The Board of Directors of the African Development Bank Group has approved a $15 million equity investment in the SPE PEF III private equity fund to support growth-stage businesses across Africa. The decision was taken in Abidjan on 25 March 2026.
The fund will invest primarily in North Africa, with selective exposure to high-growth markets in sub-Saharan Africa. SPE PEF III 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). Together, these sectors represent high-growth and resilient segments of the regional economy.
This investment is fully aligned with the vision and strategic objectives of the African Development Bank Group. Consistent with the Bank's Four Cardinal Points strategic framework, it aims to support medium-sized enterprises across the continent by accelerating their development, broadening their access to capital, facilitating their expansion into new markets, and stimulating job creation.
About the SPE Capital fund
SPE Capital is an investment fund management company active in Africa, Europe and the Middle East, with more than $600 million deployed, primarily in development capital across healthcare, education, business services and manufacturing. SPE Capital has offices in Abidjan, Cairo, Casablanca and Tunis.
