The European Investment Bank has invested €15 million in the I&P Africa Entrepreneurs Fund 3 to enhance support for SMEs in Africa and create over 4,000 jobs, particularly for women.
Target Information
The European Investment Bank (EIB) has committed to a €15 million investment in the newly established I&P Africa Entrepreneurs Fund 3 (IPAE 3) to enhance support for small and medium-sized enterprises (SMEs) in Africa. This innovative and impactful fund is expected to create over 4,000 direct jobs, with a particular focus on ensuring that at least 40% of these positions are allocated to women.
Funded through the ACP Trust Fund, this initiative aligns with the EU's Global Gateway strategy, aiming to foster sustainable and inclusive growth in Africa. The partnership was officially announced during the 'EIB Group Day,' with the signing ceremony attended by EIB Vice-President Ambroise Fayolle and I&P Co-CEOs Jérémy Hajdenberg and Sébastien Boyé.
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Industry Overview in Africa
The SME sector in Africa plays a crucial role in driving economic growth and job creation, accounting for a significant percentage of employment across the continent. However, many SMEs face barriers
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Disclosed details
Transaction Size: $15M