The Board of Directors of the African Development Bank Group approved on Friday, July 20, 2018, a € 20 million equity investment in the Maghreb Investment Fund Private Equity Fund IV (MPEF IV), AfricInvest.
This equity investment will help accelerate the development of mid-cap companies in North Africa with strong growth potential in the region and in sub-Saharan Africa.
The objective of the MPEF IV Fund is to achieve a capitalization of 200 million euros and finance the growth of about fifteen companies with strong local presence. Investments will range between 8 and 25 million euros and are expected to generate around 2,700 jobs, of which 30% for women.
« This project will strengthen the investment capabilities of midsize companies, which will be able to expand into new high value-added markets in sub-Saharan Africa, » said Mohamed El Azizi, Executive Director of the African Bank. development plan for the North Africa region.
« With this new operation, we aim to bring out African companies that are champions in their fields and strengthen their integration into African and global value chains, » said Abdu Mukhtar, director of the department of industry and industry development. trade at the Bank.
Although it accounts for less than 4% of all trade on the continent, trade within North Africa shows a potential for development that can further strengthen the dynamics of regional integration (Algeria, Egypt, Morocco and Tunisia).
In line with the Bank’s Ten-Year Strategy and Private Sector Development Policy, this equity investment echoes two of its top five priorities, High 5: Industrializing Africa and Integrating Africa.
About the Africinvest Fund
Born in 1994, AfricInvest is a pan-African private equity group with nine offices, including seven in Africa, which invests in small and medium-sized enterprises that can grow on the African continent.