AfDB and Italy’s CDP commit $35 million to RMBV North Africa Fund III – Innovation Village

In a significant move to accelerate economic development across North Africa, the African Development Bank (AfDB) and Italy’s primary development finance institution, Cassa Depositi e Prestiti (CDP), have announced a combined $35 million capital commitment to the RMBV North Africa Fund III. This joint financial injection aims to catalyze private sector expansion and bolster key industries across the region.

Breakdown of Capital Commitments

The funding structure is a collaborative financial effort distributed between the two major institutions:

• African Development Bank (AfDB): The institution has formally approved a $15 million equity investment, reinforcing its ongoing mandate to support scalable African enterprises.
• Cassa Depositi e Prestiti (CDP): The Italian institution is committing a larger $20 million tranche. This specific investment is being channeled through the Growth and Resilience Platform for Africa (GRAf), a specialized financial vehicle designed to facilitate targeted capital deployment.

Investment Mandate and Target Sectors

The RMBV North Africa Fund III is strategically designed to provide vital growth capital to mid-market enterprises operating within North Africa. By targeting middle-market companies, the fund aims to bridge the financing gap for businesses that have moved beyond the startup phase and are primed for significant regional scaling.

The fund will direct its resources toward high-impact, high-growth sectors that serve the region’s rapidly expanding demographic needs, specifically prioritizing:

• Consumer Goods and Services: Supporting businesses that cater to the evolving demands of the local population.
• Healthcare: Investing in medical infrastructure and services to improve regional health outcomes.
• Education: Funding institutions and…