The African Development Bank Group has approved a $15 million equity investment in the RMBV North Africa Fund III, joining Italy’s Cassa Depositi e Prestiti in a combined $35 million commitment to support mid-market growth companies across the region.
CDP will provide $20 million through the Growth and Resilience Platform for Africa (GRAf), a co-investment partnership promoted by Italy and the African Development Bank under the Mattei Plan for Africa. The platform is designed to deepen economic cooperation and strategic partnerships between Italy and African nations and institutions.
The RMBV North Africa Fund III is a private equity vehicle managed by RMBV that targets mid-market growth companies primarily in Egypt, Morocco, Tunisia and Algeria. The fund includes major commitments from the European Bank for Reconstruction and Development (EBRD) ($80 million anchor commitment), ans European Investment Bank (EIB)($80 million).
The fund will target mid-market companies in North African markets, with a particular emphasis on consumer growth sectors as well as healthcare, education and financial services. Beyond providing capital, it aims to deliver managerial expertise to help these businesses scale, expand access to quality goods and services, and create jobs.
The joint investment underscores the African Development Bank’s focus on strengthening private-sector participation, supporting the growth of scalable enterprises and stimulating employment while improving the delivery of essential services across North Africa.
Posts
0 Comments