The Board of Directors of the African Development Bank Group has approved a $15 million equity investment in the SPE PEF III private equity fund to help growth-stage businesses expand across Africa. The decision was made in Abidjan on 25 March 2026, reflecting the Bank’s continued commitment to supporting enterprise development and private sector growth on the continent.
The SPE PEF III fund will focus mainly on North Africa, while also targeting selected high-growth markets in sub-Saharan Africa. Its investment strategy is built around three key areas: manufacturing and processing, business and industrial services, and human capital. These sectors include industries such as consumer goods, packaging, food processing, logistics, business process outsourcing, financial technology, pharmaceuticals, healthcare, and education, all of which are seen as resilient and high-potential drivers of regional economic growth.
The African Development Bank Group stated that the investment is closely aligned with its broader development vision and strategic priorities. Through this funding, the Bank aims to strengthen medium-sized enterprises by improving their access to capital, supporting their business expansion into new markets, and encouraging job creation across Africa. The initiative also fits within the Bank’s Four Cardinal Points strategic framework, which emphasizes sustainable economic development through private sector support.
SPE Capital, the manager of the fund, is an investment management firm operating across Africa, Europe, and the Middle East. The company 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, positioning it strongly to manage regional investments and support business growth in multiple African markets.
