Unlocking the potential of emerging economies remains a significant area of opportunity for private finance however there is a persistent struggle to attract capital where it’s needed most. We met and connected Sandrine Henton of EG Capital, and Vimal Shah, Co-Founder and Chairman of Bidco Group, in Nairobi last year during the Bridging Africa-Europe SDG Investment Summit. Through this article, we invite them to share their story to illustrate how collaboration is unlocking capital for the region: connecting people and capital across sectors, perspectives and borders.

Tell us a bit more about your history with Building Bridges and the relationships that have been built since you first connected with us?

Vimal: Building Bridges has been instrumental in connecting us with like-minded investors who share our vision for sustainable development in Africa. Also having a shared definition of SUSTAINABILITY helps. The relationships we’ve built through this network have been invaluable in driving forward our initiatives and addressing the continent’s most pressing challenges.

Sandrine: Since first engaging with Building Bridges, we have leveraged their platform to forge and deepen collaborations with Swiss family offices, foundations, and impact-driven organizations, strengthening our ties within the local philanthropy ecosystem.

There’s a lot of talk about capital still moving in sustainable finance, and especially for Africa — What evidence are you both seeing that certain investors are staying the course?

Vimal: What we are witnessing is a profound shift in the investment landscape. Investors who understand the long-term value and impact of sustainable finance are committed to staying the course. The opportunities presented in Africa are amazing in potential.  At Bidco, we’ve seen firsthand how patient capital can drive transformative change. Our partnerships with investors who are dedicated to Africa’s growth have not only sustained but have also inspired new investments. This continued commitment is a testament to the resilience and potential of the African market once there is a confluence of Capital and ground level execution ability.

Sandrine: Since EG Capital’s initial concept was selected as one of the climate adaptation solution, and presented for the launch of Project Drawdown at the International School of Geneva back in 2018 together with Nobel Prize winner Jacques Dubochet, we see that Swiss investors rallied before, and this Swiss-base is holding, primarily thanks to family offices such as Swiss holding Regenerative who have joined the Fund at its anchor closing.

We’re also seeing new Swiss investors, both public and private sector investors, considering joining our fund during 2025, which is focused on 100% gender-lens investing in Food, Health, Education and Climate Adaptation sectors in Africa. A lot of good momentum has happened just over the last few weeks. I’ve just come from the AVCA (African Private Capital Association) Conference in Lagos, Nigeria, leading a panel on Family Fortunes Powering 10x in Africa – and it is incredible how this small, yet tight-knit community that invests in Africa is coming together at this time. Despite the bad news we hear, this community, both LPs and GPs alike, are stepping up.

I was especially thrilled to have one of our existing anchor investors, Fundacion ANESVAD, with us, along with three family offices (new investors) eager to discover what investing in Africa is all about.  Our panel, which included TenGen Family Office, TY Danjuma Family Office, and was moderated by the African Philanthropy Forum, discussed the growing role of family offices as both allocators and direct investors in Africa’s private capital ecosystem.

Everyone agrees collaboration is essential, but what does that actually look like in practice—especially when bridging financial, technical, and local expertise?

Vimal: Collaboration is about leveraging each other’s strengths and expertise to create a greater impact on the ground in Africa as that is where the need is the biggest. At Bidco, we’ve partnered with various stakeholders, including governments, NGOs, and private sector players, to implement projects that address local needs. For instance, our collaboration with local farmers has enabled us to secure sustainable raw materials while empowering the farmers economically and also giving livelihoods for rural farming communities too. Additionally, by working with technology providers, we’ve introduced innovative solutions that improve efficiency and productivity. It’s about creating a synergistic effect where each partner contributes to and benefits from the collective effort.

Sandrine: Building Bridges events are vital for ecosystem connections. At the latest conference I met a UBS Optimus colleague who shared a model he had personally built for measuring investments’ deeper impact—reducing vulnerability and boosting climate-shock resilience. We’ve adopted this tool as our baseline for climate adaptation measurement and tied 50 % of our carried interest to resilience and gender-equity targets. Through this collaboration, EG Capital also joined UNEPFI’s community of practice for climate adaptation-metrics and the Global Alliance for Resilience Investments (GARI), unlocking new investment opportunities. We’re also developing a local-currency facility with support from existing investors and partners.

Another area where collaboration has been strong since joining the discussion convened by the Global Alliance Against Poverty and Hunger and the Swiss Agency for Development and Cooperation (SDC) at Switzerland House in Davos is in food security and childhood nutrition. We’re piloting compact multigrain and whole-grain systems for sorghum, millet, beans and legumes, reducing reliance on imported wheat and maize. Supported by the Rockefeller Foundation and the Fortified Wholegrain Alliance, this innovation promises scalable school-meal and rural-nutrition solutions.

There is an understanding that local investors remain cautious about private capital, often due to lack of familiarity and under-served capital markets. What have you done differently to build trust and shift the model—and where is it starting to pay off?

Vimal: Building trust with local investors requires a deep understanding of their concerns and priorities. At Bidco, we have focused on creating transparent and mutually beneficial partnerships that are authentic and trust at shareholder level to know that there are going to be issues but we shall be totally united in overcoming them. We engage with investors through regular communication, sharing and being totally safe in discussions, and by showcasing the tangible impact of our projects and what we need to work on to bring global best practices and make them Africa’s NEXT practices. By demonstrating commitment to local development and delivering consistent results, we’ve been able to build confidence and encourage more local participation in private capital markets.

Sandrine: Local businesses have indeed had bad experiences with foreign capital. Foreign investors dominated early markets, often misunderstood the local context, and relied on open-ended equity structures with significant exit risks. Kenyan pension funds especially have avoided private equity markets. We’ve seen short-term investors come in and out without creating value. We’ve taken a different path—focusing on debt products and building long-term partnerships. This is about education, transparency and consistency. And trust has to be built. You feel it in the conversations.

From our perspective at EG Capital, family offices are partners who come not only at the fund level, but are actively engaged as operating partners & strategic long term investors at the asset level too. People like Vimal are strategic. They can unlock far more for the continent. We also discussed how blended finance structures with 1st Loss Junior Equity, and 2nd Loss Guarantees can help mobilize private sector capital, and we are excited to start working together with public sector investors, and DFIs to mobilize financing for climate adaptation and gender equity.

Finally, what would you say to those in finance who are sitting on the sidelines when it comes to adaptation and equity?

Vimal: To those hesitating on the sidelines, I would say this: Africa remains the LAST FRONTIER. Africa will be a big story once people realise the True Size of Africa and the future belongs to those who are bold enough to invest in continual change. Adaptation and equity are not just moral imperatives; they are critical to sustainable growth and resilience. By investing in these areas, you are not only contributing to a better world but also positioning yourself for very long-term success. Seize the opportunity to be part of the solution. Your investments today will shape the world of tomorrow and you will get exponential returns in the long run.

Sandrine: My message to the Building Bridges community is this: Go beyond your own interest or your own initiative. It’s not enough to tick a box or say you’re investing in priority areas. It’s how you do it: dare to broaden your own perspectives. Partner. Collaborate. Try to understand what’s really happening in local contexts. And trust. Trust what’s already working. That’s what delivers the real dividend.

We Build Bridges Storytelling Series

Building Bridges is more than just an event—it’s a space for meaningful collaboration, fresh perspectives, and lasting connections. Through our storytelling series, we highlight the personal experiences that shape each edition. If you have a story to share about your journey at Building Bridges 2024—whether it’s a key insight, a memorable moment, or the impact of the bridges built—we’d love to hear from you!

Do you have a bridge-buidling story to share? Click here to submit one for review.