The ALCB Fund was initiated by KfW Development Bank on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) in 2012.

KfW gives impetus to economic, social and ecological development worldwide. As a promotional bank under the ownership of the Federal Republic and the Länder (federal states), it offers support to encourage sustainable improvement in economic, social, ecological living and business conditions, among others in the areas of small and medium-sized enterprises, entrepreneurship, environmental protection, housing, infrastructure, education finance, project and export finance, and development cooperation.

For more details, please see www.kfw.de


IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

Fund Manager

LHGP Asset Management is the appointed Fund Manager to the ALCB Fund. LHGP Asset Management offers unrivaled experience in African debt capital markets with substantive coverage across the continent.

LHGP Asset Management (www.lhgp.com) is an investment bank, based in London and Nairobi, bringing capital markets expertise to development finance initiatives in Africa and other frontier markets. Authorized and regulated by the Financial Conduct Authority (FCA), LHGP Asset Management’s experience includes fund management, capital markets and financial advisory work across financial inclusion, renewable energy, agriculture and health sectors. In 2014 it won the Financial Times/ IFC Award for “Achievement in Transformational Finance”.

United Capital is subcontracted by LHGP Asset Management to carry out certain fund management related activities. United Capital is a leading African financial and investment services Group headquartered in Lagos. Through its Investment Banking business, it has built a track record in executing complex transactions across the African continent, particularly in project finance advisory and capital markets.


The Fund Administrator is Estera Management (www.estera.com), based in Port Louis, Mauritius. Estera is a world-leading provider of offshore fiduciary and administration services with over 350 professionals across 10 jurisdictions.


KPMG is a professional service company and one of the Big Four auditors. The company is responsible for the annual audit of the ALCB Fund.