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IFC to invest Sh2bn in new SMEs fund
The fund will prioritise investments in countries where AfricInvest has physical presence including Algeria, Egypt, Kenya, Ivory Coast, Morocco, Mauritius, Nigeria and Tunisia.
The International Finance Corporation (IFC) is set to invest €15 million (Sh2 billion) in a fund of private equity firm AfricInvest, taking an undisclosed stake in the venture.
IFC, via its SME Ventures Programme, will join a group of investors from whom AfricInvest Small Cap Management LLC will be raising a total of €180 million (Sh24 billion) for investments in several African nations.
