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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Africa»EBRD invests $40 million to empower mid-cap companies in North Africa
    Investment

    EBRD invests $40 million to empower mid-cap companies in North Africa

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    By Tapiwa Matthew Mutisi on July 1, 2024 Africa, Business, Funding, Investments, News, SMEs

    The European Bank for Reconstruction and Development (EBRD) is set to channel up to $40 million into the newly established SPE PEF III fund, managed by SPE Capital. The capital infusion is targeted at reinforcing mid-sized enterprises within the economies of Egypt, Morocco, and Tunisia.

    SPE PEF III is designed to drive long-term capital appreciation by making equity and quasi-equity investments in the targeted North African countries, with the potential to extend its investment activities into selected countries in sub-Saharan Africa.

    This move marks the continuation of a fruitful relationship between EBRD and SPE Capital, which began with EBRD’s investment in SPE AIF I during 2019-2020, the forerunner to the current SPE PEF III fund. The predecessor fund, AIF I, has been instrumental in advancing the growth of nine companies spanning diverse industries, including healthcare, education, consumer goods, and food processing.

    Anne Fossemalle, the EBRD’s Director for Private Equity Funds Investment, conveyed her excitement about furthering their alliance with SPE Capital, a pivotal ally in the southern and eastern Mediterranean region. She praised SPE Capital’s strategic regional footprint, with offices in Tunis, Casablanca, Cairo, and Abidjan, which positions them to effectively support African enterprises in enhancing their operational efficacy, delivering robust investor returns, and contributing to the continent’s prosperity.

    Nabil Triki, Managing Partner and CEO of SPE Capital, expressed gratitude for the EBRD’s steadfast backing, which has been vital to the success of their private equity endeavors and broader growth. He underscored the significance of this support in achieving not just substantial financial returns but also in creating enduring positive social and economic impacts within their markets.

    Triki depicted the partnership as a catalyst for sustainable progress and prosperity, enriching both local communities and the broader economy. In conclusion, Triki affirmed that this collaborative effort solidifies their mutual commitment to fostering robust, high-growth enterprises throughout North Africa and potentially in other African regions.

    Swvl Secures $10m Investment From The European Bank of Reconstruction and Development

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    Africa Business EBRD Egypt European Bank for Reconstruction and Development Funding Investments Morocco North Africa SMEs SPE Capital SPE PEF III fund Startups Technology Tunisia
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    Tapiwa Matthew Mutisi
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    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 6,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

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