FSDH Merchant Bank announces investment by AFIG Funds
FSDH Merchant Bank, a Nigerian financial services group, has announced that Advanced Finance and Investment Group (AFIG Funds), a leading African private equity fund manager, has completed an investment in the Bank. The investment, whose amount was undisclosed, was made through AFIG Funds’ Atlantic Coast Regional Fund (ACRF).
"We are pleased to become a shareholder in FSDH, a well-established financial services group in Nigeria with exciting growth prospects and a long track record of strong performance,” said Papa Madiaw Ndiaye, CEO of AFIG Funds.
FSDH provides an array of services including merchant banking, corporate banking, investment banking, asset management and pension fund management.
Ms. Hamda Ambah, the Managing Director of FSDH Merchant Bank, said: "We are delighted to welcome AFIG Funds as a shareholder of the Bank. We have built a strong relationship with the AFIG Funds team over time, and most recently in the context of this transaction."
AFIG Funds has two funds under management: the Atlantic Coast Regional Fund, and AFIG Fund II. AFIG Funds, which makes growth equity investments across a diversity of sectors, is focused on West, Central and East Africa. AFIG Funds is registered in Mauritius with an office in Dakar, Senegal.