Investisseur & Partenaire

(I&P)

Releasing the potential of SMEs and the financial sector

Promoting socially and environmentally responsible entrepreneurship

In Sub-Saharan Africa

Background

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Investisseur et Partenaire pour le Développement created in 2002 byPatrice Hoppenot, a prominent private equity figure in France. Withfriends, former colleagues and business partners, invested their funds todevelop SMEs in Africa

Shareholders: private individuals, companies, 2 DFIs: Proparco and EIB

Paris-based management company: I&P Conseil

Since 2011, it is lead by Jean-Michel Severino, former CEO of AgenceFrançaise de Développement (AFD) with 30 years experience in Africa

I&P Conseil is currently raising a new fund called I&P AfriqueEntrepreneurs ; it will maintain the same focus on the missing middle

Investment team growing from 6 to 9 investors, with offices in Africa

Support of specialized consultants that we coordinate

An impact investing strategy

OUR GOAL

Development of private sector, economic fabric and entrepreneurshipvalues in Africa

To spur local economic, social and environmental impact

OUR MEANS

Creation and development of high potential SMEs and MFIs that are…

… Competitive, autonomous and sustainable…

… with strong governance, social management and impact on theenvironment

We are currently setting up an ESG impact monitoring tool3

Investment profile : the missing middle and micro-entrepreneurs

• Most Private Equity Funds

• Local banks

• Foreign investors

Large companies

> € 2 m

• MISSING MIDDLESMEs

€ 150,000 to € 2 m

• MesofinanceSmall Entreprises € 50,000 to € 150,000

• Microfinance Institutions

Micro-Entreprises

< 50,000 €

I&P

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The « missing middle » opportunity

Widespread consensus on:

Underdeveloped SME fabric in SSA Instrumental role and potential of SMEs Market opportunities are considerable for African SMEs

Our vision : financing gap can be bridged by supporting skilled,structured and transparent entrepreneurs

Strong focus on the entrepreneur He/she has the know how

Can be complemented by specific TA missions

We bring what lacks the most: Long term capital

Strategic guidance

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SMEs profile

I&P invests in SMEs in their early, development stage or turnaround

Our primary focus is on francophone Western and Central Africa(including Ghana); opportunistic approach to East Africa (one goodexperience in Uganda)

Tickets range from EUR 150,000 to 1.5M

Diversified sectors (health, food-processing, agriculture, buildingmaterials, retail, services, microfinance…)

Strong potential for value creation

In search of mentoring and advice

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• I&P Investment Team does more than providing the usualmonitoring

• Its support includes especially:

Participation to structuring and organization

Capacity building/Training/Coaching

Transfer of knowledge

Access to professional networks

Support in finding additional funding or partners

Technical Assistance facilities granted by DFIs for specific technical support by external consultants that we coordinate

I&P Team contribution to portfolio companies

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Example 1 : Colaser, Senegal

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Example 1 : Colaser, Senegal

Activity : Eye surgery clinic

Promoters:4 ophtalmologists (2 Doctors and 2 surgeons); known at a forum

Stage at time of investment: start-up

I&P’s investment: € 500,000 (in 2007)

I&P’s pre-investment support : reshaped financial projections; reviewedmarket survey; helped get support from AFD (ARIZ) and local bank

I&P’s post-investment support: emphasis on administrative and financialmanagement; accounting systems; operational reporting; legal status;treasury management / accounts receivable; organizational audit;communication with local bank when adequate; technical diagnostic forsome specific maintenance problem; moral support

Current status: A reference in West Africa; Revenues around € 750,000;now profitable and almost done with the bank loan; around 20 jobs

Local impact9

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Example 2 : Biotropical, Cameroun

Activity : Export of organic mango and pineapple (dried or pulp)

Promoter: an industry expert; known throuh UNIDO

Stage at time of investment : development stage

Investment size: € 450,000 (in 2008)

I&P’s pre-investment support: Market analysis, technical diagnostic,negotiation with main French client (became a minority shareholder)

I&P’s post-investment support: reinforcing management team; deepdiagnostic and action plan following the difficulties of the first year;support / coaching on general management (directly and through localconsultant);

Current status: revenues around € 1Mil, profitable; I&P’s exit is likely tobe on another investor that will bring new resources to the company tohelp grow it further

Local impact10

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Example 3 : Bhelix, Benin

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Example 3 : Bhelix, Benin

Activity : Excavation, treatment and delivery of gravel stone

Promoter known through another shareholder of the company

Stage at time of investment: start up

Investment size: € 400,000 (in 2010)

I&P’s pre-investment support: reshaped financial projections; review ofmarket survey; technical and environmental audit (by one of our Nigerinvestees); social audit

I&P’s post-investment support: Financial and operational reporting;technical follow up by same consultant; coaching on general management;disbursed in several tranches, each one being linked to a specific actionplan

Current status: Positive operating income; already the leader in the sector;around 20 jobs

Local impact12

I&P Developpement track record : dynamic and profitable

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Portfolio as of December 2010:

€ 9.5 M invested in 30 investees : 23 SMEs and 7 MFIs

In the last 2 years, 14 SMEs and MFIs in portfolio for more than 3 yearshave reached an aggregate growth of 46% in revenues and 24% inoperating profit

Impact achievments:

1,400 permanent employees

MFIs outreach: 33,000 borrowers

Contact Details

I&P Conseil

Jeremy Hajdenberg

Investment Director

Tel: + 33 (0)1 58 18 57 10

Email: jeremy.hajdenberg@ip-conseil.com

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