A $330B structural gap. A continent of 1.4 billion people. 0.3% of global private credit deployed. The most compelling private credit opportunity of the decade.
Every major impact and return theme in African private credit flows through the financial inclusion thesis.
We do not need to be a generalist to be diversified. We need to be a specialist in the right place. Africa's structural credit gap is not a temporary dislocation — it is the operating environment. Our thesis is built for it.
Warehouse lines, working capital revolvers, and term loans to fintech lenders and digital credit platforms. Every $1M in debt capital enables 500–2,000 new loans to underserved borrowers. This is the engine of the thesis.
Women represent 55% of the global unbanked. Closing the gender credit gap is financial inclusion — executed with a gender lens. Facilities to women-led institutions and 2X Challenge-qualifying borrowers unlock DFI concessional capital.
Pay-as-you-go solar, mini-grids, and e-mobility are delivered via mobile-money-enabled micropayments — a fintech model at its core. Clean energy access and financial inclusion are the same transaction. 600 million Africans without electricity.
80 million African farmers receive agricultural payments in cash. Digitising agricultural supply chains via agri-fintech is the next frontier of inclusion — and a large, underserved credit market.
PGI Fund is our institutional investment vehicle — a private credit fund deploying capital into senior secured debt facilities to fintech lenders and financial inclusion platforms across West Africa.
The Fund is structured for institutional LPs: quarterly reporting, independent administration, institutional-grade documentation, and a rigorous ESG and impact measurement framework.
Fund Type
Private Credit — Senior Secured
Geography
West Africa — Nigeria First
Currency
USD-Denominated Facilities
Target LP Base
Institutional, DFI, Family Office
Impact Framework
IRIS+, 2X Challenge, TCFD
Quarterly impact reporting to LPs
Nigeria is the largest economy in Africa, home to one-third of the continent's entire fintech market, and the most data-rich financial inclusion environment on the continent.
Our West Africa anchor reflects a deliberate sequencing strategy. We build deep expertise, relationships, and track record in Nigeria before expanding into neighbouring markets.
And the opportunity is not closing. The $330B structural credit gap across Africa grows with every new fintech that scales, every new smartphone that connects, every new mobile money account that is opened.
$9B
Unmet SME credit demand — Nigeria alone
IFC, 2022
1,000+
Fintech companies operating in Africa — nearly tripled since 2020
European Investment Bank, 2024
$65B
Projected Africa fintech revenue by 2030 — 13x growth from today
McKinsey & Company
475M
African mobile internet users by 2025 — expanding addressable market
GSMA, 2024
Our approach translates this thesis into institutional-grade credit instruments.