Promoting job creation in North Africa by supporting SMEs

SPE has positioned itself as a key player in Private Equity in North Africa. Most of the senior team has been working together for 10+ years back then, under the umbrella of Swicorp. SPE AIF I marked the completion of the spin off, pursuing a strategy which aims at capitalizing on the successful transactions of the INTAJ I and II funds, with a narrowed North African focus (Tunisia, Morocco, Egypt) on controlling operations and selective investments in Sub Saharan Africa

Proparco is investing $15 million in SPE PEF III, which is the second vintage under the SPE brand, with a $350 million target fund size. SPE PEF III intends to replicate the investment strategy of SPE AIF I with more funds under management in order to make slightly larger investment transactions

The expected impacts of this financing are:

• Support for close to 8,000 jobs within the companies invested in by the fund over the next 5 years. SPE PEF III, by investing in companies (mainly of them being SMEs) across Africa, will maintain and create jobs in Proparco priority countries.
• Contribution to gender equality through a commitment to finance companies qualifying under the 2X Challenge (at least 30% of the Fund's portfolio at the time of investment and 50% at the time of exit). SPE PEF III is 2X aligned, and meets criteria 2 (leadership), 3 (employment) and 6 (portfolio).  

In addition, the investment activities of SPE PEF III will be consistent with a pathway towards low greenhouse gas emissions and climate resilient development and will ensure that over time its portfolio aligns with the goals of the Paris Agreement.

The project will contribute to the achievement of SDG 5 (Gender equality) and SDG 8 (Decent work and economic growth).