EBRD Backs North Africa Fund III In Supporting Mid-Cap Growth

2024-12-02 08:09:16

(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 2. The European Bank for Reconstruction and Development (EBRD) has committed up to $80 million to North Africa Fund III (NAF III), a fund launched by RMBV, marking its first independent fundraising effort, Trend reports.

NAF III will invest in mid-cap companies in Egypt, Morocco, and Tunisia, aiming to drive long-term capital growth through equity and equity-related investments.

The fund plans to raise up to $300 million to support businesses in North Africa, particularly in healthcare, education, financial services, and consumer staples, where RMBV has a proven track record. The investments will target companies that align with the region's growing consumer dynamics.

Alongside financial support, RMBV will receive technical assistance to develop and implement a gender action plan.

Anne Fossemalle, EBRD Director for Private Equity Funds, emphasized the bank's commitment to supporting private equity in North Africa, stating that EBRD's investment would catalyze further capital inflows into the region.

Ahmed Badreldin, Managing Partner of RMBV, expressed gratitude for EBRD's trust and highlighted the partnership's shared goal of driving sustainable growth and supporting mid-cap companies in the region.

RMBV will focus on companies with potential for growth and resilience, managed by capable teams, with a strategy to deliver strong returns and foster regional leadership.

MENAFN02122024000187011040ID1108946306

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.