The International Finance Corporation (IFC) plans to invest up to €15 million ($15.5 million) in the AfricInvest Small Cap Management LLC fund under its SME Ventures initiative. The fund targets SMEs with fewer than 500 employees and annual revenues below €50 million, prioritizing Algeria, Egypt, Kenya, Côte d’Ivoire, Morocco, Mauritius, Nigeria, and Tunisia. Already backed by Proparco (€10M) and DFC ($15M), it aims to raise a total of €180M.
