{"id":80494,"date":"2024-09-04T00:00:00","date_gmt":"2024-09-03T21:00:00","guid":{"rendered":"https:\/\/www.capmad.com\/afrique-subsaharienne-attire-12-des-investissements-dimpact\/"},"modified":"2024-09-04T23:00:38","modified_gmt":"2024-09-04T20:00:38","slug":"afrique-subsaharienne-attire-12-des-investissements-dimpact","status":"publish","type":"post","link":"https:\/\/www.capmad.com\/fr\/investissement-fr\/afrique-subsaharienne-attire-12-des-investissements-dimpact\/","title":{"rendered":"Afrique subsaharienne attire 12 % des investissements d\u2019impact"},"content":{"rendered":"

L’investissement d’impact suscite un int\u00e9r\u00eat croissant. L’Afrique subsaharienne, avec un potentiel notable, capte d\u00e9j\u00e0 12 % des flux mondiaux. Cependant, le manque d’analyses approfondies freine encore ces opportunit\u00e9s.<\/b><\/p>\n

Mieux comprendre d\u2019investissement d\u2019impact<\/h2>\n

Le monde de la philanthropie et de l’investissement se divise en trois grandes cat\u00e9gories avec des objectifs distincts\u00a0 : la donation, l’investissement d’impact et l’investissement traditionnel. Ces approches illustrent la diversit\u00e9 des strat\u00e9gies disponibles pour allouer des ressources en fonction des objectifs financiers et d’impact social ou environnemental recherch\u00e9s.<\/p>\n

Caract\u00e9ristiques de l’investissement d’impact<\/h3>\n

La Fondation pour les \u00e9tudes et recherches sur le d\u00e9veloppement international (FERDI) souligne, dans son rapport \u00ab L\u2019investissement d\u2019impact en Afrique : enseignements d\u2019une cartographie du secteur <\/i>\u00bb, l’absence de consensus sur la d\u00e9finition de l\u2019investissement d\u2019impact dans la litt\u00e9rature existante. Ce type d\u2019investissement vise \u00e0 concilier rendement financier et b\u00e9n\u00e9fices sociaux ou environnementaux, en adoptant des approches directes ou indirectes.<\/p>\n

Dans une approche directe, la priorit\u00e9 est donn\u00e9e \u00e0 l’impact social, avec un objectif financier en second plan. \u00c0 l’inverse, l’approche indirecte met d’abord l’accent sur la rentabilit\u00e9 financi\u00e8re tout en cherchant \u00e0 g\u00e9n\u00e9rer un effet social positif. Les attentes en mati\u00e8re de rendement varient, allant d’un niveau comparable aux rendements de march\u00e9 \u00e0 l\u00e9g\u00e8rement inf\u00e9rieur. Tandis que l\u2019impact social ou environnemental recherch\u00e9 demeure important.<\/p>\n

Concept de l’intentionnalit\u00e9 et l\u2019additionnalit\u00e9<\/h3>\n

L’investissement d’impact<\/a> se distingue des formes de financement traditionnelles par deux concepts cl\u00e9s : l’intentionnalit\u00e9 et l’additionnalit\u00e9. Les investisseurs classiques peuvent aussi avoir des effets positifs et respecter les normes environnementales, sociales et de gouvernance (ESG).<\/p>\n

Cependant, le fonds d’impact vise en priorit\u00e9 \u00e0 g\u00e9n\u00e9rer des b\u00e9n\u00e9fices sociaux, environnementaux et \u00e9conomiques. Cette approche met l’accent sur l’impact positif avant m\u00eame de consid\u00e9rer l’allocation de capital ou la viabilit\u00e9 financi\u00e8re. Les rendements financiers attendus varient, allant de niveaux tr\u00e8s concessionnels \u00e0 des retours sup\u00e9rieurs \u00e0 ceux du march\u00e9.<\/p>\n

L’additionnalit\u00e9, pour sa part, se d\u00e9finit par la r\u00e9alisation d’un investissement qui n’aurait pas \u00e9t\u00e9 possible sans l’intervention de l’investisseur d’impact. En plus de fournir des capitaux, cet investisseur contribue \u00e0 accro\u00eetre les effets positifs sur le d\u00e9veloppement en mettant en lumi\u00e8re ces r\u00e9sultats.<\/p>\n

Paysage de l’investissement d’impact en Afrique subsaharienne<\/h2>\n

La part d\u2019investissements d\u2019impact en Afrique subsaharienne d\u00e9passe celle des investissements directs \u00e9trangers (IDE) dont la moyenne de 3 % du flux mondial. Cependant, le volume total demeure relativement limit\u00e9, s’\u00e9levant \u00e0 2,51 milliards USD sur un total mondial de 20,57 milliards USD. En comparaison, les IDE et l’aide publique au d\u00e9veloppement dans la zone atteignent des montants beaucoup plus \u00e9lev\u00e9s. Par exemple, soit respectivement 70,15 milliards et 53,97 milliards USD en 2021.<\/p>\n

