The European Investment Bank (EIB) has made a significant announcement regarding its commitment to fostering economic growth in Africa. The EIB has invested €15 million in the newly launched I&P Afrique Entrepreneurs 3 (IPAE 3) fund, which is managed by Investisseurs & Partenaires. This fund is strategically designed to support high-potential local businesses across a variety of sectors, including agriculture, health, energy, water, industry, and services.
By joining forces with the West African Development Bank (BOAD) and Proparco, the EIB becomes one of the initial investors in IPAE 3. This collaboration aims to attract further contributions from both public and private sector entities, thereby enhancing the fund’s overall impact.
EIB Vice-President Ambroise Fayolle highlighted the importance of this investment, particularly in regions like West Africa and Madagascar, where access to financial resources for startups is often limited. He stated, “This initiative aims to provide financing for startups and assist in their growth, fostering responsible entrepreneurship and empowering women entrepreneurs. By doing so, we are contributing to job creation and the development of future business leaders.”
Sébastien Boyé, Co-CEO of Investisseurs & Partenaires, expressed his pride in the longstanding partnership with the EIB, which has lasted nearly two decades;
The EIB’s early commitment to IPAE 3 is instrumental in the success of this fundraising round. It underscores confidence in our approach and expertise. The fund aims to provide financial support to responsible and innovative businesses that tackle Africa’s most pressing challenges while promoting economic inclusion, particularly for women.
With this recent investment, IPAE 3 is positioned to stimulate economic development throughout Africa by financing businesses that promote sustainable growth and generate positive social impact.
