Geographic Focus
The geographical focus of the Fund’s investments encompasses the Economic Community of West African States (’’ECOWAS’’) and the Economic Community of Central African States (’’ECCAS’’) regions of sub-Saharan Africa. It also includes Morocco, Mauritania, Rwanda and Uganda which are economically integrated with ECOWAS and ECCAS.

Within the Region, the Fund has identified the following 8 core countries (the “Core Countries”) in which it intends to invest a significant share of its Commitments. The Core Countries were selected for the following characteristics:

• They are economic anchors within the Region (collectively, they represent more than 60% of the GDP of the Region);
• They are expected to exhibit robust GDP growth (except for Cote d’Ivoire which is rebounding from recent internal strife);
• Several of the companies the Fund is targeting are headquartered or have significant activities in the core countries.

Angola, Cameroon, Ivory Cost, Gabon, Ghana, Nigeria, Democratic Republic of Congo, Senegal.

Legend
  ACRF Core Countries
  Other countries covered by ACRF