French Development Agency Proparco Invests €10 Million in AfricInvest's Small Cap Fund
The French development agency Proparco has invested €10 million (approximately $10.4 million) in AfricInvest's latest small and medium-sized enterprise (SME) fund, a major player in impact investing in Africa. The AfricInvest Small Cap fund aims to strengthen SMEs, which are essential for job creation and economic growth on the continent, with a particular focus on gender and climate impacts, while promoting responsible and inclusive practices.
The fund will support SMEs in several African countries, primarily in North, East, and West Africa, operating in key sectors such as education, healthcare, and agro-industry. Brahim El Jai, senior partner at AfricInvest, highlighted that this fund is part of the company's ongoing commitment to supporting high-growth and high-impact African SMEs, while promoting sustainable transformation.
Jérémie Ceyrac, investment director at Proparco, specified that this investment is part of the Choose Africa initiative, which aims to support African SMEs and startups. He recalled that the partnership with AfricInvest has lasted for over 25 years and expressed pride in contributing to the sustainable development of the continent's economic fabric.
