Proparco Invests $10.5M in AfricInvest Africa SME Fund
TLDR
- Proparco has committed $10.5M to AfricInvest’s latest fund dedicated to supporting SMEs in Africa
- The fund will focus on fostering economic growth, job creation, and sustainable practices
- It will target SMEs in North, East, and West Africa across sectors such as education, health, and agribusiness
Proparco has committed $10.5 million to AfricInvest’s latest fund dedicated to supporting small and medium-sized enterprises (SMEs) in Africa. The fund will focus on fostering economic growth, job creation, and sustainable practices, with an emphasis on gender equality and climate impact.
Targeting SMEs in North, East, and West Africa across sectors such as education, health, and agribusiness, the fund aligns with Proparco’s 2023-2027 strategy of promoting inclusive and sustainable growth. It also qualifies for the 2X Challenge, a global initiative to empower women economically.
“This investment reflects our ambition to strengthen African entrepreneurs and address economic, social, and environmental challenges sustainably,” said Jérémie Ceyrac, Proparco’s Investment Director. AfricInvest Senior Partner Brahim El Jai highlighted the fund’s goal to help SMEs drive sustainable transformation through financial support, innovation, and climate strategies aligned with the Paris Agreements.
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Key Takeaways
Proparco’s investment underscores the critical role of SMEs in Africa’s development. By addressing key sectors and promoting gender-inclusive and climate-conscious practices, the fund aims to generate measurable social, economic, and environmental impact. With AfricInvest’s 25 years of expertise in African markets, the partnership will help SMEs scale operations, adopt sustainable strategies, and contribute to long-term economic transformation. This initiative complements Proparco’s Choose Africa program, reaffirming its commitment to empowering entrepreneurs and fostering sustainable development across the continent.
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