Solon Capital Holdings

West Africa,Africa Education, Construction and real estate, Communications and IT Services

Solon Capital is an investment holding company based in Freetown, Sierra Leone.

Founded in 2010, Solon Capital Holdings currently has four investments with operations in Sierra Leone, Liberia, Guinea and Cote D’Ivoire.

The Solon team focuses on operating and building businesses in challenging markets, particularly start-ups and small to medium-sized enterprises (SMEs) in these regions.

Our investment

In 2017, CDC invested $20 million into Solon Capital Holdings. It is the first time we have invested into a vehicle with existing assets rather than a fully ‘blind-pool’. CDC’s funding will enable Solon to develop and grow businesses in the region. By using a permanent capital vehicle, Solon can offer greater flexibility and longer term financing to the businesses it invests in.

Expected impact

Businesses in Sierra Leone often struggle to raise the capital they need to grow, particularly if they need it for an extended period.

Our investment will enable Solon to successfully grow its existing investee companies and provide long-term capital to up-and-coming businesses in the region.

Solon will also provide strategic and operational expertise to fast-growth local firms that have the potential to expand into other markets, delivering economic growth and creating direct and indirect jobs.

Its previous investments include Flash Vehicles, one of the largest vehicle rental, leasing and fleet management companies in the region, as well as Rising Academies, a fast growing, high-quality school operator focused on increasing access to affordable education.

Environmental and social aspects

We will work with the fund managers to develop and implement an Environmental and Social Management System for this first-time fund. The Solon Foundation aims to advance education and promote improved health in some of the most marginalised communities in West Africa. The Foundation engages local communities to carry out a variety of non-profit initiatives with the aim of creating sustainable change.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, West Africa
Countries

For funds, the countries listed here are those the fund has invested in so far.

:
Sierra Leone
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.

:
Communications and IT Services, Construction and real estate, Education
Website:
http://www.soloncapitalpartners.com/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund manager:
Solon Capital Partners
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
June 2017
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$20m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius

Investments made by this fund

  • Active
  • Exited
Investment name Country Region Sector Start date Status
Rising International Education and Learning Limited Sierra Leone Africa, West Africa Education September 2017 Active
Solon TNS (Mauritius) Limited Sierra Leone Africa, West Africa Communications and IT Services September 2017 Active
Solon Transportation Company Limited Sierra Leone Africa, West Africa Infrastructure September 2017 Active
Solon Property Partners (Mauritius) Limited Sierra Leone Africa, West Africa Construction and real estate December 2017 Active
Adesha Limited Sierra Leone Africa, West Africa Financial services June 2018 Active