EIB Invests $15.7M in IPAE Fund to Boost African SMEs
TLDR
- The European Investment Bank (EIB) has invested $15.7 million in the IPAE 3 fund managed by Investisseurs & Partenaires (I&P)
- The fund supports high-growth African businesses in key sectors, including agriculture, health, energy, water, and industry
- The EIB, along with the West African Development Bank (BOAD) and Proparco, is among the fund’s first investors
The European Investment Bank (EIB) has invested $15.7 million in the IPAE 3 fund managed by Investisseurs & Partenaires (I&P). The fund supports high-growth African businesses in key sectors, including agriculture, health, energy, water, and industry.
IPAE 3 aims to create over 4,000 direct jobs, with at least 40% reserved for women. The fund aligns with the 2X Challenge, which promotes women entrepreneurs. The EIB, along with the West African Development Bank (BOAD) and Proparco, is among the fund’s first investors and aims to attract further public and private investment.
I&P operates in Ivory Coast, Ghana, Senegal, and Madagascar, also covering Benin and Togo. The EIB expects its investment to generate 4.5 times additional capital for SME financing in West Africa and Madagascar.
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Key Takeaways
The EIB’s investment highlights the growing role of development finance in strengthening Africa’s private sector. SMEs in West Africa and Madagascar face challenges in accessing capital, limiting growth and job creation. IPAE 3 offers structured financing to responsible and innovative businesses addressing key regional challenges. This investment also emphasizes the importance of gender inclusion in economic growth. With 40% of jobs created allocated to women, IPAE 3 aligns with broader initiatives supporting female entrepreneurship. The EIB’s involvement signals confidence in I&P’s investment strategy. By mobilizing additional capital, the fund aims to enhance financial inclusion and build sustainable businesses.
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