Damien Braud, Head of Africa and the Mediterranean PE team at Proparco, said: “Through discussions with its French and European stakeholders, a new idea came up: why not try and enable a new private equity offering in Africa by leveraging on the French and European investment ecosystems?
“Why not try to bridge the gap between African and European private equity fund managers? French and European fund managers networks are dense, eminently skilled, and they have substantial access to funding.”
Bruno Le Maire, Minister of the Economy and Finance for France, said: “We have decided to make private equity investment one of the pillars of our range of financing in Africa. Proparco’s commitment could get more private investors to take the plunge and meet the financing needs of African SMEs.”
By investing an amount to catalyze the raising of this new fund and by attracting new private investors, Proparco is reiterating its commitment to its African partners, as it is already actively supporting funds that already operate in Africa.
This initiative is led by AFD Group and mobilizes all AFD and Proparco’s tools in order to provide unparalleled assistance to African companies.
“Proparco has a wide range of technical assistance tools that aim at enhancing the social and environment impact of companies in which Proparco invests in. They range from energy efficiency buildings to accessibility of beneficiaries to clinics and universities.