The fund I&P Afrique Entrepreneurs (IPAE) welcomes a new company in its portfolio by partnering with the bakery Tincy, based in Benin. IPAE follows an active investment pace in Sub-Saharan Africa with six field offices based on the continent, in West Africa, Central Africa and Madagascar.
Created in 2009, Tincy Boulangerie is a semi-industrial bakery that produces and distributes a wide variety of breads in Cotonou and its surroundings. The company has developed a wide distribution channel in the city and surrounding areas: Tincy has opened a shop, 24 kiosks “Le Boulanger” and has partnered with shopkeepers and several hostels and airline companies.
Gatien Adjagboni, founder and director of Tincy, is determined to structure the bakery sector in Benin. He was notably elected president of the National Association of Bakery Owners, which gathers a dozen of the sector professionals. To date, the association is the first and unique syndicate of the bakery sector in Benin.
Tincy is expanding rapidly and is working on new projects, that I&P aims to support: improve the quality and the management of the production, double the production capacity and start a pastry activity to diversify the range of products. IPAE has invested in equity and quasi-equity and owns 48% of the company, for a five-year period.
Investisseurs & Partenaires already counted three Beninese companies in its portfolio: Bhélix, managed by Narcisse Zolla, Carotech Bénin, managed by Yves Modeste Agbo and Le Nomad, managed by Adédogni Abimbola. With Tincy, the fund IPAE makes its first investment in the country.
I&P Afrique Entrepreneurs is an impact fund dedicated to small and medium enterprises based in Sub-Saharan Africa with financing needs comprised between 300 000 and 1.5 million euros. The fund currently supports more than twenty companies in various sectors (microfinance, health, agro-industry…) and aims to close 5 to 8 new investments in West Africa in the next two years.