The private equity fund will invest in fast-growing SMEs, mainly in North Africa. The Tunis-based fund manager launched the fund as a successor to the Africa Industrialization Fund (AIF), which attracted investment from some of the same institutions, and closed in 2020 having raised $260m. Key sectorsThe new fund is a generalist private equity fund that will invest in fast-growing SMEs, mainly in North Africa, targeting sectors such as healthcare, education, manufacturing and processing, and business services. The fund will make majority or significant minority investments, aiming to take a hands-on, value-added approach to investee firms. Ralph Keitel, head of fund of funds investments at responsAbility, said his firm intended to scale up its efforts to drive economic development, create quality jobs, and promote sustainable growth in North Africa, with SIFEM’s support.

Source: The North Africa Journal June 27, 2024 14:56 UTC