Through a $30 million investment in the first close of AfricInvest’s new multisector private equity fund, French development finance institution Proparco will support the development of strong local and regional consumer-driven businesses across Africa.

AfricInvest is one of the pioneers of private equity in Africa, successfully investing on the continent through its North African and sub-Saharan Africa funds for over 25 years. As a longstanding partner of the group, Proparco has...