The European Bank for Reconstruction and Development (EBRD) will invest USD 60 million in RMBV’s third North African fund, according to the bank’s website. On November 29, the EBRD will approve the investment.
The USD 300 million fund would invest in mid-cap companies primarily in Egypt, Morocco, and Tunisia in order to achieve long-term capital growth. The fund is said to have been in the works since June 2020.
According to its website, RMBV has a strong concentration on Egypt, with investments in Cleopatra Hospitals Group, MaxAB, and Taaleem. It has left enterprises such as IDH, CIRA Education, and Spinneys Egypt. Ahmed Badreldin, the former Middle East Director, leads the firm.