The close of an AfricInvest fund in late 2018 will provide up to EUR 194 million in funding for smalThe close of an AfricInvest fund in late 2018 will provide up to EUR 194 million in funding for small and medium-sized enterprises across Algeria, Egypt, Morocco and Tunisia. Africa-focused private equity investor AfricInvest has closed a EUR 194 million fund aimed at investing in small and medium-sized enterprises (SMEs) in North Africa. Featuring contributions worth EUR 20 million from the African Development Bank (AfDB), the Maghreb Private Equity IV has already been backed by a wide range of development finance institutions and banks. AfricInvest recently invested USD 51 million in outsourcing and customer service company iSON Xperiences, which operates in five countries in sub-Saharan Africa, as well as India. It also put EUR 12.2 million into Ivorian transportation and supply chain company Les Centaures Routiers (LCR).

Source: The North Africa Journal January 07, 2019 15:22 UTC