West Africa: Cardinalstone Secures $15m IFC Funding to Back West African SMEs

CardinalStone Capital Advisers has secured up to $15 million from International Finance Corporation to support fast-growing small and medium-sized enterprises across West Africa.

The funding will be deployed through CardinalStone Growth Fund II, a generalist private equity vehicle targeting businesses in Nigeria, Ghana and francophone West Africa. The fund focuses on consumer goods, healthcare, agribusiness, industrials and financial services.

Growth Fund II is structured as a $120 million vehicle…