IFC invests $25m in Africa-focused private equity fund to support women entrepreneurs
The IFC made the announcement during its Vice President Sérgio Pimenta's two-day visit to Cairo, which concluded on Tuesday.
The IFC said the equity investment is meant to support the development of medium-sized companies in Africa, with a special focus on firms run or led by women.
The Mediterrania MC IV fund will invest at least 25 percent of its capital in businesses owned or led by women. In both the Middle East and Africa, only six percent of all private equity capital is allocated to women-led businesses.
Founded in 2013, Mediterrania Capital Partners is a private equity firm headquartered in Malta. It focused on growth investments in small and medium-sized enterprises (SMEs) and mid-cap companies in Africa.
The firm invests in consolidated and growing companies with an annual turnover of €20 million to €300 million and expansion strategies into North and Sub-Saharan African markets.
Mediterrania IV will provide essential growth capital to medium-sized enterprises working in healthcare, fast-moving consumer goods, financial services, and manufacturing, all sectors vital to the development of African economies.
“Thanks to the IFC’s trust in our investments, we are helping thousands of people in Africa to have a better life,” said Albert Alsina, founder and CEO of Mediterrania Capital Partners.