AfDB Invests in Fund Targeting SME Development in North Africa

The African Development Bank is investing €20 million ($28.38 million) in the Maghreb Private Equity Fund III, which finances activities to promote the development of small and medium-sized enterprises in Algeria, Tunisia, Libya, Morocco and Egypt.

MPEF III is a 10-year fund that aims to raise up to €130 million. It targets family-owned SMEs across different fields, with a focus on companies that manufacture products for export and those planning to expand at a regional level.

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About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.