Savings and Loans Limited and was acquired by Guaranty Trust Bank plc in 2007 as a wholly-owned subsidiary. It was renamed GTHomes Limited, in line with its other branding activities. In September 2010, CBN imposed new regulations on the financial services sector, resulting in the divestment of GTHomes’ GTBank plc in 2012 for the benefit of its current shareholders. Following the divestment, the company became Imperial Homes Mortgage Bank Limited. The IHMB is accredited as one of 10 national mortgage banks and is widely regarded as one of the leading primary mortgage banks in Nigeria in terms of total assets and profit.
Enko Africa Private Equity Fund is a $ 64 million private equity fund established in April 2014 to invest in growth companies in Africa from a wide range of economic sectors. EAPEF’s investment is focused on mid-sized businesses led by entrepreneurs and supported by strong management. He is particularly interested in companies that have ambitions for a possible future IPO. Enko Capital Managers, investment manager for EAPEF, is part of Enko Capital, an asset management company dedicated to Africa, based in London and Johannesburg, which also manages a leading fund focused on African equities. listed as well as debt funds. EAPEF’s founders and partners, Cyrille Nkontchou and Ralph Gilchrist, have more than 38 years of combined private equity and private equity experience in Africa, and draw on a vast regional network of alliances strategic. They have invested, directed and advised more than $ 500 million in investments in Africa.
