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European Investment Bank Invests in Africa Industrialization Fund to Support Growth Capital investments

The fund seeks to contribute to the development of the private sector in North Africa by increasing access to capital for local small and medium-sized enterprises (SMEs) and mid-market companies
LUXEMBOURG CITY, Luxembourg, April 2, 2019/ — The European Investment Bank (EIB) has signed a commitment of USD 15 million with the SPE Africa Industrialization I Fund (AIF I), a generalist private equity fund targeting primarily growth capital investments in SMEs and mid-market companies mainly in North Africa, with a focus on Egypt, Morocco and Tunisia. The fund’s first closing reached USD 80 million.

epa02773679 An exterior view of the European Investment Bank (EIB) Headquarters in Luxembourg, where Tajikistan’s President Emomali Rahmon and Philippe Maystadt, the President of the European Investment Bank, withe their delegations met for talks, on 10 June 2011. EPA/NICOLAS BOUVY

The fund manager, SPE Capital Partners, will adopt a hands-on value-adding investment strategy and will seek to acquire equity stakes in enterprises with robust growth potential in important sectors such as education, healthcare, manufacturing and services to meet their investment needs.

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The fund seeks to contribute to the development of the private sector in North Africa by increasing access to capital for local SMEs and mid-market companies. Additionally, the fund’s portfolio companies are anticipated to grow regionally and contribute to strengthening trade between northern and sub-Saharan African countries, while creating over 1,000 direct new jobs.

The EIB commitment was signed under the Southern Neighbourhood Private Equity Risk Capital Facility, a EUR 71.3 million facility which aims to support private equity fund investments in the Southern Neighbourhood countries. The facility blends the EIB’s own resources with European Commission resources under the Neighbourhood Investment Facility.

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