The African Development Bank Group (AfDB) has approved a US$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.

The Fund will invest in countries in the North Africa region in mid-market growth companies in sectors such as consumer goods and services, healthcare, education, and financial services. Beyond capital, the Fund will also provide managerial expertise to the targeted companies across these high-impact sectors. The investment was jointly considered with Cassa Depositi e Prestiti (CDP), Italy's development finance institution, which has approved a US$20 million equity investment in the RMBV North Africa Fund III through the Growth and Resilience Platform for Africa (GRAf). Promoted by Italy and the Bank Group, GRAf is a co-investment partnership anchored in the Mattei Plan for Africa, under which Italy seeks to deepen economic cooperation and strategic partnerships with African nations and institutions.

The investment underscores the Bank Group’s commitment to strengthening private sector participation, supporting the growth of scalable businesses, and stimulating job creation, while advancing the delivery of essential services across the North Africa region.