Launch of an investment fund dedicated to French and African SMEs
The fund will have a capital of €100 million.A new investment fund will support French and African small and medium-sized enterprises (SMEs).
Set up by French business financing organisation Bpifrance and Tunisian private equity firm AfricInvest, it will have a capital of €100 million.
It will "help French companies invest in Africa and African companies invest in France. We will put €40 million from our own funds and we are raising €60 million from investors," said Nicolas Dufourcq, CEO of Bpifrance, quoted by L'Usine Nouvelle.
"Some SMEs missed the opportunities offered by growth in China or Brazil, we say: do not miss out on Africa," he added.
AfricInvest is a pan-African private equity fund manager that supports the development of SMEs in the implementation of their development projects to create regional or even continental "champions".
Supported by private and institutional investors as well as development agencies, AfricInvest manages a $1billion dollar asset portfolio spread over 23 countries in Africa.