AfDB and CDP back mid-market growth firms in North Africa with $35 million equity investment

The African Development Bank (AfDB) has approved a $15 million equity investment in the RMBV North Africa Fund III to support growth companies, with a special focus on consumer growth sectors and expanding access to jobs and quality goods and services, according to a press release issued on 14 August 2026. The investment was jointly considered with Cassa Depositi e Prestiti (CDP), Italy’s development finance institution, which has approved a $20 million equity investment in the same fund. Together, the two institutions are channeling $35 million to strengthen mid-market growth companies across the North Africa region.

CDP’s contribution is delivered through the Growth and Resilience Platform for Africa (GRAf), a co-investment partnership promoted by Italy and the Bank Group. GRAf is anchored in the Mattei Plan for Africa, under which Italy seeks to deepen economic cooperation and strategic partnerships with African nations and institutions. The platform represents a joint effort to mobilize capital for private sector expansion on the continent.

The RMBV North Africa Fund III will invest in countries in the North Africa region, targeting mid-market growth companies operating in consumer goods and services, healthcare, education, and financial services. These are considered high-impact sectors with direct links to expanding access to jobs and essential services. The fund’s scope is designed to bring scale and reach to businesses positioned for regional expansion.

Beyond providing capital, the fund will also offer managerial expertise to the companies it backs across these sectors. This dual approach combines financial resources with operational support, aiming to strengthen governance and scalability. According to the press release, the strategy is meant to help portfolio companies grow while delivering broader economic benefits in their markets.

The African Development Bank Group emphasized that the investment underscores its commitment to strengthening private sector participation, supporting the growth of scalable business, and stimulating job creation. It also advances the delivery of essential services across the North Africa region. Together, AfDB and CDP position the RMBV North Africa Fund III as a vehicle for both economic and social returns in the region.