Advanced Finance and Investment Group (AFIG) to raise USD200 million investment for SMEs in Africa

By Staff Reporter

Apr 10, 2014 01:53 PM EDT

Pope Madiaw Ndiaye, Advanced Finance and Investment Group’s CEO, announced the AFIG would raise USD200 million in two years’ time. The investment would be a part of a deal his company had committed to support SMEs in Africa, reported Ventures Africa.

During the Reuters Africa Investment Summit in South Africa, Ndiaye said, “African entrepreneurs tend to be some of the loneliest people out there because they don’t have a tremendous amount of quality support services like in the U.S. or Europe, where you can call the likes of McKinsey or BCG (Boston Consulting Group).”

The report went on saying AFIG argued that the small and medium enterprises in South Africa do not need financing alone but management and operational knowledgeable. Given the funds and expertise, SMEs would be empowered for growth in the country.

AFIG operates as a private equity firm that provides corporate clients with skill in finance, account and auditing.

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