FSDH Mer­chant Bank an­nounces in­vest­ment by AFIG Funds

Financial Nigeria Magazine - - Finance -

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.

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