The decision, taken in Abidjan on March 25, will see the Bank take a stake in SPE PEF III, a fund managed by SPE Capital, with a mandate to deploy capital into mid-sized companies operating across high-growth sectors. SPE PEF III will focus primarily on North Africa, while retaining flexibility to invest in select high-growth markets in sub-Saharan Africa. By anchoring SPE PEF III, AFDB is positioning itself as a catalytic investor, aiming to crowd in additional private capital while de-risking expansion for African businesses. SPE Capital brings an established track record to the partnership. The $15m commitment may appear modest in global private equity terms, but its significance lies in its catalytic potential.

Source: The North Africa Journal March 31, 2026 09:19 UTC