AFRICA. Frenchman Proparco is investing $ 30 million (€ 26.7 million) in the first closing of the Pan-African private equity fund AfricInvest IV dedicated to African SMEs and endowed with FCfa 290 billion (€ 500 million). According to a press release from the subsidiary of the French Development Agency (AFD), published Thursday June 25, 2020, “the AfricInvest IV fund aims to provide growth capital to medium and large capitalization companies in Africa, with emphasis on consumer-oriented sectors, including financial services, manufacturing, retail and consumer goods, agri-food, health care, education, telecommunications, logistics and distribution ” .
The Development Finance Corporation has also announced a contribution of the same amount.
The Pan-African fund intends to develop local businesses that are well positioned to make them regional champions. It is the first of its kind for the Africinvest group, born in Tunisia under the name of Tuninvest, and which has offered funds from North Africa and sub-Saharan Africa for twenty-five years.
Proparco has already invested in fifteen of the nineteen AfricInvest funds since 1997.
Africinvest (80 employees in 9 offices in Abidjan, Algiers, Casablanca, Lagos, Cairo, Nairobi, Paris, Port-Louis and Tunis) has nearly € 1.5 billion in assets under management with 160 investments in twenty-five countries in Africa, but also in France.
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/files/import/2020-06/bild747074_1000x562.jpg "Pirates of the Caribbean: Margot Robbie should become a pirate!")
