North Africa is set to receive a significant boost to its private sector after the African Development Bank Group approved a $15 million equity investment in the RMBV North Africa Fund III, targeting mid-market companies with strong growth potential across the region.
The fund will invest in businesses operating in consumer goods and services, healthcare, education and financial services, providing not only capital but also managerial expertise to help companies expand their operations and strengthen their competitiveness.
The investment forms part of a combined $35 million commitment with Italy’s Cassa Depositi e Prestiti, which has approved a further $20 million equity investment in the fund through the Growth and Resilience Platform for Africa.
The partnership places North African businesses at the center of a broader effort to strengthen private-sector participation, stimulate employment and expand access to quality goods and essential services.
For the African Development Bank, the investment reflects its strategy of supporting scalable businesses capable of generating sustainable economic opportunities across the region. By directing capital toward established mid-market companies, the initiative seeks to help businesses move beyond growth constraints while strengthening their contribution to local economies.
The involvement of Cassa Depositi e Prestiti also reinforces Italy’s expanding economic engagement with Africa through the Growth and Resilience Platform for Africa, a co-investment partnership promoted by Italy and the African Development Bank Group and anchored in the Mattei Plan for Africa.
For North Africa, the financing could provide additional momentum to companies operating in sectors closely linked to everyday economic development. Healthcare and education businesses can expand services, financial institutions can broaden access to financial products, while consumer-focused companies can respond to growing demand for goods and services.
The investment also places job creation among the key expected benefits, as expanding mid-market companies can generate new employment opportunities while strengthening supply chains and supporting wider economic activity.
With $35 million committed to the RMBV North Africa Fund III, the partnership signals continued confidence in North Africa’s private sector and its potential to drive economic growth, improve services and create new opportunities for businesses and communities across the region.