SIFEM has committed USD 15M to the SPE Private Equity Fund (SPE PEF III), which has successfully achieved its first close at USD 140M signifying a major step forward in SIFEM’s mission to drive impactful investments across North Africa.
SIFEM has committed USD 15M to the SPE Private Equity Fund (SPE PEF III), which has successfully achieved its first close at USD 140M signifying a major step forward in SIFEM’s mission to drive impactful investments across North Africa.
We are delighted to announce that SIFEM contributed to the successful first close of SPE PEF III, with commitments totaling USD 140 million. This marks a major step forward in our mission to drive impactful investments across North Africa.
According to the African Development Bank Group, Africa faces significant challenges with youth unemployment, with an estimated one-third of young people aged 15-35 unemployed or discouraged, and another third vulnerably employed. With millions of young people entering the labor market, the need for decent jobs is growing. The fund supports creating better jobs and management positions for young employees, particularly in North Africa. The fund manager is expected to help mobilize additional financing for growth companies through its hands-on approach.
By providing long-term capital to SMEs, the fund helps fill a severe financing gap in North Africa, aiming to create quality jobs in a region where over one-third of the younger population is unemployed. The fund manager, SPE Capital Partners Ltd., has a proven track record of delivering on these goals. With this commitment, SIFEM supports a long-term partner with an excellent track record alongside other Development Finance Institutions (DFIs).
The details of the fund are now available in SIFEM’s portfolio explorer: https://sifem.ch/portfolio/#spe-pef-iii
In 2023, SIFEM continued to make significant strides toward its mission of fostering sustainable development in emerging markets, with a focus on creating quality jobs, promoting gender equality, advancing climate action, and supporting inclusive economic growth.
In 2023, SIFEM continued to make significant strides toward its mission of fostering sustainable development in emerging markets, with a focus on creating quality jobs, promoting gender equality, advancing climate action, and supporting inclusive economic growth.
