EBRD Considers Investment in SPE Capital’s New North Africa Fund

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The European Bank for Reconstruction and Development (EBRD) is contemplating an equity investment of USD 40 million in a new North Africa-focused fund established by SPE Capital. The fund, known as SPE PEF III, is designed to target midcap companies in Egypt, Morocco, and Tunisia. This potential investment builds upon a history of successful collaborations between the EBRD and SPE Capital, reflecting a shared commitment to fostering economic development in the region. Additionally, Banque Misr stands to benefit from EBRD funding, with allocations designated for on-lending to micro, small, and medium-sized enterprises (MSMEs) and support for women-led small businesses.

Key Points:

  1. EBRD’s Potential Investment:
    • The EBRD is considering a USD 40 million equity investment in SPE Capital’s new fund focused on North Africa.
    • The fund, SPE PEF III, will concentrate on midcap companies operating in Egypt, Morocco, and Tunisia.
  2. Established Partnership between EBRD and SPE Capital:
    • The EBRD and SPE Capital have a history of successful collaborations, including the acquisition of a majority stake in Egyptian non-banking financial services firm GlobalCorp in partnership with Amethis.
    • SPE Capital also holds a stake in Future Pharma, further solidifying the partnership’s investment portfolio.
  3. Funding for Banque Misr:
    • Banque Misr is in line to receive up to USD 50 million in funding from the EBRD.
    • Of this, USD 40 million is allocated for on-lending to micro, small, and medium-sized enterprises (MSMEs), while USD 10 million is earmarked to support women-led small businesses.

Conclusion: The EBRD’s potential investment in SPE Capital’s North Africa-focused fund signifies a continued commitment to fostering economic growth and development in the region. This investment, combined with the ongoing partnership between the EBRD and SPE Capital, underscores their shared mission to support businesses and initiatives that contribute to sustainable economic progress. Additionally, the funding earmarked for Banque Misr reflects a broader effort to empower local enterprises, particularly those led by women, and further strengthen the economic landscape of the region.


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