CDC, DEG, Finnfund, FMO, PROPARCO, SIFEM and Swedfund have together committed EUR 97 mln to AfricInvest Fund III. AfricInvest Fund III is a sub-Saharan Africa-focused private equity fund, with a target size of EUR 200 mln The Fund will invest in well-established SMEs that demonstrate the potential to scale-up their activities on a regional level. In addition to generating risk-adjusted returns for its investors, the Fund will create sustainable employment opportunities for thousands of people in Africa, contribute to regional economic integration and increase tax revenues for local governments.
The Fund will focus on Western and Eastern African countries and invest in a broad range of businesses, with a strong focus on manufacturing for export and companies aiming to expand at the regional or continental level. In addition, the Fund will work towards promoting environmental, social and governance best practices in its portfolio companies. Targeted sectors will include IT and telecoms, services, health, education, transport and agribusiness.
The Fund is managed by the AfricInvest Group, which was founded in 1994 and currently manages 13 private equity funds across North and Sub-Sahara Africa.
For more information, please visit SIFEM's website and CDC's website