BLACK ARECA

view of dar es salaam, tanzania, showing a vibrant cityscape with tall buildings

WHO WE ARE ?

Black Areca is a consulting and services firm that supports companies and investors in their development across Sub-Saharan Africa.

Black Areca aims to address the still significant knowledge gap among many economic players from the Global North.
Paradoxically, Sub-Saharan Africa is now widely perceived as a powerful growth engine in a relatively subdued global economic environment.
With a population exceeding one billion people, the continent offers substantial assets that will continue to underpin strong growth rates.

SUB-SAHARAN AFRICA, AN EXCEPTIONAL POTENTIAL

  • A unique demographic dynamic: by 2050, Sub-Saharan Africa is expected to reach nearly 2.1 billion inhabitants, accounting for more than half of global population growth.
  • The youngest population in the world: today, nearly 60% of the population is under the age of 25, compared with around 30% in Europe and 40% in Asia. This represents an unparalleled reservoir of labor, consumers, and innovators.
  • Rapid and transformative urbanization: the urbanization rate increased from approximately 31% in 2000 to over 45% in 2025, with more than 100 million new urban residents added every five years.
  • Fast-growing megacities: by 2035, more than 40 African cities will exceed 5 million inhabitants, including Lagos, Kinshasa, Abidjan, Nairobi, and Dar es Salaam—cities that already concentrate the bulk of economic growth.
  • Ongoing economic diversification: in 2026, extractive industries account for only around 10% of Sub-Saharan GDP. Growth is now driven by services, construction, agro-industry, telecommunications, and the urban economy.
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  • Rising role of the private sector: since the early 2000s, the share of the private sector in key infrastructure (ports, energy, telecommunications) has increased from less than 20% to over 60%, supporting massive investment flows.
  • Strong growth in investment flows: foreign direct investment has risen from less than USD 10 billion per year around 2000 to nearly USD 60 billion in 2025, with a peak of USD 97 billion in 2024.
  • A rapidly expanding domestic market: in 2026, household consumption in Sub-Saharan Africa exceeds USD 1.4 trillion, driven by urbanization, the emergence of a middle class, and the gradual formalization of economies.
  • Accelerated technological leap: mobile penetration increased from less than 5% in 2000 to over 80% in 2025, while digital financial services now reach more than 400 million users.
  • Massive structural investment needs: by 2040, Sub-Saharan Africa will need to invest between USD 130 and 170 billion annually in infrastructure, housing, energy, water, and transport.

Black Areca’s strength lies in the deep expertise of its teams, composed of experienced and recognized financiers and consultants.
Its experts have a thorough understanding of local values and cultures and maintain privileged relationships with numerous private and institutional stakeholders.
This network and experience enable Black Areca to effectively support investment operations and projects throughout the region.

THE FOUNDERS

MOHAMED BENNANI

With over 40 years of banking experience in Europe, the Middle East, and Sub-Saharan Africa. He notably served as Chief Executive Officer of BANK OF AFRICA Group (present in 15 African countries), Managing Director of BMCE Bank, Chief Executive Officer of the Banque de Développement du Mali, which he successfully restructured, and Managing Director of BMCE International, which he founded in Madrid.
He has been awarded the Ouissam Achchoughl Addahabi by the Kingdom of Morocco and is a Knight of the National Order of the Republic of Mali and the Order of Merit of the Republic of Congo.

SAAD BENNANI

He comes from the world of strategy and organizational consulting. For more than 10 years, he supported leading Moroccan groups in major transformation and development projects, including the creation of a new bank, the merger of two credit institutions, the strategic repositioning of a reinsurance company, and the implementation of mandatory health insurance.
His entrepreneurial mindset and passion for Africa have also led him to successfully support several companies expanding into Sub-Saharan markets, as advisor or partner, across various sectors including healthcare, agri-food, renewable energy, and construction.

WHY BLACK ARECA ?

The business opportunities offered by the African continent to exporters and investors—industrial and financial alike (banks, insurance companies, finance firms, investment funds)—are immense, with margins and internal rates of return rarely matched elsewhere in the world.
However, success requires a deep understanding of the specificities of each African market.

  • Africa, like any other continent, is not homogeneous and encompasses as many distinct markets as there are countries—or sometimes regions within a single country.
  • Financing and risk coverage are two critical success factors that are even more decisive in Africa than elsewhere.
  • Finally, the ability to implement projects locally, regardless of sector or size, is a key determinant of success.

At Black Areca, we fully understand these challenges and possess the experience, knowledge, and skills to address them in the best interests of our clients.

Drawing on our international—and particularly African—experience in the financial, banking, industrial, and commercial sectors, we deliver end-to-end services aligned with the standards of leading investment banks and top consulting firms: strategy, partnerships, financing, risk management, and execution.

Our flexible, human-scale structure also enables us to be highly responsive and competitive.

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OUR SERVICES

Black Areca provides advisory, support, and financial structuring services to industrial and/or financial investors seeking to develop their commercial activities and/or projects in Sub-Saharan Africa, with appropriate risk coverage and financing under optimal market conditions.

COMMERCIAL DEVELOPMENT

  • Identification of export and import commercial partnerships
  • Support in risk coverage
  • Structuring of trade-finance operations
  • Assistance with participation in international tenders, including issuance of guarantees and financing structuring
  • Representation of industrial and commercial companies

Investments

Acquisitions

  • Identification of potential targets
  • Support in negotiations with sellers and potential partners
  • Coordination of due diligence and target valuation
  • Preparation of acquisition offers
  • Advisory on transaction financing structuring

Greenfield projects

  • Market studies
  • Investment file preparation
  • Assistance in obtaining local authorizations
  • Advisory on appropriate financing structures

Contact

Contact@blackareca.com