AfDB, CDP back RMBV's North Africa fund with $35M
What's the deal? The African Development Bank GroupDealroom has a profile for this one. Try Dealroom → has approved a $15 million equity investment in RMBV North Africa Fund IIIDealroom has a profile for this one. Try Dealroom →, managed by RMBVDealroom has a profile for this one. Try Dealroom →. Italy's development finance institution, Cassa Depositi e Prestiti (CDP)Dealroom has a profile for this one. Try Dealroom →, added $20 million, bringing the joint commitment to $35 million.
Where's the money going? The fund will invest in mid-market companies across North Africa in sectors including consumer goods and services, healthcare, education and financial services. Beyond capital, it will provide managerial expertise to the companies it backs.
Why now? CDP's stake runs through the Growth and Resilience Platform for Africa (GRAf)Dealroom has a profile for this one. Try Dealroom →, a co-investment partnership anchored in Italy's Mattei Plan for AfricaDealroom has a profile for this one. Try Dealroom →.
The signal: The deal reflects a push to channel development finance into private-sector growth in North Africa, with the AfDB citing job creation and wider access to essential services as core aims.
Read more: AllAfrica
Image credit: neiljs
