Investisseurs & Partenaires (I&P) has launched Sinergi Burkina, a new fund dedicated to small growing businesses and start-ups in Burkina Faso, as part of the IPDEV2 project.

Hugues Vincent-Genod, Investment Officer for IPDEV2, said: "Sinergi Burkina is the first investment company dedicated to SMEs and start-ups in Burkina Faso. It will use local capital and local talent to finance 50 early-stage entrepreneurs with high growth and impact potential."

The fund is supported by institutional and private investors based in Burkina Faso (Société Générale du Burkina Faso, SONAR, Total Burkina) and abroad (SIDI, Incluvest), as well as individuals.

Sinergi Burkina intends to offer a new financing opportunity for small and growing businesses in Burkina Faso, as their capital needs are usually too small to be considered by commercial banks and foreign investors.

Sinergi brings investments between €30,000 and €300,000, but also a technical and managerial support to SMEs in the country, focusing on key value chains such as agribusiness, health and education.

The managing director of Sinergi, Hervé Hien, has broad experience of entrepreneurship issues in Burkina, as he worked several years for the RCPB, the largest microfinance network of the country.

Sinergi Burkina aims to build a portfolio of about 20 companies, and has already carried out a first investment in the company SIATOL, a young soybean processing company founded by Marcel Ouédraogo.

Sitatol works with more than 3,000 small producers and is the only company to locally produce soya oil to date.

Sinergi financial offer is complementary to I&P’s investments, which rank from €300 000 to €1.5m.

I&P portfolio currently includes two Burkinabe companies: Bakou Logistics and the Microfinance Institution ACEP Burkina.

I&P has strengthen its presence in the region with the opening of a new office in Ouagadougou in April 2015, managed by Sidy Niang.

The office facilitated the prospection and the follow-up of the investments in Burkina Faso, Mali and Niger.

I&P said it aims to make two to three new investments in this zone by the end of 2017.

IPDEV2, the first incubator and sponsor of African impact funds, held the signing of its first closing on October 20, 2015.

IPDEV2 aims to build a network of 10 impact funds in 10 African countries over the next 10 years, in order to finance the small and early-stage businesses of the continent.

Investisseurs & Partenaires is an impact investment group dedicated to African SMEs.

Since its creation in 2002, I&P has invested in about 60 companies, located in 15 African countries.