Proparco, a prominent French development finance institution, has announced a significant investment of €10 million in AfricInvest’s latest fund, aimed at bolstering small and medium-sized enterprises (SMEs) across the African continent. This initiative is particularly focused on supporting SMEs in North, East, and West Africa, with an emphasis on key sectors such as education, health, and agribusiness.
This investment is part of Proparco’s broader Choose Africa initiative, which is dedicated to enhancing the growth and sustainability of African SMEs and start-ups. The initiative aims to provide financial resources and support to entrepreneurs, fostering economic development and job creation across the region.
Jérémie Ceyrac, Proparco’s Investment Director, emphasized the alignment of this investment with the goals of the Choose Africa initiative;
This investment is fully in line with the Choose Africa initiative, which Proparco has launched to support SMEs and start-ups in Africa. This fund reflects our ambition to strengthen the capacities of African entrepreneurs and to respond to economic, social, and environmental challenges in a sustainable manner. Our partnership with AfricInvest goes back more than 25 years, and we are proud to once again play a joint role in supporting the continent’s economic fabric.
AfricInvest, recognized as a leading Pan-African investment platform, views this fund as a continuation of its mission to empower high-growth, high-impact African businesses. The organization is committed to fostering innovation and sustainable development within the continent’s entrepreneurial landscape.
Brahim El Jai, Senior Partner at AfricInvest, commented on the significance of the fund, stating;
This fund is part of our ongoing commitment to support small and medium-sized African businesses with high growth and impact potential in their ambition to become drivers of sustainable transformation. By combining financial support with our local and multi-regional expertise, we are supporting innovation, job creation, and the adoption of climate strategies in line with the Paris Agreements. Our aim is to help these companies generate measurable economic, social, and environmental value while consolidating their position in strategic markets.
This collaboration highlights the enduring partnership between Proparco and AfricInvest, which has flourished over the past two decades. Together, they are committed to fostering a vibrant ecosystem for SMEs in Africa, ensuring that these enterprises can thrive and contribute to the continent’s economic growth and resilience. Through this investment, both organizations are taking significant steps toward addressing the challenges faced by African entrepreneurs and supporting the sustainable development of the region.
