IFC boosts growth of mid-market companies in sub-Saharan Africa
Investors - JULY 24, 2023

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IFC boosts growth of mid-market companies in sub-Saharan Africa

by Kali Persall

IFC has announced a $25 million equity investment in Metier Capital Growth Fund III (MCGF III), a vehicle managed by Metier Private Equity International, to boost the growth of mid-market companies in sub-Saharan Africa. The capital injection also includes a co-investment envelope of $15 million, which will be invested alongside the fund in select companies.

MCGF III will invest in eight to 12 mid-market companies, located primarily in Southern Africa and East Africa. The fund will invest in sectors such as telecommunications, fast-moving consumer goods, healthcare, nonbanking financial services, manufacturing, and infrastructure and energy. MCGF III will invest at least 40 percent of the fund outside of South Africa.

IFC, a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets, said the investment will help MCGF III reach its first close and enable the fund to attract more follow-on equity for i

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