NORTH AFRICA – CDC Group plc, the UK’s development finance institution and impact investor, has announced a €25 million (about 27.59 million) commitment to Mediterrania Capital Partners III (MCP III), a generalist fund primarily targeting investments in North Africa.
“Our investment in MCP III will support well-established local firms that demonstrate strong potential for growth to become regional leaders, providing the capital and expertise for them to expand.
North Africa is home to a new generation of entrepreneurs, some of whom have longstanding roots in the region, and others who are taking advantage of new opportunities offered by burgeoning regional growth.
However, lack of finance is a persistent barrier for business owners seeking to grow their companies both regionally and internationally.
Thanks to CDC and the other investors’ contributions we will be able to continue helping local entrepreneurs to build businesses with strong foundations and help them reach their next level of growth,” noted Albert Alsina, Founder and CEO, Mediterrania Capital Partners.
In turn this will help create new direct and indirect jobs, particularly for semi-skilled and unskilled workers in a region where youth unemployment is high.
Mediterrania Capital Partners seeks to create value through sustainable and socially responsible investments that improve economies and the life of local communities in Africa.
Some of the companies that have benefited from MC funds include Cairo Scan, a radiology and lab services provider in Egypt, and COFINA, a provider of financial services predominantly active in Cote d’Ivoire.