Malgr\u00e9 ces chiffres modestes, le financement d’impact y conna\u00eet une croissance significative, avec un taux annuel moyen de 14,2 %. Le rythme reste inf\u00e9rieur \u00e0 celui observ\u00e9 dans d’autres r\u00e9gions comme les \u00c9tats-Unis et le Canada, o\u00f9 la croissance atteint 53,4 %.\u00a0 En revanche, la r\u00e9gion du Moyen-Orient et de l’Afrique du Nord enregistre une l\u00e9g\u00e8re baisse de\u00a0 0,44 %.<\/p>\n

Principales cibles b\u00e9n\u00e9ficiaires<\/h3>\n

La majorit\u00e9 des entreprises cibl\u00e9es se situent au Nigeria, en Afrique du Sud et au Kenya, soit les march\u00e9s les plus dynamiques de la r\u00e9gion. Les secteurs les plus attractifs pour les investisseurs d’impact incluent l’agriculture, la finance, l’\u00e9nergie, la sant\u00e9 et la technologie. Cette pr\u00e9dominance refl\u00e8te les principaux enjeux de d\u00e9veloppement du continent et le potentiel de rentabilit\u00e9 des entreprises dans ces domaines. En revanche, les fonds d’impact restent presque absents des hydrocarbures, des grandes entreprises de t\u00e9l\u00e9communications et ne ciblent g\u00e9n\u00e9ralement pas les entreprises matures.<\/p>\n

Investisseurs d’impact : Les locaux restent minoritaires<\/h2>\n

La majorit\u00e9 des fonds op\u00e9rant sur le continent proviennent de l’ext\u00e9rieur. Les cinq principaux investisseurs d’impact dans le continent sont :<\/p>\n

    \n
  • Mirova, une soci\u00e9t\u00e9 de gestion d’actifs en France<\/li>\n
  • The Rise Fund, situ\u00e9 aux \u00c9tats-Unis<\/li>\n
  • Blue Orchard Finance, un fonds priv\u00e9 \u00e0 financements multiples bas\u00e9 en Suisse et membre du Groupe Schroders.<\/li>\n
  • Africa Finance Corporation, au Nigeria<\/li>\n
  • New Forests, bas\u00e9 en Australie.<\/li>\n<\/ul>\n

    Les investisseurs locaux ne repr\u00e9sentent que 16 % du total des actifs sous gestion. Ainsi, malgr\u00e9 un certain dynamisme, la pr\u00e9sence locale reste faible dans ce secteur. Apr\u00e8s analyse des profils juridiques, pr\u00e8s de 85 %\u00a0 des investisseurs d’impact sont des acteurs priv\u00e9s ind\u00e9pendants. Ces bailleurs utilisent une vari\u00e9t\u00e9 d’instruments financiers, incluant fonds propres, mezzanine, dette et garanties. Toutefois, les fonds propres constituent environ 50 % des contributions financi\u00e8res, montrant une pr\u00e9f\u00e9rence pour ce type d’investissement.<\/p>\n

    Les fonds d’investissement d’impact de taille moyenne, g\u00e8rent des actifs entre 1 million et 250 millions USD, repr\u00e9sentent plus de 50 % des fonds recens\u00e9s. En revanche, les m\u00e9ga-fonds, disposant de plus d’un milliard USD d’actifs, ne constituent que 7,1 % du nombre total des v\u00e9hicules d’investissement d’impact dans la r\u00e9gion. Malgr\u00e9 leur faible nombre, ces m\u00e9ga-fonds contr\u00f4lent plus de 80 % des actifs totaux sous gestion, indiquant une concentration significative des ressources financi\u00e8res.<\/p>\n","protected":false},"excerpt":{"rendered":"

    L’investissement d’impact suscite un int\u00e9r\u00eat croissant. L’Afrique subsaharienne, avec un potentiel notable, capte d\u00e9j\u00e0 12 % des flux mondiaux. Cependant, le manque d’analyses approfondies freine encore\u2026<\/span><\/p>\n","protected":false},"author":76,"featured_media":80496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7954],"tags":[],"location":[7949],"class_list":["post-80494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-en","location-afrique-fr"],"acf":[],"yoast_head":"\nAfrique subsaharienne attire 12 % des investissements d\u2019impact<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Afrique subsaharienne attire 12 % des investissements d\u2019impact\" \/>\n<meta property=\"og:description\" content=\"L’investissement d’impact suscite un int\u00e9r\u00eat croissant. 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