ANAF II: A fund to support businesses in North Africa

Multi-Country Mediterranean and the middle East | Kenya | Morocco
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ANAF II, un fonds pour soutenir les entreprises en Afrique du Nord
ANAF II is a generalist fund managed by the Abraaj Group. It is dedicated to companies located in North Africa. It contributes to the development of the local economic bases in a region where equity is still hard to come by.
Client presentation
Abraaj North Africa Fund II (ANAF II) will be the second fund managed by Abraaj Group in North Africa (Morocco, Algeria, Tunisia, Egypt), after the Kantara (ANAF I) fund which Proparco subscribed to in 2008. Abraaj Group is a leader in venture capital in emerging markets, with USD 9bn of assets under management.
Project description
Proparco has made an equity investment in the generalist investment fund ANAF II, which is dedicated to financing companies in Morocco, Algeria, Tunisia, Egypt, operating in a wide range of sectors: consumer goods, health services, education, pharmaceutical sector, industry, financial services. The unit investment amounts will range between USD 10m and USD 30m.
Project impact
This operation will contribute to the development of the local economic base, in a region where equity remains a scarce resource. The fund is targeting about a dozen companies and could contribute to creating or maintaining some 200 jobs. The fund’s generalist strategy will also allow it to support key economic sectors for development in North Africa. Finally, the operation will allow the fund to improve the E&S risk management of its investment projects.
31/07/2014
Date of signature of the project
Sectors
Multi-Country Mediterranean and the middle East | Kenya | Morocco
Location
Financing tool
14 676 744 Euros
Amount of funding
Equity investment of USD 20m
Financing details
Abraaj North Africa Fund II
Client
CES