An Exceptional History

Since 2005 MFC has been at the forefront of international investment banking and private equity across the Middle East, Africa and Asia, with successfully completed transactions in excess of USD30 billion in telecommunications, oil and gas, natural resources, real estate, financial institutions and infrastructure.

2005

Keba Keinde and his partners (the Management) establish Millennium Financial Advisory (MFA) with Dubai Islamic Bank (DIB) as an anchor investor. The Management holds 35% and control through AFA while DIB holds 65%.

World: Youtube is launched.

World: Hurricane Katrina hits the US causing more than $200 billion in damage.

World: Angela Merkel becomes the first female Chancellor of Germany.

2006

MFA is authorised by the DFSA to provide financial services under a Category 4 license.

The name of MFA is changed to Millennium Finance Corporation and it starts its operations from its new offices in the DIFC, the Gate Building.

World: Twitter launched.

World: Ben Bernanke succeeds Alan Greenspan as Chairman of the Federal Reserve.

2007
MFC completes more than $20 billion worth of transaction. MFC becomes one of the leading investment banks in Dubai and a credible alternative to international investment banks.

MFC is lead manager and book runner to the largest IPO ever in the middle East of DP World valued $5 billion.

MFC advises on Arcelor Mittal’s $2.2 billion integrated mining project in Senegal.

MFC advises RAK Petroleum on its $400 million acquisition of Indago Petroleum.

KIPCO acquires through its subsidiary UGB 32.5% of MFC’s shares from DIB.

2008

MFC establishes Millennium Private Equity (MPE) as a fully owned subsidiary with a Category 3 license from the DFSA. AFA becomes MFC’s largest shareholder MFC with 35% of MFC. DIB and KIPCO each own 32.5% of MFC.

MFC successfully raises $500 million through 3 funds for MPE; the Energy Fund, Telecom Fund and India Fund.

MPE’s Limited Partners include leading institutions from the GCC such as DIB ,KIPCO , Kuwait Finance House (KFH) , Islamic Development Bank (IDB) and The sovereign fund of Dubai (ICD).

MFC continues to consolidate its leadership in investment banking with milestone transactions such as Iran’s $5 billion sale of its third mobile license.

MPE deploys $166 million in highly successful international investments.

MPE Originates a $1.2 billion transaction and invests $100 million in Bharti Infratel (the leading telecom infrastructure company in India) alongside Temasek, Goldman Sachs and KKR.



MPE invests $25 million in Kuwait Energy Company (the leading private E&P company in Kuwait).

World: Oil prices hit a record high of $147 a barrel.

World: Worst financial crisis since the great depression begins.

2009

Some MPE’s LPs don't’ meet their commitments on an investment undertaken by MPE following unanimous approval by MPE’s investment committee. A dispute erupts between MPE / MFC and some of its shareholders and LPs.

Following a lengthy process, AFA, DIB and UGB agree to spin-off MPE from MFC. DIB and UGB acquire MPE. AFA becomes 100% shareholder of MFC.

Some disgruntled employees spread false allegations against MFC, DIB and KIPCO on Wikileaks and flee the country.

World: Barack Obama is sworn in as 44th President of the USA.

Burj Kalifa, the tallest man made structure in the world is completed near the MFC offices.

2010

MFC re-launches its investment banking operations with a focus on Africa that is showing strong resilience to the financial crisis.

MFC advises Islamic Development Bank on a $200 million port financing in Gabon.

MFC advises South Sudan on a $1.5 billion pre-export facility, and a financial sponsor on a LBO of one of the leading E&P companies in Africa, as well as several international investors on natural resources transactions.

2011

World: Apple founder Steve Jobs dies.

Keba Keinde, the founder and Chairman & CEO of MFC took a sabbatical to run for president in Senegal.

2012

After a successful pre campaign his candidacy was declared ineligible 3 weeks before the elections.

While he was rumoured to join the new government, Keba Keinde becomes the victim of a vicious smear campaign trying to associate him to an alleged corruption scandal related to the sale of the third mobile license in Senegal to Sudatel.

2014

Keba Keinde fights vigorously this smear campaign and is fully cleared by Senegal’s supreme court of any wrongdoings or involvement in the alleged corruption scandal.

World: Oil price and Russian Ruble crashes.

2015

World: China devalues the Renminbi sending shock waves in the global financial markets.

Keba Keinde re-launches MFC.




2016

MFC is executing leverage buyout of an ICT company in KSA.

MFC is recapitalising the company and launching a $1 billion investment company dedicated to Africa.



MFC is doing a private placement for a digital technology company anchored by one of the largest sovereign funds on the GCC.

MFC is the lead advisor of a multi-billion dollars telecom operator.

MFC is the lead advisor on a $1.5 billion real estate transaction.

MFC is the lead advisor on a private placement for an oil and gas downstream company in Africa.

World: Brexit - Britain votes to leave the EU.