Cassa Depositi e Prestiti and African Development Bank Partner to Boost African Private Sector
Cassa Depositi e Prestiti (CDP), Italy’s national promotion institution, and the African Development Bank Group have announced a new partnership to invest up to €400 million over five years to accelerate the growth of the African private sector. This collaboration will focus on supporting strategic projects and promoting investment opportunities through the newly established Growth and Resilience in Africa platform.
Key aspects of the partnership:
Joint investment: CDP and the African Development Bank Group will each contribute €200 million to be injected into the African economy through private equity and venture capital funds.
Focus areas: Investments will be directed towards food security, local SME growth, and sustainable infrastructure.
Additional funding: The platform will mobilize an additional €350 million from other sources, bringing the total investment to €750 million.
Knowledge sharing: The partnership aims to enhance investor knowledge of the African private sector and facilitate the sharing of investment opportunities.
* Job creation and development: The initiative is expected to contribute to job creation and improve access to essential products and services across Africa.
This partnership aligns with the Mattei Plan for Africa, an Italian strategic initiative to foster a new era of partnership and sustainable development in Africa. The plan focuses on energy cooperation, security and stability, and cultural and scientific exchanges.
The African Development Bank Group has a vast portfolio of private equity and venture capital funds, with over US$1.36 billion committed to 74 funds.