The African Development Bank Group has approved a series of equity investments totaling over $37m to support high-growth and early-stage enterprises across Africa.

The approvals include a $15m investment in the Alterra Africa Accelerator Fund L.P., a $15m investment in the SPE PEF III private equity fund, and a €7.5m investment in the Breega Africa Seed I Fund.

The Alterra Africa Accelerator Fund is a multi-sector private equity fund focused on scaling mid-sized, high-growth enterprises across Africa. The Bank’s participation is expected to mobilize additional institutional capital and strengthen the Fund’s capacity to provide long-term growth financing to companies with strong expansion potential, particularly those driving innovation, regional expansion, and job creation. The Fund has also adopted gender and social inclusion commitments, including initiatives to improve representation in leadership roles and expand procurement from women-led enterprises.

The SPE PEF III fund focuses on growth-stage businesses, primarily in North Africa, with selective exposure to high-growth markets in sub-Saharan Africa. It is structured around three strategic pillars: manufacturing and processing, including fast-moving consumer goods, packaging, and food processing; business and industry services, including third-party logistics, business process outsourcing, and niche financial technologies; and human capital, covering pharmaceuticals, health services, and education. The Bank’s investment aims to accelerate enterprise development, broaden access to capital, facilitate expansion into new markets, and stimulate job creation across these resilient sectors.

The Breega Africa Seed I Fund will support early-stage technology start-ups across Africa. The Bank will invest €5m in equity capital and €2.5 million in a junior tranche on behalf of the European Commission as part of the Boost Africa Initiative. The Fund will target fintech, insurtech, agritech, healthtech, logistics, diversity and inclusion, edtech, and climate tech, with a focus on five key markets: Nigeria, South Africa, Kenya, Egypt, and Francophone Africa. The investment aims to expand access to essential services, create jobs for women and youth, and promote climate-resilient infrastructure and sustainable value chains.

These investments align with the African Development Bank Group’s Four Cardinal Points strategic framework, supporting enhanced access to capital, Africa’s demographic transformation, climate resilience, and value addition across key economic sectors. Through these initiatives, the Bank aims to strengthen Africa’s entrepreneurial ecosystem and foster inclusive and sustainable economic growth.