The African Development Bank Group (AfDB) has approved a $15 million equity investment in RMBV North Africa Fund III to support mid-market growth companies and expand access to jobs and essential goods and services across the region.
The fund will invest in growth companies in sectors including consumer goods and services, healthcare, education and financial services, the bank said in a statement.
In addition to providing capital, the fund will offer managerial expertise to portfolio companies, with a focus on businesses operating in high-impact sectors.
The investment was jointly considered with Italy’s development finance institution Cassa Depositi e Prestiti (CDP), which approved a $20 million equity investment in the fund through the Growth and Resilience Platform for Africa (GRAf).
GRAf is a co-investment partnership promoted by Italy and the African Development Bank and anchored in Italy’s Mattei Plan for Africa, which aims to strengthen economic cooperation and strategic partnerships with African countries and institutions.
The AfDB said the investment would support greater private sector participation, the expansion of scalable businesses and job creation, while helping improve access to essential services across North Africa.
