Proparco invests US$20mn in SPE AIF I fund to support SMEs in North Africa

30 Apr 2020

Through a US$20mn equity investment in the SPE AIF I investment fund, Proparco supports SMEs undergoing periods of strong growth or transition, in the industrial, health and education sectors in Egypt, Morocco and Tunisia.

SPE AIF I is a private equity fund managed by Proparco's longstanding partner SPE Capital, which focuses on North Africa, particularly Egypt, Morocco and Tunisia. As some companies, particularly family-owned businesses, are faced with problems of transmission or transformation and don’t find financial partners to rely on, this fund supports SMEs in strong growth or transition.

Alongside other investors and development banks, Proparco has subscribed to the second closing of the SPE AIF I fund, in the amount of US$20mn, in order to support companies meeting the needs of the middle classes in North Africa.

This project is expected to have positive impacts on decent work and the economic growth of countries, meeting Sustainable Development Goal 8. It will support around ten companies through equity investments giving control or strong influence, in the industrial, health and education sectors, and should help to support more than 3,000 indirect jobs including 700 women's jobs. It will also contribute to capacity building, through the training of a total of 600 employees as a result of training expenditure by the investee companies. Proparco will also play an advisory role on environmental and social aspects.

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