The tide is shifting in African development finance. Yesterday, Senegalese fintech unicorn Wave closed a $137.2 million debt round — a figure that might seem commonplace in global venture capital circles but remains rare in Francophone Africa. Rarer still is the roster of institutions behind the deal. A syndicate of development finance institutions (DFIs) — once known more for conservative, infrastructure-heavy bets — are now stepping into African tech with a fresh playbook. Leading the charge is the UK’s British International Investment (BII), which just made a strategic move that could reshape the region’s investment landscape.

Last week, BII, the UK government’s DFI and impact investor, announced the appointment of Sylvia Monthe as Coverage Director for Francophone West and Central Africa. It is a role that goes beyond title. With Monthe at the helm, BII is signaling more than just geographical expansion — it’s staking a claim in a region long underserved by international DFIs, despite its economic potential and swelling base of tech-savvy entrepreneurs.

Monthe, a seasoned executive fluent in both French and English, arrives with deep regional experience and cross-sectoral fluency. She most recently led the financial institutions portfolio for Central Africa at Proparco, the French DFI, where she shaped its strategy and capital allocation across the region’s banking ecosystem. Her earlier career spans investment banking stints in France — including with Société Générale, Crédit Agricole, and AXA Investment Managers — and entrepreneurial work in Cameroon, where she built a consultancy to support SMEs in raising capital and scaling operations. Her public-sector chops include a pivotal role at Agence Française de Développement (AFD), where she facilitated private-sector access to sustainable energy finance.

With BII, she joins at a moment of strategic reorientation. The institution has in recent quarters upped its exposure to African tech and clean infrastructure. Recent deals include a $15M investment in Nigerian solar firm Arnergy, a $5M ticket in Kenyan electric mobility startup ARC Ride, and participation in a yet-undisclosed round in South Africa’s TooMuchWifi. All this builds on BII’s growing presence in frontier tech, sustainable energy, and digital infrastructure.

But Francophone West and Central Africa remain relatively new terrain for most international DFIs — and particularly for BII, whose historical strongholds have been Anglophone powerhouses like Nigeria, Kenya, and South Africa. Monthe’s appointment is designed to correct that imbalance.

“We are delighted to welcome Sylvia to our team,” said Benson Adenuga, BII’s Nigeria Head of Office and Coverage Director. “Her vast experience and proven track record in the financial sector will be invaluable as we continue to expand our presence in Francophone West and Central Africa. Her expertise in building strong relationships with local businesses and stakeholders will be crucial in driving our mission forward.”

For her part, Monthe expressed enthusiasm for what lies ahead:

“I am excited to join BII and contribute to its impactful work across the continent. I look forward to collaborating with the talented teams in London and across Africa to drive sustainable development and inclusive economic growth in the region.”

The timing could not be more strategic. The $137.2M Wave round she inherits as a backdrop — anchored by RMB, with BII, Norfund, and Finnfund in tow — reflects a broader shift in DFI posture. No longer content with conservative participation or post-hoc grants, DFIs are increasingly taking anchor positions in high-growth, tech-enabled sectors. These deals are not just about returns. They are about solving persistent challenges: digital access, financial inclusion, energy poverty.

Take Finnfund, for example. The Finnish DFI just doubled down on its investment in Fibertime, a South African fibre broadband company building last-mile connectivity in underserved townships. Or Partech’s $29.8M Series A round in Beacon Power Services, which drew co-investment from DFIs including Proparco, Gaia Impact Fund, and Seedstars Africa Ventures — a move aimed at transforming Africa’s brittle grid infrastructure through data analytics and smart energy management.

Even on the retail and more direct participation in startups, DFIs are testing new waters. OmniRetail, a Lagos-based B2B e-commerce platform, recently raised $20M in Series A funding co-led by Norfund and local firm Timon Capital. The Series A round marked Norfund’s first-ever direct equity investment in an African startup, highlighting the hybrid capital stacks now defining the African growth story — where DFIs sit alongside local VCs and strategic corporates.

What makes Monthe’s arrival especially compelling is not just her CV — it’s the larger shift her role represents. In a region where international capital still flows unevenly, and where many DFIs have struggled with linguistic and cultural nuance, her appointment could be the bridge between global capital and local execution.

For decades, Francophone Africa’s development narrative has unfolded on a different axis from its Anglophone counterparts — slower-moving, less digitized, and often more state-dependent. At the same time, funding for high-growth tech ventures in Africa has, until now, been almost exclusively the domain of venture capital firms. That’s beginning to change.

With new capital structures, a maturing entrepreneurial ecosystem, and a generation of leaders like Monthe entering the fold, the region is poised for a different kind of future. And if BII’s new direction is any indication, the future of DFIs in Africa will be neither passive nor peripheral — it will be intentional, regionally grounded, and deeply tied to the continent’s digital and financial transformation.