Africa Eats started just four and a half years ago, and has achieved some remarkable milestones since. Indeed, one of the companies in its portfolio tripled its revenue in 2023 alone, to $6.4 million.
I was in Lagos, Abidjan, and Accra last week. I have been to Nigeria several times before and Cote d’Ivoire once before, but this was my first visit to Ghana.
Plus: my Investment Approach for the Fund.
Last week I made my second investment research trip to Nigeria. This time, I not only visited the bustling, chaotic commercial capital Lagos, I also had the opportunity to visit the capital Abuja, for the MTN Nigeria Capital Markets Day event, November 14-15.
Africa Global Funds, an industry magazine that covers African asset management, has released their January 2023 issue with updated performance figures for African-focussed investment funds. In it, you will find that African Lions Fund is just about the only Africa frontier equity fund to make money in 2022.