Fund Awards 2023

<p>African Lions Fund invests in profitable, listed companies in sub-Saharan Africa, outside South Africa, typically number 1 or number 2 in their sector or industry, with strongly entrenched franchises, generating at least 15% unlevered returns on invested capital, run by honest and competent management teams which treat minority shareholders well. Our process has delivered 46% returns in USD after all fees and expenses, over 3 years, since inception Oct 1, 2020.</p>