In 2007, three international development institutions invested into the Spencon group with a view to partake in development of Africa. In addition to enhancing the groups’ capacity to execute projects in the region, the new institutional partners are also seeking investment opportunities, by way of PPP (Private Public Partnership) and property development projects, amongst others.
A brief on the Spencon institutional shareholders;
Emerging Capital Partners
ECP is the first private equity group to raise more than $1 billion for investment in companies across the African continent. The ECP team has been investing in Africa since 2000, initially as part of EMP Global before spinning out in 2005. Today, the firm has a seven-year track-record of investing in Africa through five successful funds.
ECP consistently delivers superior returns to investors through disciplined investing and partnering with a broad range of companies and industries across the African continent. ECP invests in companies that operate in business environments characterized by limited competition or in sectors where Africa has either a comparative advantage or an unmet need.
This strategy maintains diversification within ECP's investment portfolio and provides investors with superior, risk-adjusted returns that are generally uncorrelated to the U.S. and other global markets. http://www.empglobal.com
The Netherlands Development Finance Company
The Netherlands Development Finance Company (FMO) supports the private sector in developing countries and emerging markets in Asia, Africa, Latin America and Central and Eastern Europe. We do this with loans, participations, guarantees and other investment promotion activities. The goal is to contribute to the structural and sustainable economic growth in these countries and, together with the private sector, obtain healthy returns. These returns make FMO a valuable risk partner.
FMO builds bridges between entrepreneurs and capital, locally as well as across frontiers, for sustainable development and healthy returns.
A member of KfW Bankengruppe (KfW banking group)
DEG is a member of KfW Bankengruppe (KfW banking group), and has been financing and structuring the investments of private enterprises in developing and transition countries for more than 40 years. DEG is one of the largest European development finance institutions for the promotion of the private sector www.edfi.be/deg.htm
GuarantCo was conceived to help address and overcome existing constraints in the supply of local currency debt financing to infrastructure projects and to help match the demand for local medium and long-term funding and has helped structure a $30 million bonding and guarantee facility for the company.
WBC is a USA based financial institution receiving funding from OPIC. The company has been instrumental in setting up capex related funding lines for the business.
Spencon has received funding lines for the procurement of heavy duty machinery from Exim Bank USA.