AfricInvest raises Sh48 billion for investments in Africa

AfricInvest raises Sh48 billion for investments in Africa

Private equity firm AfricInvest has raised Sh47.9 billion in a new fund for investments in mid-sized companies in African countries including Kenya.

Investors who took part in the funding include BII UK (formerly CDC UK), German investment fund DEG, the European Investment Bank (EIB), Dutch development bank FMO, IFC, and French development institution Proparco.

The fund, dubbed AfricInvest IV, is the largest the firm has raised, eclipsing the Sh35 billion it raised from the previous flagship fund, AfricInvest III, which closed in 2016.

It ordinarily caps investment per region in Africa at 35% of a fund, meaning East African investments could access up to Sh16.8 billion from the new fund.

Since its inception in 1994, AfricInvest has raised more than $2 billion in funds, which it has deployed into over 190 companies in more than 35 African countries.

In Kenya, its investee firms have included UAP Insurance Group, Family Bank Kenya, I&M Bank Rwanda, Prime Bank, Britam Holdings Group, Silafrica Plastics & Packaging International, Abacus Pharmaceuticals and Brookhouse Schools. (

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