The European Bank for Reconstruction and Development (EBRD) supports medium-sized companies in Egypt, Morocco and Tunisia with a core commitment of up to US$80 million for the North Africa Fund III (NAF III), the first fund raised by RMBV as an independent fund manager.
NAF III will seek long-term capital gains from equity and equity-linked investments in medium-sized companies in the three countries.
Following the first closing, NAF III will seek to invest up to US$300 million in companies in North Africa to help them achieve their full operational potential and generate financial returns for investors. While the fund will not be sectoral, RMBV will primarily target companies operating in four core sectors where the team has a track record of successfully deploying capital, namely healthcare, education, financial services and consumer staples. Within these sectors, the RMBV team will lean towards investing in companies that provide goods and/or services that will benefit from the promising consumer dynamics in North Africa.
In addition to financial support, RMBV will receive a technical cooperation package to help create and implement a gender equality action plan.
“We are proud to continue supporting the RMBV team in raising its first fund as an independent player in the North African private equity market,” said Anne Fussimali, Director of Private Equity Funds at the EBRD. “By anchoring NAF III, the bank underscores its commitment to not only supporting teams quality but also to support private equity as a source of financing in the North African economies where it operates. As the first investor, the EBRD’s support for NAF III will have a catalytic effect on mobilizing public and private capital to invest in the region and lead the Fund. Towards the first closure.
Ahmed Badr El Din, Managing Partner at RMBV, said: “We are honored to have the continued trust and support of the EBRD as we embark on this exciting chapter for RMBV with the third North Africa Fund. This partnership reflects our shared vision to promote sustainable economic growth across the region.” By enabling medium-sized companies to realize their full potential and contributing to their transformation into regional leaders through alignment with the EBRD’s core values – building competitive, inclusive, resilient and well-governed companies – we aim to achieve. Superior returns for our investors while helping build tomorrow’s economy and driving meaningful impact in the region.”
As part of its investment approach, RMBV seeks to invest in companies that demonstrate potential for sustainable growth, consolidation and/or expansion, are managed by commercially minded founders and/or managed by professional teams, and have demonstrated their resistance to periods of economic uncertainty.
About RMBV
RMBV is an independent investment firm dedicated to transforming small and medium-sized enterprises into industry leaders across North Africa.
With a focus on the consumer, education, healthcare and financial services sectors, RMBV collaborates closely with founders and management teams to unleash growth potential. Over the past decade, RMBV has returned more than $1.2 billion to its investors.
Through a commitment to shared values and partnership, RMBV uses a practical approach to build sustainable businesses and create lasting value while expanding access to high-quality goods and services for North African consumers, promoting inclusive growth and improving market environments.
