The African Development Bank Group’s Board of Directors has approved a $15 million equity investment in the SPE PEF III private equity fund to support growth-stage businesses across Africa. The decision, taken in Abidjan on 25 March 2026, reflects the Bank’s continued commitment to expanding access to capital for businesses with strong growth potential on the continent.
SPE PEF III will focus mainly on North Africa, while also making selective investments in high-growth markets in sub-Saharan Africa. The fund is designed to target sectors considered both resilient and high potential, with the aim of supporting businesses that can drive economic expansion and create long-term development impact.
The fund is structured around three strategic pillars. The first is manufacturing and processing, which includes industries such as fast-moving consumer goods, packaging, and food processing. The second is business and industry services, covering areas like third-party logistics, business process outsourcing, and niche financial technologies. The third is human capital, with investments planned in pharmaceuticals, health services, and education. Together, these sectors are seen as important engines of growth in the regional economy.
The African Development Bank Group said the investment is closely aligned with its broader development vision and strategic priorities. In line with the Bank’s Four Cardinal Points framework, the funding is intended to help medium-sized enterprises accelerate their growth, improve access to finance, expand into new markets, and generate employment opportunities across Africa.
SPE Capital is an investment fund management company operating across Africa, Europe, and the Middle East. The firm has deployed more than $600 million, mainly in development capital, across sectors such as healthcare, education, business services, and manufacturing. It maintains offices in Abidjan, Cairo, Casablanca, and Tunis.
