Anne-Marie Chidzero is a trailblazer in African private equity, serving as the Chief Investment Officer of FSD Africa Investments (FSDAi).
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She has a rich background in finance and development, having co-founded Alitheia IDF Managers, an investment firm focusing on women-led businesses, and served as the CEO of FSD Mozambique. These roles laid the groundwork for her current position at FSD Africa Investments, where she is at the forefront of deploying catalytic capital to address some of Africa's most pressing financial challenges.
FSD Africa, a specialist development finance institution established by the UK government, aims to make finance work for Africa's future. FSDAi, the investment arm of FSD Africa, emerged in 2017 to address the need for innovative financial solutions. "Catalytic capital, willing to take on significant risk, can drive new market strategies and substantially benefit the FSD Africa agenda," Chidzero explains. This approach involves supporting financial sector growth through regulatory engagement, technical assistance, and strategic investments.
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At FSDAi, Chidzero aims to drive impactful investments across Africa, particularly advocating for sustainable development and gender equity.
FSDAi’s investment strategy – "test, accelerate and mobilise" – focuses on testing new financial solutions, accelerating growth, and mobilising additional capital. A prime example is the investment in Onafriq, a company enhancing digital financial interoperability across borders. This early-stage investment facilitated seamless remittances and significantly scaled the company’s operations, exemplifying FSDAi's role in market innovation.
"We backed Onafriq at a time when few were willing to take the risk," Chidzero recalls. This investment enabled Onafriq to raise subsequent funding and achieve substantial growth, underscoring the importance of early-stage risk capital in driving impactful financial solutions.
Chidzero also emphasises the importance of supporting a low-carbon economy and investing in enterprises that empower women to bridge the financing gap. FSDAi has committed over $114m in catalytic capital to support 19 investments across various sectors, enabling millions of people to access finance and basic services.
"Africa has many assets that can help the world achieve its CO2 emission targets," she notes, highlighting renewable energy resources and natural capital. FSDAi’s investment in Kavex, a carbon credits trading platform, exemplifies this ambition. By aggregating smaller issuers of carbon credits and enabling them to trade on a larger scale, Kavex has facilitated significant environmental and economic benefits.
A strong advocate for gender equity, Chidzero has integrated a gender lens into FSDAi's investment strategy. "You cannot have an efficient, well-functioning financial sector when 50% of the population lacks access or decision-making power," she asserts. FSDAi's investments in gender-focused enterprises, such as WIC Capital in Senegal and Arua Capital in Nigeria, demonstrate this commitment. These investments aim to bridge the financing gap for women entrepreneurs, who face significant barriers to accessing capital.
Sub-Saharan Africa is unique in its high rate of female entrepreneurship, yet women face a $42bn financing gap. Chidzero's approach is to support women-led businesses and ensure their inclusion in financial markets. By investing in enterprises that empower women, FSDAi is fostering economic growth and societal transformation.
"Our high appetite for risk, and strong financial acumen, sets us apart," Chidzero emphasises, reflecting on FSDAi's unique role in the market.
Looking ahead, Chidzero envisions a financial landscape where sustainable growth is the norm, driven by innovative, inclusive financial solutions. Her leadership continues to inspire, paving the way for future generations of women in private equity and development finance.
Chidzero's career is a testament to the transformative power of strategic, impact-driven investments. Through her leadership at FSDAi, she has championed innovative financial solutions, supported the green economic transition, and empowered women entrepreneurs. As she continues to break new ground in private equity, Chidzero's legacy will undoubtedly influence the future of finance in Africa and beyond.
In a field often dominated by traditional approaches, Chidzero’s innovative strategies and unwavering commitment to impact serve as a welcome sign of progress and inspiration for many women in private equity. Her work not only highlights the critical role of development finance in Africa, but also underscores the importance of inclusive, sustainable growth for the continent's future.