YEELEN Financial Fund, a dedicated financial sector fund for the WAEMU region managed by Yeelen Capital, a member of the Cauris Management group, has announced a significant investment in MANSA BANK, a young and dynamic bank in Côte d’Ivoire.
The YEELEN Financial Fund’s investment of FCFA 5 billion (approximately €7.62 million) was executed as a subordinated loan convertible into shares. This strategic move aims to bolster the bank’s equity capital and support its ambitious development plan.
Benjamin Kouakou, Managing Partner at Cauris Management / Yeelen Capital, responsible for YEELEN Financial Fund, commented on the investment: “YEELEN Financial Fund’s investment will help strengthen the bank’s equity capital and finance its development plan, which focuses on increasing loans to SMEs, automating and digitizing the bank’s processes, and enhancing governance.”
El-Hassana Kaba, CEO of MANSA BANK, expressed his enthusiasm for the investment: “Since MANSA BANK began operations in 2020, it has consistently experienced very strong growth due to its excellent market knowledge. We’ve achieved in four years what typically takes 12 to 15 years. In the banking sector, the level of shareholders’ equity is crucial. To maintain and sustain strong growth, continually strengthening our capital base is essential.”
Noël Yawo Eklo, Co-Founder of Cauris Management, added: “MANSA BANK has made remarkable progress in recent years, which is quite rare for new entrants in the banking sector. Our role is to support this development plan, which is advancing faster than expected. We are delighted to establish this partnership to strengthen the bank’s equity capital, ensuring compliance with new regulations and supporting rapid growth.”
About Cauris Management / Yeelen Capital Group
Cauris Management is a private equity fund manager that has been active in the SME segment in West Africa since 1995. In 2016, it created Yeelen Capital to manage the YEELEN Financial Fund, a €50 million fund dedicated to the financial sector in the WAEMU region. Yeelen Capital comprises Cauris Management, Paul Derreumaux (founder of Bank of Africa Group), Amadou Raimi (former President of Deloitte France and Vice-President of Deloitte World), and Finactu, a consulting firm specializing in finance and insurance in Africa.
The Cauris Management / Yeelen Capital group has made 51 investments, including 44 exits, since its inception. Its portfolio includes investments in diverse sectors such as agribusiness, financial services, hospitality, telecoms, distribution, and energy. The group operates from offices in Lomé and Abidjan.
This partnership marks a significant step forward in MANSA BANK’s journey, reinforcing its foundation and enabling it to continue its impressive growth trajectory while adhering to evolving regulatory standards.
