RMBV North Africa Fund III secures $35m
The fund will focus on sectors including consumer goods, healthcare, education and financial services.
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The African Development Bank (AfDB) and Italy’s development finance institution, Cassa Depositi e Prestiti (CDP), are investing a total of $35 million in the RMBV North Africa Fund III.
AfDB has approved a $15 million equity investment, while CDP is investing $20 million through the Growth and Resilience Platform for Africa (GRAf).
RMBV North Africa Fund III will invest in mid-market growth companies in North Africa. Its focus sectors include consumer goods and services, healthcare, education and financial services.
Promoted by Italy and the AfDB, GRAf is a co-investment partnership anchored in the Mattei Plan for Africa, under which Italy seeks to deepen economic cooperation and strategic partnerships with African nations and institutions.
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